Dust out

German supervisory boards are too large, too unwieldy, too entrenched and too dominated by special interests to be effective. A meeting this week of the government’s corporate governance commission decided to leave things as they are. That means that investors must take things into their own hands. True, there’s nothing they can do about the two worst features of German supervisory boards: their size - 20 people for most industrial blue chip firms - and the requirement for equal representation...