Corporate Board articles from May 2003

Corporate Board archives from May 2003

Financial markets and corporate governance.
May 1, 2003... What defines good corporate governance? The author notes that corporate financial structures and global ownership patterns are vital--but undervalued--factors in good governance. In the U.S., complex new financial instruments such as...

Corporate governance ratings: what do they mean?
May 1, 2003... The idea of rating public companies on their governance practices was barely a glimmer a year ago. Today, it has become a boom industry with investor groups, proxy firms, and consultants all launching their own governance scorecards. Why does...

Creating a climate of corporate integrity.
May 1, 2003... Critics from outside the corporate world have long attacked corporations as being amoral and greedy, routinely placing their own growth and success ahead of any concept of public responsibility. Until recently it has been possible to write off...

Shaping your whistleblower system.
May 1, 2003... The governance elements of the federal Sarbanes-Oxley law have been well discussed, but actual implementation is proving a challenge. One such challenge is the demand for employee "whistleblower" programs which bring employee concerns over...

Boardroom bankruptcy issues.
May 1, 2003... With the economy stagnating, more boards find themselves facing the hard choices of corporate bankruptcy. Bear in mind that successful Chapter 11 reorganizations are the exception, success will be an uphill battle, and you may be exposed to...

CFOs take the lead on private company audit reforms. (Audit).
May 1, 2003... New accounting regulations have placed a spotlight on public companies, but how is the rest of corporate America reacting? In a just-released survey of privately held businesses, 58 percent of chief financial officers said they are implementing...

Today's CEOs are younger--but the job is tougher. (Boardroom Composition).(Brief Article)
May 1, 2003... The 2003 Chief Executive Magazine! Spencer Stuart "Route to the Top" study of Fortune 700 CEOs reveals that today's leaders are a different breed from ten, and even five, years ago--and that their jobs are tougher than ever. "The trigger...

Guidance offered for boards and audit committees. (Boardroom Composition).
May 1, 2003... PricewaterhouseCoopers is offering ideas for corporations to consider in complying with the Sarbanes-Oxley Act of 2002. The central themes of the reforms are increased independence and empowerment of boards and audit committees, ethical...

Outside director pay on the rise. (Compensation & Recruitment).(Brief Article)
May 1, 2003... A study conducted by the Christian & Timbers executive search firm reveals a distinct upward trend in fees paid by companies to their outside, or independent, directors. Of the 65 companies interviewed in December 2002, 83 percent believed that...

Study examines CEO golden parachute plans. (Pensions & Benefits).
May 1, 2003... CEOs who departed during 2002 and 2001 received an average golden parachute of $16.5 million, based on findings in a study of termination policy and practice in the S&P 500 by The Corporate Library. However, this figure underestimates the total...

What is the CFO's role in future financial reform? (Strategy & Finance).
May 1, 2003... Tomorrow's chief financial officer must play a leading role in restoring business integrity, serving both as a company's fiduciary steward and a key corporate strategist. In the wake of the passage of new federal corporate-disclosure...

Ten years ago. (Retrospectives).(Brief Article)
May 1, 2003... What keeps directors awake at night about merger and acquisition plans is risk--their personal and corporate risk for potential losses due to the acquisition, and through possible lawsuits by shareholders and other parties. Even when the...

Five years ago. (Retrospectives).(An Investor's View of Corporate Governance)(Brief Article)
May 1, 2003... I have observed that the worst of all possible worlds can occur when a company is headed by a CEO who is highly intelligent, a charismatic leader, a dynamic personality and a great communicator--and yet somehow has it wrong. The damage that...

Books received.(Book Review)
May 1, 2003... A Blueprint for Corporate Governance. By Fred R. Kaen. AMACOM. $29.95. A useful, brief textbook on the specific shareholder, valuation and financial aspects of governance. Technical, but informative. The Mind of Wall Street. By Leon Levy....

Acuity Brands, Inc. (Directors' Register).(Robert F. McCullough elected to its board of directors)(Brief Article)
May 1, 2003... Acuity Brands, Inc. has elected to its board Robert F. McCullough, chief financial officer and board member of AMVESCAP PLC.

Argonaut Group, Inc. (Directors' Register).(has elected Hector DeLeon to its board of directors)(Brief Article)
May 1, 2003... Argonaut Group, Inc. has elected to its board Hector DeLeon, managing partner of DeLeon, Boggins & Icenogle, P.C.

Bausch & Lomb Incorporated. (Directors' Register).(has elected Barry W. Wilson to its board of directors)(Brief Article)
May 1, 2003... Bausch & Lomb Incorporated has elected to its board Barry W. Wilson, senior vice president of Medtronic, Inc.

Baxter International Inc. (Directors' Register).(has elected Dr. James R. Gavin to its board of directors)(Brief Article)
May 1, 2003... Baxter International Inc. has elected to its board Dr. James R. Gavin, president of Morehouse School of Medicine.

Beazer Homes USA, Inc. (Directors' Register).(Stephen P. Zelnak Jr.)(Brief Article)
May 1, 2003... Beazer Homes USA, Inc. has elected to its board Stephen P. Zelnak, Jr., chairman and chief executive officer of Martin Marietta Materials, Inc.

The Coca-Cola Company. (Directors' Register).(Brief Article)
May 1, 2003... The Coca-Cola Company has elected to its board Maria Elena Lagomasino, chairman and chief executive officer of J.P. Morgan Private Bank.

Deere & Company. (Directors' Register).(Brief Article)
May 1, 2003... Deere & Company has elected to its board Dr. Joachim Milberg, former chief executive officer of BMW.

Engelhard Corporation. (Directors' Register).(Brief Article)
May 1, 2003... Engelhard Corporation has elected to its board Louis J. Giuliano, chairman, president and chief executive officer of ITT Industries, Inc.

Foamex International Inc. (Directors' Register).(Brief Article)
May 1, 2003... Foamex International Inc. has elected to its board Henry Tang, partner at Baker Botts L.L.P.

Granite Construction Incorporated. (Directors' Register).(David H. Kelsey)(Brief Article)
May 1, 2003... Granite Construction Incorporated has elected to its board David H. Kelsey, vice president and chief financial officer of Sealed Air Corporation.

GTECH Holdings Corporation. (Directors' Register).(James F. McCann)(Brief Article)
May 1, 2003... GTECH Holdings Corporation has elected to its board James F. McCann, chairman and chief executive officer of l-800-FLOWERS.COM, Inc.

Louisiana-Pacific Corporation. (Directors' Register).(Brief Article)
May 1, 2003... Louisiana-Pacific Corporation has elected to its board Daniel K. Frierson, chairman and chief executive officer of The Dixie Group, Inc.

Molex Incorporated. (Directors' Register).
May 1, 2003... Molex Incorporated, has elected to its board Michelle L. Collins, co-founder of Svoboda Collins LLC.

The MONY Group Inc. (Directors' Register).
May 1, 2003... The MONY Group Inc. has elected to its board Margaret M. Foran, vice president of corporate governance and secretary of Pfizer Inc.

Murphy Oil Corporation. (Directors' Register).
May 1, 2003... Murphy Oil Corporation has elected to its board Frank W. Blue, attorney with Fulbright & Jaworski L.L.P., and Dr. Ivar B. Ramberg, executive officer of Ramberg Consulting AS.

National Fuel Gas Company. (Directors' Register).(R. Don Cash)(Brief Article)
May 1, 2003... National Fuel Gas Company has elected to its board R. Don Cash, chairman of Questar Corporation.

Northrop Grumman Corporation. (Directors' Register).
May 1, 2003... Northrop Grumman Corporation has elected to its board Philip A. Odeen, former chairman of TRW Inc.

Northwest Airlines Corporation. (Directors' Register).
May 1, 2003... Northwest Airlines Corporation has elected to its board John Engler, former governor of Michigan.

PepsiCo, Inc. (Directors' Register).
May 1, 2003... PepsiCo, Inc. has elected to its board James Schiro, chief executive officer of Zurich Financial Services.

Phelps Dodge Corporation. (Directors' Register).
May 1, 2003... Phelps Dodge Corporation has elected to its board Jon C. Madonna, chairman of DigitalThink, Inc.

The Pittston Company. (Directors' Register).(Brief Article)
May 1, 2003... The Pittston Company has elected to its board Michael L. Grimes, president and chief executive officer of Stewart & Stevenson Services, Inc.

Ross Stores, Inc. (Directors' Register).
May 1, 2003... Ross Stores, Inc. has elected to its board K. Gunnar Bjorklund, co-founder and managing director of Sverica International Management LLC.

Safeguard Scientifics, Inc. (Directors' Register).
May 1, 2003... Safeguard Scientifics, Inc. has elected to its board Julie A. Dobson, former chief operating officer of TeleCorp PCS, George MacKenzie, former vice chairman of Hercules Incorporated, and John J. Roberts, former global managing partner of...

Sara Lee Corporation. (Directors' Register).
May 1, 2003... Sara Lee Corporation has elected to its board Laurette T. Koellner, executive vice president and member of the office of the chairman of The Boeing Company.

The Sherwin-Williams Company. (Directors' Register).(Brief Article)
May 1, 2003... The Sherwin-Williams Company has elected to its board Susan J. Kropf, president and chief operating officer of Avon Products, Inc.

Sterling Financial Corporation. (Directors' Register).
May 1, 2003... Sterling Financial Corporation has elected to its board Michael A. Carenzo, senior partner of Cadwa Associates.

Synopsys, Inc. (Directors' Register).
May 1, 2003... Synopsys, Inc. has elected to its board Roy Vallee, chairman and chief executive officer of Avnet, Inc.

United Parcel Service, Inc. (Directors' Register).
May 1, 2003... United Parcel Service, Inc. has elected to its board Carol B. Tome, executive vice president and chief financial officer of The Home Depot, Inc.

USFreightways Corporation. (Directors' Register).(Paul J. Liska)(Brief Article)
May 1, 2003... USFreightways Corporation has elected to its board Paul J. Liska, executive vice president of Sears, Roebuck and Co.

Viad Corp. (Directors' Register).
May 1, 2003... Viad Corp has elected to its board Dr. Albert M. Teplin, economist and former member of the Board of Governors of the Federal Reserve System.

Western Digital Corporation. (Directors' Register).
May 1, 2003... Western Digital Corporation has elected to its board William L. Kimsey, former chief executive officer of Ernst & Young.

Conversations.(interview with Sherron Watkins, former Enron vice president)(Interview)
May 1, 2003... Sherron Watkins: Enron, Governance And Scandal The most infamous of last year's corporate scandals was the massive financial fraud at Enron. Yet one person emerged from this scandal not only with fame, but respect, former Enron vice...