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What Makes Great Boards Great. In the wake of the meltdowns of such once great companies as Adelphia, Enron, Tyco, and WorldCom, enormous attention has been focused on the companies’ boards...
- Jeffrey A. Sonnenfeld
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- Jeffrey A. Sonnenfeld
- Strategy: Don’T Just Approve it. Measure It, Check It, Change it.
- CEO Performance: Move on When Things Don’T Work out.
- Board Composition: Address The Elephant in The Room.
- ESG: Be Ready For The ESG Tsunami.
It’s management’s job, of course, to set company strategy. But board oversight is absolutely critical, and to really get it right, many boards could be even more involved. Directors see this, and many told me so in our conversations. Specifically, boards could spend more time analyzing strategic options that were considered and rejected—not just th...
While the board is tasked with oversight over the entire company, the most important piece of that job, by far, is hiring, overseeing—and, sometimes, firing—the CEO. Having the right leader in place really is the most important thing. Even if everything else at the company is perfect—great market positioning, strong technology, good products, vibra...
Large investors and others have been focused on board composition for years, and corporate boards have come a long way in terms of their diversity and their range of skill sets. By and large, boards look different than they did a decade or two ago—but it’s not enough. Boards need to not only diversify and bring in new directors, they also need to h...
ESG dominates boardrooms today. Directors tell us that ESG is the number one topic shareholders want to discuss directly with directors. But my discussions highlighted that boards are just beginning to understand the topic, and oversight varies wildly. Some boards have just begun to incorporate ESG into their strategy and processes. Others have est...
Jul 10, 2024 · A collection of insights for corporate boards, CEOs, and executives to help improve board effectiveness including: board composition and diversity, board processes, board strategy, talent and risk management, sustainability, and purpose.
May 19, 2023 · Board composition is the set of characteristics of board directors, including their age, experiences, skills, and backgrounds. Board structure best practices include revising director tenures, emphasizing cybersecurity, promoting age diversity, and keeping the board size small for optimal governance.
9. Board Composition The board should continuously assess its strategic needs for talent around the table (i.e., values, skills, knowledge, behavioral attributes and perspectives). Boards should seek and weigh stakeholder input, and compare those needs to the current board profile—including projected board turnover—to determine current
Nov 17, 2023 · Board composition: Board effectiveness depends on highly qualified, skilled and diverse directors. Governance will define which industries and expertise should be represented among the directors. Board independence: When directors are independent, they’re less likely to fall victim to conflicts of interest.
Board governance refers to a dedicated governing board’s decision-making process and oversight. Organizations typically hand-select board members to hold the organization accountable for carrying out its mission and ensuring the right strategic direction.
