Let's Talk About Boards

When it comes to boards and board membership, one of the trickiest items can be public pronouncements by Board members.

For example, right now: Statements or commentary about the Middle East crisis.

The challenge is that independent board members do not work for the company on whose board they sit. They may have other business or nonprofit roles or affiliations with other agendas. Or, they may just like to express their own personal opinions in public.

This is fine much of the time when a board member expresses an opinion about, say, their undergraduate college or a consumer app they are using.

But board member opinions can quickly rise to a corporate crisis when they opine in public about the rights and wrongs of the Israel- Hamas conflict. This is because while the board member may believe that they are speaking for themselves, or perhaps for a nonprofit refugee organization on whose Board they also sit, external audiences and employees may believe they are speaking for the company.

Companies may have in place agreements with their board members on these matters. But it's rarely wise to attempt to control an independent board member's behavior or speech.

What can work better is to ask for help. When volatile issues like today's Middle East crisis emerge, it is a good practice for the corporate secretary to ask board members in advance to tell them if they plan to be making any statements to avoid surprises. In this way, the company has a better chance of defusing potential disasters. It's also smart to remind board members that what may seem to be a personal point of view can become a company one.

Ken Banta

CEO

The Vanguard Network

LEADERSHIP?RESOURCES

How to Find – and Join – the Right Board for You

The article on The Vanguard Network offers insights into finding and joining the right board of directors. It discusses the importance of aligning personal values, skills, and expertise with the board's mission and objectives. The article emphasizes the significance of conducting thorough research, networking, and assessing the board's composition to make informed and impactful board membership decisions. Read more .

How to Achieve Enduring Board Effectiveness

The article from EY provides insights on achieving enduring board effectiveness. It discusses the importance of diverse perspectives, ongoing learning, and adapting governance practices to foster long-term board success. The piece emphasizes that boards should continuously evolve, maintain a diverse skill set, and remain agile to effectively address challenges and drive sustainable organizational growth. Read more .

The 6 C's for Cultivating a More Engaged and Effective Board of Directors

The Forbes article outlines the "6 Cs" for cultivating a more engaged and effective board of directors. It emphasizes the significance of commitment, composition, communication, collaboration, culture, and continuous improvement within the board. By focusing on these key elements, boards can enhance engagement, productivity, and effectiveness in their governance roles. Read more .

UPCOMING?EVENTS

The Dialogue and Action on Sustainability continues to welcome registrations. This dialogue is a new, significant response to the sustainability challenges. This initiative fills a critical need, bringing together top leaders across sectors to compare experiences, discuss potential approaches to key challenges, and identify action steps. The Dialogue builds on the expertise of the nonprofit INNOVO Profitable Net Zero, and The Vanguard Network's extensive expertise in convening senior executives in peer-driven, action-oriented conversations. We look to expand on the discussions of a few to a larger, more actionable, discourse among peer leaders, focused on achieving sustainability goals–profitably.

The Life Sciences CEO Exchange will be held virtually on March 12, 2024 4:00pm EST. The “CEO Exchange” results from feedback from participants in a recent Life Sciences CEO Forum. They proposed a regular cadence of shorter format, intimate, peer-to-peer conversations about things that really matter to Life Sciences CEOs. The “CEO Exchange” will pick up on the Forum discussions catalyzed by sessions leaders Fred Hassan, Tal Zaks, and Corinne LeGoff. Those who were there will recall dynamic dives into topics ranging from capital markets challenges to succession planning and self-awareness.

The GC Forum will be held in NYC on May 6, 2024 at 12:00pm EST. As always, the Forum will be an intimate dialogue among peers - no powerpoints, no podium, no presentations. In a confidential, interactive setting, participants will be discussing the topics that really matter - and the steps they should be taking to address them. Each session will include a small group simulation, case study or workshop, that will bring GC capabilities to bear on real-world scenarios.

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