Too often fail in their responsibility of CEO oversight?
How about hardly ever function in their role of CEO oversight? That is my perspective. Maybe I have not been in enough board rooms.
“How about hardly ever function in their role of CEO oversight? That is my perspective.”
Board seats are worth $250,000 to $500,000 per year in compensation to the board member. Add to that any consulting or legal work the firm contracts to the board member’s law firm, consulting practice, or academic institution. There is also a interlocking network of board relationships that can result in professional board members sitting on four or five boards. Very few board members with $1,000,000 to $2,000,000 in annual compensation resulting from service on 4 boards is going to bite the hand doling out the money. What CEO is going to appoint someone to the board who has a reputation for asking tough questions or demanding accountability?