How Economic Upheaval is Changing Company Boards
Most blame for the current crisis has been heaped on CEOs and regulators. But what of boards of directors, who in most companies are charged with an advise-and-consent role overlooking the decisions of top management? The Harvard Business School Corporate Governance Initiative has just published a study involving interviews with 45 prominent directors about what happened in the boardrooms of their companies leading up to and during the crisis, and asking two broad questions: How well did their boards function before the recession? And, what do they believe should be improved as they look to the future? Some questions directors said they are grappling with: Is compliance with laws and regulations something that should be driven by corporate lawyers, or…
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