Published by:
Harvard Business Publishing
Length: 8 pages
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Abstract
The age of the empowered board of directors is here. Major public corporations now acknowledge that they have no choice but to make management more accountable to shareholders and that strengthening the hand of outside directors is the logical means for doing so. But exactly how to proceed remains an open question. More specifically, directors and managers wonder how the relationship between the board and the CEO should be recast. Most directors and managers agree that the board should be a more effective watchdog without undermining management''s ability to run the business. They also say boards need to decide how to distance themselves more from their CEOs without turning a constructive relationship into an adversarial one. Five corporate leaders--John G. Smale, Alan J. Patricof, Sir Denys Henderson, Bernard Marcus, and David W. Johnson--share their views.
About
Abstract
The age of the empowered board of directors is here. Major public corporations now acknowledge that they have no choice but to make management more accountable to shareholders and that strengthening the hand of outside directors is the logical means for doing so. But exactly how to proceed remains an open question. More specifically, directors and managers wonder how the relationship between the board and the CEO should be recast. Most directors and managers agree that the board should be a more effective watchdog without undermining management''s ability to run the business. They also say boards need to decide how to distance themselves more from their CEOs without turning a constructive relationship into an adversarial one. Five corporate leaders--John G. Smale, Alan J. Patricof, Sir Denys Henderson, Bernard Marcus, and David W. Johnson--share their views.