Corporate Board articles from May 2004

Corporate Board archives from May 2004

Putting Sarbanes-Oxley to work in the boardroom.
May 1, 2004... The U.S. Sarbanes-Oxley law and related stock exchange listing rules are forcing radical change on our basic corporate governance procedures. Jeff Rodek, chairman and CEO of Hyperion Solutions, offers a first-hand report on how his board is...

Improving board information flow.
May 1, 2004... All the governance reform laws and regulations in the world will not improve the fiduciary oversight of a board that is out of touch with the corporation. Boards must now be far better informed about the company, its people and its industry...

Rethinking your board committees.(audit, compensation, governance committees)
May 1, 2004... Governance reform laws will have little value if corporate boards lack the infrastructure to make them work. As the board's role has become increasingly hands-on and tactical, its committees are now a hot spot for the actual work of governance....

The new SEC disclosure rules.(Sarbanes-Oxley)
May 1, 2004... Terms like "SEC Section 404" and "disclosure controls" may seem like legal technicalities, but corporate directors are learning the hard way that they are key to the SEC's new corporate disclosure reforms. With harsh penalties and shifting...

Director best practices after the Disney and Oracle decisions.
May 1, 2004... While governance reform laws have monopolized boardroom discussion lately, two Delaware court decisions are attracting attention as well. According to shareholder plaintiffs' lawyers, the Walt Disney case sets a higher standard for claiming...

The PCAOB approves a standard for internal control audits.(Public Company Accounting Oversight Board)(Brief Article)
May 1, 2004... The Public Company Accounting Oversight Board (PCAOB) in March approved a standard for audits of internal control over financial reporting and proposed amendments to the board's interim auditing standards to conform them to the new standard....

Outside directors may not benefit firms in emerging economies.(Boardroom Composition)
May 1, 2004... Outside directors on corporate boards may not necessarily help boost the bottom lines of companies in emerging economies, according to two recent studies. The results contradict the common business wisdom that companies, especially those in...

IT expertise remains rare in the boardroom.(Boardroom Composition)(Brief Article)
May 1, 2004... Despite their growing reliance on technology, only five percent of global 500 companies report having Chief Information Officers (CIO) or Chief Technology Officers (CTO) on their boards, according to Burson-Marsteller. Their research reveals...

A tide of governance change is hitting multinational firms.(Boardroom Practice)
May 1, 2004... The relationship between management and boards of directors at U.S. multinational companies has been changed dramatically through an array of corporate governance initiatives begun in response to corporate scandals, the Sarbanes-Oxley Act, and...

More boards are getting involved in company ethics programs.(Corporate Responsibility)
May 1, 2004... New governance standards have caused a growing number of boards worldwide to become more involved in companies' ethics programs, according to a report by The Conference Board. The report includes a far-reaching review of best governance...

More firms consider "captive" financing for benefits programs.(Pensions & Benefits)
May 1, 2004... Large employers with global workforces can realize significant cost savings by using captive insurance companies to finance employee benefit programs, according to a survey by Towers Perrin. The survey reveals an emerging trend as companies...

Five years ago in The Corporate Board.(Retrospectives)
May 1, 2004... While American CEOs do make a large contribution to the success of their companies, they usually do it in concert with many other talented senior executives. These men and women also need to feel well rewarded for their contributions. The...

Ten years ago in The Corporate Board.(Retrospectives)
May 1, 2004... It may be natural, at the onset of a revolution, to get caught up in the giddiness of potentials. Yet technology advanced is not necessarily technology embraced. Social trends and customer needs have always defined what is actually used. People...

Corporate Governance: Accountability in the Marketplace.(Book Review)(Brief Review)
May 1, 2004... Corporate Governance: Accountability in the Marketplace. By Elaine Sternberg. Institute of Economic Affairs. $27.75. One of Europe's most respected governance observers provides a brief but insightful overview of the world's major governance...

Pay to Prosper: Using Value Rules to Reinvent Executive Incentives.(Book Review)(Brief Review)
May 1, 2004... Pay to Prosper: Using Value Rules To Reinvent Executive Incentives. By Richard N. Ericson. WorldatWork. $69.95. The complexity, demands (and costs) of executive pay have soared. This book's comprehensive review of global compensation best...

Spoken & written: articles & speeches.
May 1, 2004... Independent chairpersons obviously didn't prevent past abuses, since a number of the mutual-fund companies involved in the scandals had independent chairmen. So the government's argument that independents are the silver bullet to prevent abuses...

Albertson's, Inc.(Directors' register: recent board elections)(Brief Article)
May 1, 2004... Albertson's, Inc. has elected to its board Beth Pritchard, former president and chief executive officer of Bath & Body Works, Inc.

American Express Company.(Directors' register: recent board elections)(Brief Article)
May 1, 2004... American Express Company has elected to its board Ursula M. Burns, senior corporate vice president and president of business group operations for Xerox Corporation.

Amgen Inc.(Directors' register: recent board elections)(Brief Article)
May 1, 2004... Amgen Inc. has elected to its board Leonard D. Schaeffer, chairman and chief executive officer of WellPoint Health Networks Inc.

Applied Materials, Inc.(Directors' register: recent board elections)(Brief Article)
May 1, 2004... Applied Materials, Inc. has elected to its board Willem P. Roelandts, chairman, president and chief executive officer of Xilinx, Inc.

AT&T Corp.(Directors' register: recent board elections)(Brief Article)
May 1, 2004... AT&T Corp. has elected to its board Herbert L. Henkel, chairman, president and chief executive officer of Ingersoll-Rand Company Limited.

CIT Group Inc.(Directors' register: recent board elections)(Brief Article)
May 1, 2004... CIT Group Inc. has elected to its board Gary C. Butler, president and chief operating officer of Automatic Data Processing, Inc.

The Coca-Cola Company.(Directors' register: recent board elections)(Brief Article)
May 1, 2004... The Coca-Cola Company has elected to its board Donald R. Keough, chairman of Allen & Company Incorporated.

Colgate-Palmolive Company.(Directors' register: recent board elections)(Brief Article)
May 1, 2004... Colgate-Palmolive Company has elected to its board Elizabeth A. Monrad, executive vice president and chief financial officer of TIAA-CREF.

Computer Sciences Corporation.(Directors' register: recent board elections)(Brief Article)
May 1, 2004... Computer Sciences Corporation has elected to its board Thomas H. Patrick, former executive vice chairman, finance and administration, of Merrill Lynch & Co., Inc.

Crown Holdings, Inc.(Directors' register: recent board elections)(Brief Article)
May 1, 2004... Crown Holdings, Inc. has elected to its board G. Fred DiBona, Jr., president and chief executive officer of Independence Blue Cross.

Dow Corning Corporation.(Directors' register: recent board elections)(Brief Article)
May 1, 2004... Dow Corning Corporation has elected to its board Andrew N. Liveris, president and chief operating officer of The Dow Chemical Company.

Fannie Mae has elected to its board Leslie Rahl.(Directors' register: recent board elections)(Brief Article)
May 1, 2004... Fannie Mae has elected to its board Leslie Rahl, president and founder of Capital Market Risk Advisors.

Ford Motor Company.(Directors' register: recent board elections)(Brief Article)
May 1, 2004... Ford Motor Company has elected to its board Stephen G. Butler, former chairman and chief executive officer of KPMG L.L.P.

The Hartford Financial Services Group, Inc.(Directors' register: recent board elections)(Brief Article)
May 1, 2004... The Hartford Financial Services Group, Inc. has elected to its board Ronald E. Ferguson, former chairman and chief executive officer of General Re Corporation.

Health Net, Inc.(Directors' register: recent board elections)(Brief Article)
May 1, 2004... Health Net, Inc. has elected to its board Theodore F. Craver, Jr., executive vice president and chief financial officer of Edison International, and Frederick C. Yeager, senior vice president of finance of Time Warner Inc.

HughesSupply, Inc.(Directors' register: recent board elections)(Brief Article)
May 1, 2004... Hughes Supply, Inc. has elected to its board Patrick J. Knipe, former managing and audit partner of Coopers & Lybrand L.L.P.

Hyperion Solutions Corporation.(Directors' register: recent board elections)(Brief Article)
May 1, 2004... Hyperion Solutions Corporation has elected to its board Yorgen H. Edholm, president and chief executive officer of Accellion, Inc. and founder of Brio Software, Inc.

NCRIC Group, Inc.(Directors' register: recent board elections)(Brief Article)
May 1, 2004... NCRIC Group, Inc. has elected to its board Frank Ross, former managing partner of KPMG L.L.P.

ONEOK, Inc.(Directors' register: recent board elections)(Brief Article)
May 1, 2004... ONEOK, Inc. has elected to its board James C. Day, chairman and chief executive officer of Noble Corporation.

Payless ShoeSource, Inc.(Directors' register: recent board elections)(Brief Article)
May 1, 2004... Payless ShoeSource, Inc. has elected to its board Michael A. George, chief marketing officer and general manager of U.S. consumer business for Dell Inc.

PG&E Corporation.(Directors' register: recent board elections)(Brief Article)
May 1, 2004... PG&E Corporation has elected to its board Leslie S. Biller, former vice chairman and chief operating officer of Wells Fargo & Company.

PULSE EFT Association.(Directors' register: recent board elections)(Brief Article)
May 1, 2004... PULSE EFT Association has elected to its board Jerry Host, director of Trustmark National Bank and president of Trustmark's General Banking.

Qwest Communications International Inc.(Directors' register: recent board elections)(Brief Article)
May 1, 2004... Qwest Communications International Inc. has elected to its board Charles L. Biggs, former senior partner in Deloitte Consulting, and K. Dane Brooksher, chairman and chief executive officer of ProLogis.

Saks Incorporated.(Directors' register: recent board elections)(Brief Article)
May 1, 2004... Saks Incorporated has elected to its board Robert B. Carter, executive vice president, chief information officer and member of the executive management committee of FedEx Corporation.

Sprint Corporation.(Directors' register: recent board elections)(Brief Article)
May 1, 2004... Sprint Corporation has elected to its board Gordon Bethune, chairman and chief executive officer of Continental Airlines, Inc., and Deborah Henretta, president of The Procter & Gamble Company's global baby care division.

Sunoco, Inc.(Directors' register: recent board elections)(Brief Article)
May 1, 2004... Sunoco, Inc. has elected to its board John K. Wulff, non-executive chairman of Hercules Incorporated.

TXU Corp.(Directors' register: recent board elections)(Brief Article)
May 1, 2004... TXU Corp. has elected to its board Dr. Gail de Planque, president of Strategy Matters, Inc.

UICI.(Directors' register: recent board elections)(Brief Article)
May 1, 2004... UICI has elected to its board Mick Thompson, Oklahoma Bank Commissioner and former Oklahoma State Representative.

Unocal Corporation.(Directors' register: recent board elections)(Brief Article)
May 1, 2004... Unocal Corporation has elected to its board Craig Arnold, senior vice president and group executive for Eaton Corporation's Fluid Power business, Richard D. McCormick, former chairman of U.S. West, Inc., and Mark A. Suwyn, chairman and chief...

Conversations: Barbara Hackman Franklin: audit committees working overtime.(Interview)
May 1, 2004... Barbara Hackman Franklin served as the 29th U.S. Secretary of Commerce and was the highest-ranking woman in the first Bush administration. She is best known for her expertise in corporate governance, particularly auditing and audit committees....