Corporate Board articles from January 2003

Corporate Board archives from January 2003

Rebuilding faith in corporate governance.
January 1, 2003... The past year has seen the U.S. model of corporate governance decline from a prototype of global success to become a source of scandal. William George, retired chairman and CEO of governance benchmark Medtronic, also sees many corporations...

Is it time for the non-executive chairman?(corporate governance reform; includes Board of Directors survey)
January 1, 2003... Common in Europe but rare in the U.S., a permanent board chair separate from the CEO is drawing renewed attention as we seek to reform corporate governance. Can the concept of a non-executive chairman finally take root in America? If so, how do...

Employee feedback and the board.(effective reporting systems)
January 1, 2003... The new corporate reforms mandate strong, effective reporting systems that allow employees to blow the whistle on audit and legal irregularities. Yet many corporations still have internal feedback system that fail to measure up. Unless your...

Audit: a built-in conflict of interest.(Public Company Accounting Oversight Board, Securities and Exchange Commission, United States)
January 1, 2003... The current crop of accounting reforms miss the target in key areas, says Tom Damman. First, all accounting is less objective (and more subjective) than we like to believe. Second, serious conflicts of interest are built into the accounting and...

The D&O dangers of financial certification.(directors and officers)
January 1, 2003... The Sarbanes-Oxley law requires that CEOs and CFOs formally certify the company's financials, which in itself is a major liability headache. However, there are also hidden dangers for your directors and officers insurance coverage. For example,...

The SEC has unveiled new auditor independence and document retention rules. (Audit).
January 1, 2003... The Securities and Exchange Commission in November published proposed rules that would require auditors to retain specific types of records. A second set of rules would require certain disclosures and reports by auditors and set conditions...

Structural changes will be needed for many boards. (Boardroom Composition).
January 1, 2003... Many companies face structural changes to their boards in light of proposed stock exchange listing rules that set new requirements for director independence and board committees, finds the Investor Responsibility Research Center's (IRRC) latest...

Governance is improving, but words may not match deeds. (Boardroom Composition).
January 1, 2003... Korn/Ferry International's 29th Annual Board of Directors Study shows that directors at Fortune 1000 companies are making long term progress in efforts to implement board practices for stronger corporate governance, but some significant gaps...

Greater use of cash compensation for technology directors is predicted. (Compensation & Recruitment).
January 1, 2003... Clark/Bardes Consulting has released its report on 2002 board of director compensation and corporate governance for the high-tech and life sciences industries. The report examines corporate board compensation strategies at more than 220 leading...

"Related party transactions"--nepotism and insider deals. (Liability & Litigation).(Book Review)
January 1, 2003... The Corporate Library has released "My Son-in-Law's Wife and Other Relations," a report highlighting transactions between companies and their officers and directors. Drawing on information in The Corporate Library's database of "related party"...

Ten years ago in The Corporate Board. (Retrospectives).
January 1, 2003... On the first business day following a corporation's disclosure of adverse information, one judge received four complaints which were "virtually identical (including typographical errors)." Such suits require courts to assess, as one federal...

Five years ago in The Corporate Board. (Retrospectives).
January 1, 2003... It's very important that the leadership of the board, the chairman and CEO, instill understanding in directors that this is a worthwhile, essential job, one that no one should take for granted. Board members need to feel not only wanted, but...

The Politics of Fortune: A New Agenda for Business Leaders. (Books Received).(Book Review)
January 1, 2003... The Politics of Fortune: A New Agenda for Business Leaders. By Jeffrey E. Garten. Harvard Business School Press. $24.95. Yale management school's resident big thinker calls for a new level of civic involvement by world business leaders to...

10 Natural Forces for Business Success. (Books Received).(Book Review)
January 1, 2003... 10 Natural Forces for Business Success. Peter R. Garber. Davies-Black. $26.95. A summary review of coping with the major business trends of our time, including change, growth and diversity.

Articles & Speeches. (Spoken & Written).
January 1, 2003... It's time to face reality: There is no evidence that research--even the research of the Institutional Investor all-stars--adds value. Academic studies only confirm what we all believe: The stock market is highly efficient, and that stock prices...

Recent board elections. (Directors' Register).
January 1, 2003... Albemarle Corporation has elected to its board Lloyd B. Andrew, former chief financial officer and treasurer of Ethyl Corporation. AMCOL International Corporation has elected to its board Daniel P. Casey, former vice chairman and chief...

Arthur Levitt: the man who tried to warn us. (Conversations).(Interview)
January 1, 2003... Being a prophet is not a great route to career enhancement, although serving as an early, effective voice for corporate reform does not seem to have hurt Arthur Levitt. From the time he was named Securities and Exchange Commission chair in 1993...