Great Companies deserve great boards and the board of directors should be an important asset to the shareholders it reports to, the chief executive it oversees and the company it governs.
As the modern day complexities of corporate governance grow, along with the personal liabilities of Board members, one of the most important things that a Board can do to strengthen its own performance is to take the time to reflect on what it’s doing well and where it is more challenged; research has clearly demonstrated that Boards that take the time to regularly assess their performance are more effective than those that don’t. So the first question a Board of Directors needs to ask itself is: “Should we implement only the minimum required for compliance or is it worth investing in a more ambitious approach that has the potential to improve our overall governance?”
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