The economic crisis of 2008 was a historical event that changed the conversations and inner workings of boardrooms across the country. While it was a terrible time for the nation, boards of directors learned many lessons from that time regarding…
You might not have an effective board if…your board approves every item on the agenda at every meeting with little or no discussion. Board work gets off to a good start when everyone around the board table agrees that their…
In recent decades, retirees, dignitaries and the good ol’ boys were staples of the composition of the board of directors. That trend is quickly becoming a thing of the past. There’s an old saying that states, “Where more responsibility is…
A board chair wears many hats, but two words that encapsulate the board chair roles and responsibilities are facilitate and leadership. Nearly every word spoken and every action taken by the board chair falls under these two fundamental roles. For…
Directors and officers insurance (D&O) has an interesting history. In the late 19th century, Lloyd’s of London, a conglomerate of insurance syndicates, developed the current model of D&O liability. But for many years, D&O maintained its popularity primarily within the United States. Around the 1980s, however, the benefits of D&O insurance spread across the ocean…
Global regulations are increasing, and it’s forcing boards of directors to take an active role in all matters of the company’s business, especially in the areas of compliance with the law and industry regulations. Large swings in the economic climate…
When a powerful entity like Lloyd’s of London moves cyber risk from #12 on its board agenda to #3 just two years later, as they did in 2013, it should serve as a wake-up call for other boards of directors…
Who is responsible for the quality of board reports—management or the board? If you said both, you’d be correct. Boards function best when they receive reports that have enough information for them to develop business strategies for short and long-term…
The federal and state governments reward nonprofit organizations for the good work they do by not requiring them to pay taxes. The trade-off is that all of their funds must be allocated for the purpose stated in their charter. Nonprofit…
Are you muddling through your board meetings only partially following the agenda? Are you having more discussions about how parliamentary procedure works than about pertinent matters? Does each of your board members know that they have fiscal and legal duties…
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