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Director Data 4th QuarterIssue: 2018 Fourth QuarterCEO TrendsRecord number of CEOs reached retirement age• In 2017, nearly 17% of sitting CEOs reached retirement age (64 or older). That’s the highest rate since we began tracking successions.Outsider CEOs gained steam• Outsiders filled around 44% of vacancies. In both 2015 and 2016, they filled...
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Lead Director = Chief Process LeaderIssue: 2018 Fourth QuarterIn the The CEO’S Boss: Tough Love in the Boardroom published in 2010, Columbia Business School management professor William Klepper, predicted that “lead independent directors will become the chief process leaders of their board.”So what happened?I contacted Klepper recently to get his t...
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The Content of America’s CharacterIssue: 2018 Fourth QuarterAs I have done for the past 25 years, I delivered to my family a “Thanksgiving Day Address,” which this year focused on “The Content of America’s Character.” America’s character animates our moral fiber, core convictions, and enduring values, inspiring us to do the right thing.In m...
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The Business Case for Diversity and InclusionIssue: 2018 Fourth QuarterAt 202 years old, Baltimore Gas and Electric (BGE) is the nation’s first natural gas utility. We have a long history of safely delivering energy to nearly two million customers across central Maryland. It’s a great legacy and one we’re very proud of.But being around for more than two cent...
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Ethnic and Racial Diversity in the Boardroom: Its Time Has Come.Issue: 2018 Fourth QuarterDIRECTORS TO WATCHBoards increasingly have to demonstrate a certain level of sensitivity and enlightenment as it relates to diversity in the boardroom.But the question is, if a truly diverse group should reflect the demographics of the surrounding area and population, how does that break down for co...
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My Board Journey: SUE W. COLE, Director, Martin Marietta Materials, Biscuitville, Diversified TrustIssue: 2018 Fourth QuarterSUE W. COLE, Director, Martin Marietta Materials, Biscuitville, Diversified Trust and the National Association of Corporate Directors. Managing partner and founder of SAGE Leadership & Strategy, LLC, a boutique advisory firm specializing in strategy, leadership development and corporate governan...
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Long-Term RelationshipIssue: 2018 Fourth QuarterFull confidence between corporate boards and CEOs requires trust, candor — and lots of strategic communication.Tony Earley understands the delicate board-CEO introductory dance more than most, and he realizes the pressure to build a good relationship right out of the gate is more important than ev...
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Executive Pay Metrics Moving Beyond Just the NumbersIssue: 2018 Fourth QuarterNon-financial metrics may become a bigger part of the incentive calculation.Retailers like Target are using compensation metrics for senior executives related to redesigned store experiences and channel optimization in response to the evolving retail landscape. Meanwhile, oil and gas companies ...
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Structuring Independent Board LeadershipIssue: 2018 Fourth QuarterWhat to consider before splitting the CEO-chairman role.Companies and investors continue to grapple with what constitutes the optimal board leadership structure, effectively acknowledging that there is no one-size-fits-all solution.Still investors are pushing for changes. Shareholder proposals seeki...
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Managing Conflicts of Interest and DisclosureIssue: 2018 Fourth QuarterTransactions, including mergers and sales, require management-stockholder interest transparency.A decision from the Delaware Supreme Court this summer highlighted the importance that boards set clear guidelines when considering a transaction in which the interests of management might diverge fr...
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CEO Wellbeing is a Board PriorityIssue: 2018 Fourth QuarterTime to tackle work-life and job challenges of the corner office.We are starting to hear more and more from top leaders of organizations on their personal struggles as a result of their role — whether it’s a Fortune 100 CEO reflecting on personal sacrifices and impact on her family, or a high-pr...
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Some Top Dogs Need WatchdogsIssue: 2018 Fourth QuarterBoards increasingly pushed to establish CEO oversight procedures.Even wildly-gifted CEOs need supervision.That appears to be the takeaway from recent regulatory cases where companies have been taken behind the woodshed for not monitoring their star chief executives.The most recent example involved s...
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Assessing the CEO’s PerformanceIssue: 2018 Fourth QuarterQuestions directors should ask before initiating a review.As a board member, one of your most important responsibilities is to evaluate the current performance of the CEO, while simultaneously ensuring that he or she receives the right feedback, incentives and support in order to develop in the role...
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Is the CEO Disruptive Enough?Issue: 2018 Fourth QuarterNokia chairman offers advice on guiding management to stay on top of innovation.When the iPhone was introduced in 2007, Nokia chairman Risto Siilasmaa, admits he didn’t see it as a game changer and trusted management at the telecommunications firm that the device would only be a cult-fan favorite....
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American Water CEO’s ESG MissionIssue: 2018 Fourth QuarterThe head of the largest publicly traded U.S. water utility, and Raymond James’ lead director, is focused on environmental, social and governance issuesSusan Story, the CEO of American Water and a board member for Raymond James and Dominion Energy, doesn’t just give environmental, social and gove...
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My Board Journey: WENDY WEBBWENDY WEBB, co-chair of WomenCorporateDirectors, Los Angeles/Orange County and is a National Association of Corporate Directors Board Leadership Fellow. Director Wynn Resorts and ABM Industries.What attracted you to the boards of Wynn Resorts and ABM Industries?The two companies are quite different,...
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Director Data 3rd Quarter 2018Issue: 2018 Third QuarterFortune 100 Increasing Voluntary Audit-Related DisclosuresEY’s Center for Board Matters recently reported that a U.S. survey of investors indicates high degrees of confidence in the audited financial information disclosed by public companies, with more voluntary reports than ever before.Some...
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TOP OF MIND: What directors are thinkingIssue: 2018 Third QuarterStacey HallermanDirector, MedMenAs the axiom goes, serving as a director is a part-time job with full-time responsibilities. That principle is particularly applicable to directors of newly public companies. And it’s even more relevant for directors of companies in the fast-developing cannabis indu...
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Survival Guide: How Ivy Silver prepares for board meetingsIssue: 2018 Third QuarterIvy Silver - Director: Fulton Bank; CIMG. Advisor, Recovery Record, TechGirlz, DesignPhiladelphiaWhen Ivy Silver approaches board work, she employs “design thinking.”She describes the concept as “about the user experience. It’s very much the idea of how customers actually engage in experienc...
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Three Simple Rules for Stress-Free Board PayIssue: 2018 Third QuarterGetting director compensation right.Board pay has always been an interesting — and sometimes uncomfortable — topic for outside directors. It’s uncommon to set one’s own pay level, and doing so as a steward of a corporation and its shareholders can be uncomfortable. Add to this the Decem...