For the sake of their companies—and their legacies—departing chief executives should leave things in the best possible shape. Here’s how.
Management literature is rich with analysis of the first 100 days of a chief executive officer’s tenure. Far less attention has been paid to a CEO’s last 100 days. We haven’t conducted systematic research on this topic, but we have seen quite a few CEO transitions over the years. And everything we’ve observed suggests that continuing to act as CEO until the very last day boosts... Read more »
A panel discussion hosted by Mark Lonergan
The panelists were Philip “Flip” Gianos, Charles “Chuck” Robel, and John Shoven Key Insights from the Panelists Board performance must be managed and improved at two levels—that of the individual board director and that of the board as a whole. Now more than ever managing the composition and responsibilities of board directors is critical to success. The effective board chairman... Read more »
A few basic principles go a long way.
A corporate director’s role is one not of management but of oversight. Just as grandparents stay in the background while parents raise children, directors guide top executives from a respectful distance. One of the most direct ways that boards can guide executives is with effective compensation programs. Yet directors themselves often need guidance in how to do it. To keep from losing... Read more »
Boards should view the current crisis as an opportunity to review the way they function. A healthy self-assessment can go a long way toward improving a company’s performance.
During tough times—and they haven’t been this tough for generations—directors are supposed to ask difficult questions about their companies. Yet they rarely ask hard questions about themselves, such as, &ldauo;Are we the right people, asking the right questions, providing the right sort of leadership, challenging management in the most productive ways?” What’s more, except in the banking... Read more »
To meet the challenges of the economic crisis, corporate boards must change the way they work.
This short essay is a Conversation Starter, one in a series of invited opinions on topical issues. Read what the authors have to say, then let us know what you think. As companies grapple with uncertainty of a magnitude that few have experienced before, their boards should begin by questioning fundamental strategic assumptions: Is our view of the market realistic? Does our financing strategy... Read more »