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Directors more assertive in corporate governance

Madison, Wis. - When it comes to building an effective board of directors, it's a different world than the one that existed five years ago.

In the wake of accounting scandals that rocked corporate America and led to the passage of Sarbanes-Oxley, board service requires much more time and commitment than ever, and there is more liability a......

Full article >>> http://www.sec.gov">Securities and Exchange Commission, which had received an anonymous letter regarding the improprieties, wanted stronger governance sooner rather than later.

So Chrenc joined the board as Symbol faced stock market delisting, and as its auditors were being sued. In all, 12 members of the senior management team were indicted - the CEO fled to Sweden, his wife's native......

Full article >>> nizational culture. I represented a company that had all kinds of written policies on ethics and good business practices and so forth, he said. And the CEO was a bully, and he said to these people, `The [Wall] Street is looking for $1 a share this quarter. We're going to make $1 a share this quarter, and I don't care how the hell you do it, but if you don't do it, you're fired.' And that terrorize......

Full article >>> s and people could do that.

Well, they were all in the same environment, and I think had there been more diverse views on those boards at the time, more people from different cultural backgrounds, different experiences, the issue may have come to the fore earlier than having it the way it is now, with indictments and so forth.

In the end, even though a collegial environment is im......

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Source:wistechnology.com By Joe Vanden Plas 11/06/06


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