a variable overview about governance
This paperback is designed to be a reference, focusing on both policy and strategic challenges for senior managers working with Boards and Board members. Some of the chapters are articles; others are transcripts of interviews with key business leaders.Like any edited series, there is a range of quality here.
Some of the pieces are far-out prescriptions from academics that will never see the light of day.
And some of the pieces are practical, thought-provoking ideas written by academics, consultants, and Board members themselves.
For example, Walter Solomon serves on the Board of Neiman Marcus Group, Hannaford Brothers Company, Tufts Health Plan, and Circuit City Stores. He has an excellent article that provides a framework for Board size and composition.
Philip Caldwell is former CEO of Ford Motor Company and former member of the Boards of the following companies: Chase Manhattan, Federated Department, and the Kellogg Company. He notes that the selection of the CEO is one of the most important roles of a Board. It is in the interests of the company that there be viable internal candidates and that the Board have options. It is sometimes in the interests of the incumbent CEO that the CEO be the one to nominate the one and only internal candidate.
For this reason, the Board needs to annually monitor CEO Succession development. The Board also must make sure the program is focused on the competencies of chief executive officers. For example, being a better team player may or may not be a critical issue in the role of CEO. Great team players don't necessarily make great CEOs.
