Corporate Board articles from July 2002

Corporate Board archives from July 2002

The effective lead director.
July 1, 2002... A decade after the role of lead director was pioneered by General Motors, the role remains uncommon in U.S. boardrooms. Governance debacles such as Enron and Global Crossing, tougher regulation, and shareholder pressures, should prompt more...

The case for independent directors.
July 1, 2002... While critics focus on the enforcement role of the board, boardroom pros know that directors, especially independent outsiders, offer the most value as mentors and resources to the CEO. Independent directors offer life-and-death counsel to...

Boards can help CEOs succeed.
July 1, 2002... While most directors realize that selecting a new CEO is one of their key duties, boards too often neglect the follow-through--mentoring the new CEO into an effective leader. Especially if the chief is a first-time CEO, it is the board's role...

A board guide to internal investigations.
July 1, 2002... With corporate wrongdoing in the headlines, boards must know how to effectively, safely investigate such allegations. The first rule to remember: A poorly conducted investigation may end up collecting evidence that is used against the company....

Board monitoring: lessons from the nuclear industry.
July 1, 2002... The past year's governance scandals have shown us the urgent need for an effective, private information "pipeline" between the board and company employees concerned about wrongdoing. The nuclear energy industry faced similar crises years ago,...

The IIA calls for better governance, internal controls. (Audit).(Institute of Internal Auditors)
July 1, 2002... The Institute of Internal Auditors (IIA) has made a public plea for improved corporate governance, risk management, and control processes. Appearing by special invitation before the Special Committee of the Board of Directors of the New York...

New IFAC practice statement will help auditors address e-commerce risks. (Audit).(International Federation of Accountants)
July 1, 2002... Increasing use of the Internet for e-commerce is introducing new elements of risk that need to be considered by accountants when planning and performing the audit of financial statements. To assist auditors in identifying and assessing these...

The FASB will take on revenue recognition issues. (Audit).(Financial Accounting Standards Board)
July 1, 2002... To provide better and more comprehensive guidance as to when companies should record revenues, the Financial Accounting Standards Board (FASB) has added a project on revenue recognition to its agenda. "Revenue usually is the largest item in...

An unusual year produced unusual executive pay results. (Compensation & Recruitment).
July 1, 2002... In a year marked by economic turmoil, terrorist attacks, and corporate scandal, U.S. corporations took some unusual steps in compensating their top executives, according to the 2001 CEO Compensation Survey conducted by Mercer Human Resource...

The Business Roundtable unveils corporate governance best practices. (Disclosure).
July 1, 2002... The CEOs of approximately 150 of the largest corporations in America have announced core principles to help American public companies meet their corporate governance responsibilities more effectively. In the wake of the Enron bankruptcy, the...

Five years ago. (Retrospectives).
July 1, 2002... The best Silicon Valley boards tend to take an active role in the strategic direction of the company. This does not mean the directors try to micro-manage or "second-guess" management. Rather, directors are required to add value to the company...

Ten years ago. (Retrospectives).
July 1, 2002... Though I firmly believe Japan must change, I harbor no illusions that the transition will come swiftly or easily. However, until Japan is ready to redefine itself, it cannot hope to be accepted on the same stage as Europe and North America....

Books Received. (In Review).(Book Review)
July 1, 2002... The Atomic Corporation. By Roger Camrass and Martin Farncombe. Capstone Publishing. $29.95. Though management trends come and go, one basic belief of business is that companies will grow larger and more complex with long-term success. Such...

Articles & Speeches. (Spoken & Written).
July 1, 2002... In the face of earlier difficulties, the accounting firms and their trade association firmly resisted meaningful reform. They have satisfied themselves with weak oversight bodies, unduly dominated and financed by the profession itself. That...

AAR Corp. (Directors' Register).(Brief Article)
July 1, 2002... AAR Corp. has elected to its board James E. Goodwin, former chairman and chief executive officer of UAL Corporation.

AvantGo, Inc. (Directors' Register).(Brief Article)
July 1, 2002... AvantGo, Inc. has elected to its board William J. Miller, former chairman and chief executive officer of Quantum Corporation and former chairman and chief executive officer of Avid Technology, Inc.

Brunswick Corporation. (Directors' Register).(Brief Article)
July 1, 2002... Brunswick Corporation has elected to its board Ralph C. Stayer, chairman and chief executive officer of Johnsonville Sausage LLC.

C. R. Bard, Inc. (Directors' Register).(Brief Article)
July 1, 2002... C. R. Bard, Inc. has elected to its board Herbert L. Henkel, chairman, president and chief executive officer of Ingersoll-Rand Company, Ltd.

Coca-Cola Enterprises Inc. (Directors' Register).(Brief Article)
July 1, 2002... Coca-Cola Enterprises Inc. has elected to its board Marvin J. Herb, former owner of Herb Coca-Cola.

Cold Metal Products Inc. (Directors' Register).(Brief Article)
July 1, 2002... Cold Metal Products Inc. has elected to its board Timothy R. Duke, president, chief executive officer and treasurer of Steel of West Virginia Inc.

D&B. (Directors' Register).(Brief Article)
July 1, 2002... D&B has elected to its board Frederic V. Salerno, vice chairman and chief financial officer of Verizon Communications Inc.

Duke Energy Corporation. (Directors' Register).(Brief Article)
July 1, 2002... Duke Energy Corporation has elected to its board Michael Phelps, former chairman and chief executive officer of Westcoast Energy Inc.

Exelon Corporation. (Directors' Register).(Brief Article)
July 1, 2002... Exelon Corporation has elected to its board Nicholas DeBenedictis, chairman of Philadelphia Suburban Corporation.

Goodrich Corporation. (Directors' Register).(Brief Article)
July 1, 2002... Goodrich Corporation has elected to its board James W. Griffith, president and chief operating officer of The Timken Company.

Group 1 Automotive, Inc. (Directors' Register).(Brief Article)
July 1, 2002... Group 1 Automotive, Inc. has elected to its board Stephen D. Quinn, former general partner and managing director of Goldman Sachs & Co.

HCA Inc. (Directors' Register).(Brief Article)
July 1, 2002... HCA Inc. has elected to its board Charles O. Holliday, Jr., chairman and chief executive officer of E. I. du Pont de Nemours Company.

Iomega Corporation. (Directors' Register).
July 1, 2002... Iomega Corporation has elected to its board Louis Caldera, vice chancellor for university advancement for the California State University System, and Stephen N. David, chief information officer and business-to-business officer of The Procter &...

Lucent Technologies Inc. (Directors' Register).(Robert E. Denham)(Brief Article)
July 1, 2002... Lucent Technologies Inc. has elected to its board Robert E. Denham, partner in the law firm of Munger, Tolles & Olson LLP, and Daniel S. Goldin, senior fellow at the Council on Competitiveness.

MEDTOX Scientific, Inc. (Directors' Register).(Robert A. Rudell)(Brief Article)
July 1, 2002... MEDTOX Scientific, Inc. has elected to its board Robert A. Rudell, chief operating officer and chairman of the management committee of Zurich Scudder Investments.

Mercator Software, Inc. (Directors' Register).(Michael E. Lehman)(Brief Article)
July 1, 2002... Mercator Software, Inc. has elected to its board Michael E. Lehman, executive vice president of corporate resources, and chief financial officer of Sun Microsystems, Inc.

Northwest Airlines Corporation. (Directors' Register).(Robert L. Friedman)(Brief Article)
July 1, 2002... Northwest Airlines Corporation has elected to its board Robert L. Friedman, senior managing director of Blackstone Group LP.

Pacific Mutual Holding Co. (Directors' Register).(Dwight W. Decker)(Brief Article)
July 1, 2002... Pacific Mutual Holding Co. has elected to its board Dwight W. Decker, Ph.D., chairman and chief executive officer of Conexant Systems Inc.

The Pepsi Bottling Group, Inc. (Directors' Register).(Blythe J. McGarvie)(Brief Article)
July 1, 2002... The Pepsi Bottling Group, Inc. has elected to its board Blythe J. McGarvie, executive vice president and chief financial officer of BIC Group.

Quintiles Transnational Corp. (Directors' Register).(William L. Roper)(Brief Article)
July 1, 2002... Quintiles Transnational Corp. has elected to its board William L. Roper, M.D., dean of the School of Public Health, University of North Carolina at Chapel Hill.

Red Hat, Inc. (Directors' Register).(Marye Anne Fox)(Brief Article)
July 1, 2002... Red Hat, Inc. has elected to its board Marye Anne Fox, chancellor of North Carolina State University.

R.J. Reynolds Tobacco Holdings, Inc. (Directors' Register).(E. V. Goings)(Brief Article)
July 1, 2002... R.J. Reynolds Tobacco Holdings, Inc. has elected to its board E. V. Goings, chairman and chief executive officer of Tupperware Corporation.

Ryder System, Inc. (Directors' Register).(John H. Dasburg)(Brief Article)
July 1, 2002... Ryder System, Inc. has elected to its board John H. Dasburg, chairman, president and chief executive officer of Burger King Corporation and former president and chief executive officer of Northwest Airlines Corporation.

The St. Paul Companies, Inc. (Directors' Register).(Lawrence G. Graev)(Brief Article)
July 1, 2002... The St. Paul Companies, Inc. has elected to its board Lawrence G. Graev, president and chief executive officer of The GlenRock Group, LLC.

SangStat Medical Corporation. (Directors' Register).(Hollings C. Renton)(Brief Article)
July 1, 2002... SangStat Medical Corporation has elected to its board Hollings C. Renton, president and chief executive officer of Onyx Pharmaceuticals, Inc.

E.W. Scripps Company. (Directors' Register).(appoints Lee Masters)(Brief Article)
July 1, 2002... E. W. Scripps Company has elected to its board Lee Masters, chairman of the Mohn Family Trust and former president and chief executive officer of Liberty Digital.

Securian Financial Group, Inc. (Directors' Register).(appoints Webb Edwards)(Brief Article)
July 1, 2002... Securian Financial Group, Inc. has elected to its board Webb Edwards, president of Wells Fargo Services Company.

Woodward Governor Company. (Directors' Register).(appoints James R. Rulseh)(Brief Article)
July 1, 2002... Woodward Governor Company has elected to its board James R. Rulseh, group vice president of Modine Manufacturing Company.

Steve Odland: Autozone's trendsetting governance. (Conversations).(corporate America)(Interview)
July 1, 2002... When a corporation makes radical, progressive changes in its corporate governance, the cause is often a deathbed conversion prompted by a turnaround effort or shareholder pressures. Sometimes, though, boards and executives are willing to make...