Have just run across a good article from the Harvard Business Review that I feel is worth re-visiting today. "'Independent Directors Need to Step Up or Step Off" is an excellent title illustrating issues still facing board directors today. The original piece, authored by Lucy Marcus in July 2011, identifies the key principles that NEDs might consider in today's governance environment.
Key issues facing directors include the need for the following conditions:
- Independence in "name and deed" plus remaing engaged and active,
- Transparency and being prepared to answer tough questions by stakeholders, from maverick activists to the community at large,
- Asking the righ question and asking them all,
- Seperation of the Chairman and CEO Roles, and an independent chairman at that,
- Building trust and asking as a true steward of the business.
Find this article at https://hbr.org/2011/07/independent-directors-need-to.
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