Corporate Board articles from November 2008

Corporate Board archives from November 2008

The value of internal audit in corporate governance.
November 1, 2008... Today, corporate boards must provide close oversight of such vital issues as finance, accounting, risk management, and compliance in often-complex organizations. Yet there is an organization within the company that has been shaping just the...

IFRS: The financial road ahead.
November 1, 2008... After becoming the world's de facto system for financial statements, the International Financial Reporting Standards (IFRS) are now coming to the United States. In late August, the SEC unveiled a proposed roadmap for converting the U.S. GAAP...

A new paradigm for director pay.
November 1, 2008... The changing techniques of director pay reflect shifting investor consensus on what they want their boards to do. A push for more director share ownership means investors want directors to be true owners. A move away from meeting fees implies...

Should you have a CIO on your board?(Survey)
November 1, 2008... Technology and information are increasingly at the heart of American business. Corporate boards have realized that their governance will be lacking without this top-level technology insight, so cutting-edge boards are seeking Chief Information...

What the Stoneridge decision means for liability.
November 1, 2008... One of the year's biggest U.S. Supreme Court decisions regarding business was Stoneridge v. Scientific-Atlanta. At issue, should third parties be held liable when their clients and business partners perpetrate a fraud on their shareholders? The...

Private equity investors will pay a premium for companies with solid anti-fraud programs.(Audit)
November 1, 2008... According to a study by BDO Consulting, LLP, 37 percent of top executives at leading U.S. private equity firms have been exposed to corporate fraud through their investments and 40 percent of these investors say the impact on their investment...

New legal developments shift the definitions of "director independence.".(Boardroom Practice)
November 1, 2008... Several noteworthy developments have occurred regarding director independence, according to law firm Gibson, Dunn. * First, on August 8, 2008, the Securities and Exchange Commission approved amendments to the definition of "independent...

Global flow of labor and talent will become a major corporate strategic issue.(Compensation & Recruitment)
November 1, 2008... The supply of both skilled and unskilled labor in major economies is expected to decrease significantly over the next decade, creating challenges for business leaders and opportunities for the global workforce to migrate to understaffed...

A California decisions boosts boards and the business judgment rule.(Liability & Litigation)
November 1, 2008... The law firm of Nelson Levine de Luca & Horst writes that both State Farm Mutual Insurance Company and the insurance industry achieved a major victory when the Superior Court of Los Angeles County granted summary judgment for State Farm in the...

Five years ago in The Corporate Board.(Retrospectives)
November 1, 2008... A corporate culture can seek to articulate and to foster values such as operating a strong internal control system, discussing results and risks candidly, and acting with integrity and ethics as first principles. A good CEO and board understand...

Books received.(Bibliography)
November 1, 2008... Billion Dollar Lessons. By Paul B. Carroll and Chunka Mui. Portfolio. $25.95. So many of our biggest business failures (not frauds, just bad decisions) seemed reasonable at the time. However, the authors uncover several common strategic fumbles...

Atmos Energy Corporation.(Directors' Register: Recent Board Elections)
November 1, 2008... Atmos Energy Corporation has elected to its board Ruben E. Esquivel, vice president for community and corporate relations at The University of Texas Southwestern Medical Center.

AutoZone, Inc.(Directors' Register: Recent Board Elections)
November 1, 2008... AutoZone, Inc. has elected to its board Robert R. Grusky, founder and managing member of Hope Capital Management, LLC, and William C. Crowley, executive vice president and chief administrative officer of Sears Holdings Corporation.

Barnes Group Inc.(Directors' Register: Recent Board Elections)
November 1, 2008... Barnes Group Inc. has elected to its board Thomas J. Albani, former chief executive officer of Electrolux Corporation.

Comerica Incorporated.(Directors' Register: Recent Board Elections)
November 1, 2008... Comerica Incorporated has elected to its board Jacqueline P. Kane, senior vice president of human resources and corporate affairs at The Clorox Company, and Nina G. Vaca, chief executive officer of Pinnacle Technical Resources, Inc.

Convergys Corporation.(Directors' Register: Recent Board Elections)
November 1, 2008... Convergys Corporation has elected to its board Ronald L. Nelson, chairman and chief executive officer of Avis Budget Group, Inc.

Corinthian Colleges, Inc.(Directors' Register: Recent Board Elections)
November 1, 2008... Corinthian Colleges, Inc. has elected to its board The Honorable Leon E. Panetta, co-director of The Leon and Sylvia Panetta Institute for Public Policy and former White House Chief of Staff to President Clinton.

Downey Financial Corp.(Directors' Register: Recent Board Elections)
November 1, 2008... Downey Financial Corp. has elected to its board Paul M. Homan, former national bank examiner and bank supervisor with the Office of the Comptroller of the Currency.

GenCorp Inc.(Directors' Register: Recent Board Elections)
November 1, 2008... GenCorp Inc. has elected to its board Thomas A. Corcoran, senior advisor to the aerospace and defense sector of The Carlyle Group and president of Corcoran Enterprises, LLC.

Guaranty Financial Group Inc.(Directors' Register: Recent Board Elections)
November 1, 2008... Guaranty Financial Group Inc. has elected to its board James J. Unger, president and chief executive officer of American Railcar Industries, Inc.

Harsco Corporation.(Directors' Register: Recent Board Elections)
November 1, 2008... Harsco Corporation has elected to its board Henry W. Knueppel, chairman and chief executive Officer of Regal Beloit Corporation.

Hewlett-Packard Company.(Directors' Register: Recent Board Elections)
November 1, 2008... Hewlett-Packard Company has elected to its board Raj Gupta, chairman and chief executive officer of Rohm and Haas Company.

Hillenbrand, Inc.(Directors' Register: Recent Board Elections)
November 1, 2008... Hillenbrand, Inc. has elected to its board Stuart A. Taylor II, chief executive officer of The Taylor Group, LLC and former senior managing director at Bear, Steams & Co. Inc.

Humana Inc.(Directors' Register: Recent Board Elections)
November 1, 2008... Humana Inc. has elected to its board Marissa T. Peterson, former executive vice president of worldwide operations, executive vice president of services and chief customer advocate of Sun Microsystems, Inc.

International Business Machines Corporation.(Directors' Register: Recent Board Elections)
November 1, 2008... International Business Machines Corporation has elected to its board Taizo Nishimuro, chairman of the Tokyo Stock Exchange Group, Inc.

International Flavors & Fragrances Inc.(Directors' Register: Recent Board Elections)
November 1, 2008... International Flavors & Fragrances Inc. has elected to its board Douglas D. Tough, chief executive officer of Ansell Limited, and Katherine M. Hudson, former chairman, president and chief executive officer of Brady Corporation.

MDU Resources Group, Inc.(Directors' Register: Recent Board Elections)
November 1, 2008... MDU Resources Group, Inc. has elected to its board A. Bart Holaday, former head of the Private Markets Group of UBS Asset Management, and Thomas C. Knudson, president of Tom Knudson Interests, LLC and chairman of Bristow Group Inc.

Northrop Grumman Corporation.(Directors' Register: Recent Board Elections)
November 1, 2008... Northrop Grumman Corporation has elected to its board Karl J. Krapek, former president and chief operating officer of United Technologies Corporation.

Nucor Corporation.(Directors' Register: Recent Board Elections)
November 1, 2008... Nucor Corporation has elected to its board Christopher J. Kearney, chairman, president and chief executive officer of SPX Corporation.

Owens-Illinois, Inc.(Directors' Register: Recent Board Elections)
November 1, 2008... Owens-Illinois, Inc. has elected to its board David H. Y. Ho, chairman of the Greater China Region for Nokia Siemens Networks.

Progress Energy, Inc.(Directors' Register: Recent Board Elections)
November 1, 2008... Progress Energy, Inc. has elected to its board James B. Hyler, Jr., former vice chairman, president and chief operating officer of First Citizens Bank.

Regulus Therapeutics LLC.(Directors' Register: Recent Board Elections)
November 1, 2008... Regulus Therapeutics LLC has elected to its board Stelios Papadopoulos, Ph.D., former vice chairman of Cowen and Company, LLC.

SLM Corporation.(Directors' Register: Recent Board Elections)
November 1, 2008... SLM Corporation has elected to its board J. Terry Strange, former vice chairman and managing partner of the U.S. audit practice at KPMG LLP.

Staples, Inc.(Directors' Register: Recent Board Elections)
November 1, 2008... Staples, Inc. has elected to its board Elizabeth A. Smith, president of Avon Products, Inc.

Syniverse Technologies, Inc.(Directors' Register: Recent Board Elections)
November 1, 2008... Syniverse Technologies, Inc. has elected to its board Fritz von Mering, managing director of Miles River Management.

Taleo Corporation.(Directors' Register: Recent Board Elections)
November 1, 2008... Taleo Corporation has elected to its board Jeffrey Stiefler, former chairman, president and chief executive officer of Digital Insight Corporation.

UniSource Energy Corporation.(Directors' Register: Recent Board Elections)
November 1, 2008... UniSource Energy Corporation has elected to its board Louise L. Francesconi, former president of Raytheon Missile Systems.

Valero Energy Corporation.(Directors' Register: Recent Board Elections)
November 1, 2008... Valero Energy Corporation has elected to its board Stephen M. Waters, managing partner of Compass Advisers LLP.

Sam Wyly: an entrepreneur looks at boards.(Conversations)(Interview)
November 1, 2008... Sam Wyly is one of America's most successful serial entrepreneurs of the past half century, but has done an excellent job of flying under the corporate radar--until now. Publication of Wyly's new biography, 1,000 Dollars & an Idea...