Your world as a director has suddenly changed. You’ve seen members of
other boards take the heat when their companies imploded. The managements of
Lehman Brothers, Bear Stearns, Merrill Lynch, and Washington Mutual clearly
failed, but so did their boards. Now the board of every company beset with
problems is coming under scrutiny.
The pressure is on. Your board must own up to its accountability for
the performance of the corporation. Governance now means leadership.
Boards must change their modus operandi to address the new and complex
issues that are emerging, including ensuring liquidity in the context of the
global financial crisis, setting CEO performance targets in a very uncertain
economy, and assessing strategy and enterprise risk under extreme volatility.
So what should boards do now? What should they be talking about in
their meetings and executive sessions? What decisions must they make? How
assertive must they be regarding company priorities and operating goals?
In Owning Up, business advisor and corporate governance
expert Ram Charan answers these and other burning questions on the minds of
directors and business leaders. He describes best practices that are emerging
in boardrooms he has observed firsthand. He also provides practical
recommendations on a range of issues, from compensation to dealing with
external constituencies. Wisely attuned to the human side, he confronts the
need for some boards to refresh their composition and for others to rebalance
their board dynamics.
Directors, CEOs, general counsels, and operating executives will find
here the guidance they need to meet the new and rising standards for corporate
governance in this demanding business environment.
Download and start listening now!