By Vicki Needham - 05/21/10 08:50 PM EDT
The nearly 40-year-old association of chief executive officers, argued that the bill will reduce the competitiveness of American businesses, specifically the proxy access provision that could impede companies from adding jobs in the United States.
"Far from encouraging long-term growth, proxy access will exacerbate the near-sightedness that has come to be seen as one of the causes of the financial crisis," the release said.
In a recent column in the Huffington Post, Castellani said a good reform bill will fix what went wrong while protecting the ability of American companies to hire more workers and grow the economy. The wrong reform would encourage the pursuit of short-term gains over long-term growth, "the same flawed mindset that led to this crisis in the first place."