21st Century Corporate Board by Ward, Ralph D-Hardcover
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Over the past decade, significant shifts in corporate leadership have reshaped the board's role within business. Once a domain for the elite, the modern corporate board has evolved into a self-sufficient power hub for corporate decision-making. What caused this transformation, and why? More importantly, how will future boards leverage their newfound influence to tackle emerging challenges? 21st Century Corporate Board explores these pivotal questions and more, providing an insightful analysis of the forces shaping corporate governance and presenting an innovative framework for the structures, tools, and knowledge needed for effective boards of the future.
The book delves into key topics such as board composition, compensation, and training, addressing issues like strategic recruitment, performance-based pay, director certification, and virtual board meetings. It also examines the evolution of board operations, including management collaboration, legal and compliance concerns, and the roles of special committees. In today’s corporate boards, directors must balance thinking like owners, acting like managers, and maintaining their independence. With its sharp, market-driven perspective, this book uncovers the complexities of loyalty and focus in the modern corporate environment, providing valuable insights into the future priorities of the corporate board.
A Comprehensive Guide to the Future of Corporate Governance
Factors like regulations, economics, shareholders, and legal battles have turned the corporate board into a dominant, independent force. Corporate governance expert Ralph Ward breaks down the "how and why" of this transformation, offering an extensive, critical look at the challenges the 21st-century corporate board will face. The book covers essential topics including:
The impact of "new directors," such as women, minorities, entrepreneurs, and executives from lower levels, on corporate dynamics.
The growing professionalism in boards, including director certification and increased accountability.
Managing stakeholder interests, including employees and local communities.
The pros and cons of compensating directors with stock—should directors also be major shareholders?
Future regulations from the SEC, IRS, and stock exchanges, and preparing for compliance.
The increasing power of board committees and its implications for the board's overall structure.
The emerging conflict between shareholder groups over control of the board's agenda.
The new balance directors must strike—independent yet involved, powerful but responsive, focusing on both short-term goals and long-term vision.
