RT Journal Article
SR Electronic
T1 Is Your Board a Strategic Asset and Source of Competitive Advantage?
JF Special Issues
FD Institutional Investor Journals
SP 50
OP 53
VO 2003
IS 2
A1 Robert E. Hallagan
YR 2003
UL https://pm-research.com/content/2003/2/50.abstract
AB The first criterion for a high-performing corporate board is having the right people at the right time whose portfolios of skills are continuously aligned with the company's challenges and who continually earn the right to serve each year with no sense of entitlement. As a result of recent corporate scandals, resulting new legislation and regulations, and increased shareholder activism, high-performing directors are resigning from boards and high-performing executives are limiting their board memberships. To overcome these unfavorable trends, boards must follow a rigorous process that includes establishing a governance committee, creating a board succession framework, matching required skills to current board members, creating an ideal board candidate profile, and establishing a candidate search-and-identification process.