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Boards and the irony of diversityIssue: 2007 Fourth QuarterBOARD DIVERSITY Boards and the irony of diversity Diversification of products? Sure. Diversification of assets? Absolutely. Diversification of the board? Not quite. Why not? BY GEORGE MUNOZ M ENTION THE WORD "diversity" and people tend to become un- comfortable. That is ironic. As individuals we are...
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A market on the big growth pathIssue: 2007 Fourth QuarterBOARD DIVERSITY tablished, there will be less resistance to diversity efforts. If the concept of "inclusiveness" rather than "diversity" is emphasized, the anxiety is further lessened. This involves more than just having a mixture of different ethnic groups, racial groups, and genders. What is most ...
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Bespoke boards: Find the nonprofit that fitsIssue: 2007 Fourth QuarterNONPROFIT BOARDS Bespoke boards: Find the nonprofit that fits Joining a nonprofit board that suits your interests is not simply a matter of matching the mission to your passion. It's also about finding the board where you can play a meaningful roky while developing your leadership potential BY ALICE...
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First year wisdom for next year's disclosureIssue: 2007 Fourth QuarterFINANCIAL OVERSIGHT First year v\dsdom for next year's disclosure A checklist to help boards master their 2008 executive compensation disclosures under the new SEC rules. BY DIANE DOUBLEDAY AND AMY KNIERIEIM N ow THAT THE first proxy season under the SEC's new executive compensation disclosure rules...
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How to strengthen director incentivesIssue: 2007 Fourth QuarterDIRECTOR COMPENSATION How to strengthen director incentives Want a board to make decisions that increase shareholder wealth? Then let's increase the directors'wealth leverage. BY STEPHEN F. O'BYRNE G OVERNANCE experts are sharply di- vided about the impact of compen- sation on director decision maki...
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Directors' new attitude toward D&O insuranceIssue: 2007 Fourth QuarterD&O INSURANCE Directors' new attitude toward D&O insurance Are you — and your assets — adequately protected? More directors than ever are interested and engaged in knowing the answer. BY STEPHEN J. WEISS AND SHANNON A. GRAVING A FTER YEARS OF HEADLINES highlight- ing claims against directors...
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What is your board's embarrassment IQ?Issue: 2007 Fourth QuarterINFORMATION FOR THE BOARD What is your board's embarrassment IQ? This quiz will place you on a scale ranging from "/ sleep well at night" to ''I must take immediate action" BY GARY W. PATTERSON J " ACK AND SuzY WELCH Taised a provocative point in their Business Week column, "The Boardroom Bunker," e...
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You're more than the 'hall monitor'Issue: 2007 Fourth QuarterSTRATEGY You re more than the 'hall monitor' How directors contribute to strategy development determines the real value they add to a company. But governing strategy means asking tough questions and putting the proper 'scaffolding' in place. BY MIKE KIPP I T IS HARD TO HAVE a conversatioii about gov...
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The obsolete notion of auditing informationIssue: 2007 Fourth QuarterINFORMATION FOR THE BOARD The obsolete notion of auditing information Boards today are fighting a new kind of war — an information integrity war — with antiquated concepts and tools much the same way the Polish cavalry met the German army in World War II. BY MADHAVAN NAYAR AND ERIC G. FLAMHOLTZ H IS...
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The information explosionIssue: 2007 Fourth QuarterINFORMATION FOR THE BOARD physically observe and manually verify the veracity of the information presented by management. The global economy is currently in the midst of a second Industrial Revolution, which has spawned the Digital Age. It is built on electronic software and hardware, widespread acc...
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The 'boa' we all wrestle withIssue: 2007 Fourth QuarterLEADERSHIP Book it: Best bets for board reading From a roundup oj new books, leadership insights on hiring smartly, succeeding at succession, heading off trouble in the boardroom, dealing with the press ... and being yourself. The 'boa' we all wrestle with From What Really Matters by John Pepper. Co...
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A lesson on hiring from Bo SchembechlerIssue: 2007 Fourth QuarterLEADERSHIP BO'S LASTING LESSONS IHt LEeEHIIIlR* COICH lUCHCE IHl TIHHESS FUNDtMFNTIILS OF lUOiRSHIP A lesson on hiring from Bo Schembechler l-rom Bo's Lasting Lessons by Bo Schemhechler and John U. Bacon. Copyright 2007 by the Estate of Glenn E. Schembechler jr. Published by Business Plus, Hachette ...
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Get your 'governor' going for an interviewIssue: 2007 Fourth QuarterLEADERSHIP BO'S LASTING LESSONS IHt LEeEHIIIlR* COICH lUCHCE IHl TIHHESS FUNDtMFNTIILS OF lUOiRSHIP A lesson on hiring from Bo Schembechler l-rom Bo's Lasting Lessons by Bo Schemhechler and John U. Bacon. Copyright 2007 by the Estate of Glenn E. Schembechler jr. Published by Business Plus, Hachette ...
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A succession plan that went off the railsIssue: 2007 Fourth QuarterLEADERSHIP city, given "lousy city services, late subways." I replied, "As op- posed to wasting time in a car? Or, out in the country, wast- ing time in a pickup truck? When you have to drive 20 miles to buy a gingham dress or a Sears Roebuck suit? This rural America thing, I'm telling you, is a jok...
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Signs of trouble in the boardroom.Issue: 2003 WinterLEADERSHIP city, given "lousy city services, late subways." 1 replied. "As op- posed to wasting time in a car? Or, out in the country, wast- ing time in a pickup truck? When you have to drive 20 mile.s to buy a gingham dress or a Sears Roebuck suit? This rural America thing, I'm telling you, is a jo...
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It's hidden right in front of youIssue: 2007 Fourth QuarterLEADERSHIP ESSENTIALS **' C(.)iporatc Governance Sanfay Aiiond corporation risks dismissing effective directors too early. • A Fractured Board. Often, especially with large boards, di- rectors gravitate to smaller groups. This is desirable when these groups are in the form of functional committees a...
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In crafting pay, beware Ellig's Laws.LEADERSHIP Hillary Clinton's presidential campaign (vvww.microtrending.com). E. Kinney Zalesne has served in leadership positions with two national social-change organizations. In crafting pay, beware EUig's Laws From The Complete Guide to Executive Compensation (Fully Revised and Expanded Edition) ...
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The verdict on SOX: Full adjustment.HEIDRICK & STRUGGLES GOVERNANCE LETTER The verdict on SOX: Full adjustment As the SarbaneS'Oxley era marches on, veteran board counselors Richard Beattie and John Finley render judgment on the law that was thrust on Corporate America five years ago. INTERVIEW BY THEODORE L. DYSART F OR ALMOST fo...
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On power and empowerment.ENDNOTE On power and empowerment Share your power while you have it, because it's going to go away. G ENUINE POWER PLAYERS WOrk for a larger cause than con- solidating their own power They empower others. Sharing your power does not mean diluting it or abdicating your responsi- bilities. When Kraft ...
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What can we learn from private equity?Issue: 2007 Third Quartervvww.directorsandboards.com EDITORIAL ADVISORY BOARD Robert H. Rock President, MLR Holdings Chnirinmi Norman R. Augustine Former Chiiinnan and CEO Lockheed Martin Corp. Robert L. Crandall Former Chairman and CEO AMR Corp. Robert L. DUenschneider Chairman The Dilenschneider Group Inc. Theodore L. Dys...