Could Board Evaluations Have Averted the Recent Carnegie Hall Board Fiasco?

Carnegie Hall needed board evaluations

Carnegie Hall needed to anonymously administer board evaluations... several years ago.

Carnegie Hall is just the latest example of how corporate governance — defined as the mechanisms and processes by which an entity is controlled and directed — can utterly fail. Deeper examination offers insight into some of the fundamental changes that are needed.

Live Webcast 7/28/15: Measuring Board Effectiveness

Agenda is hosting a webcast on measuring board effectiveness on Tuesday, July 28th from 11:00am to 12:00pm ET. Byron Loflin, President and CEO of Center for Board Excellence along with Stephen Giove, partner at Shearman & Sterling, are the featured panelists. They will discuss the processes associated with conducting effective evaluations and how boards can use the results to enhance board performance. 

Board Refreshment: Using Evaluation Metrics To Reposition Your Board For Success

In my earlier post, "Why It's Time for a Corporate Board Peer Assessment, I discussed investor expectations regarding board refreshment, and how current mechanisms for effectuating board renewal (e.g., age and term limits) have been ineffective in achieving the diversification investors demand. A robust assessment process, which includes peer assessments, greatly assists the board in its refreshment efforts.

Cyber Prudence: 12 Cyber Security Questions that Your Board Should Be Asking

The derivative lawsuit against Target alleges that the Board breached its duty of care and "harmed the company financially by failing to take adequate steps to prevent the cyberattack and by subsequently providing customers with incomplete and misleading information about the extent of the data theft.” 

Why It’s Time for a Corporate Board Peer Assessment

Investors have high — though not unreasonable — expectations of corporate boards. On a basic level, they expect the boards of companies in which they invest to be transparent, efficient and competent. Going a step further, many investors demand their boards to be diverse not only in representation, but also in skill set and experience. These expectations, collectively, make board refreshment a "must" for effective boards

Three Ways to Position Your Board for Success

Boards of directors want to be all they can be; no one signs on to a board — corporate or nonprofit — just to be a name on a webpage. And yet, there is a disconcerting amount of research suggesting that many boards are largely ineffective. The causes underlying poor performance range from poorly defined roles to ill-prepared directors. While addressing the symptoms can improve board efficacy, foundational tactics that better integrate the board with the organization's mission and values offer a more holistic framework for improving performance.

Refreshing Your Board: How to Make Sure Your Corporate Board Reflects Your Values

Of the ten governance sections that CBE surveys, “Mission and Values” leads our slate. Mission and values act as rudder and keel, guiding the course and holding the ship to course whether in calm waters or battling stormy seas. The tone at the top matters, so if leadership, including the board of directors, does not internalize those key pillars of organizational culture and governance, other areas of performance and leadership suffer. 

Why It's Important to Set Long-Term Goals for your Corporate Board

A common sense deliverable, goal setting, is a necessary task that organizations conduct on a yearly basis, often with little enthusiasm and not much focus. Such a cavalier approach overlooks the value to publicly-traded corporate boards of investing time and attention to this foundational activity. Few exercises are more important to the viability of an organization than long-term goal setting.

12 Must-Read Articles on Corporate Governance

At CBE, we promote Level 5 governance from a performance and evaluative perspective. A Level 5 board is one that seeks continuous improvement. The goal of great governance is to ethically promote a winning business strategy. We earnestly believe that thoughtful collaboration, not self-promotion, leads to better global governance. 

Business entities and not-for-profit organizations have different points of focus and organizational structures, both benefit and depend on well-designed governance standards.

Here's your list of required reading from corporate governance thought leaders: