Cover Story

Director term limits come up for review
A Directors & Boards roundtable
Our participants, gathered under the auspices of the Weinberg Center for Corporate Governance at the University of Delaware, tackle some thorny topics concerning board tenure: How long before directors get stale or too complacent? Are term limits a necessity or a hindrance to board performance? How useful (or useless) are director evaluations? What should be done about ‘duds’ on the board? … and other dynamics that determine a board’s effectiveness.

Features

Diversify the board … by personality type
By Peter G. Spanberger and Susan M. Jackson
A key to a high-functioning board is to intentionally bring together people with differing personality styles that make them well suited to play important behavioral roles.

Distinguishing traits of elite performers
By David Wanetick
Here is what separates the world’s best from their second-place contenders. How seemingly small differences can have a major impact on success, as seen in business and throughout history.

‘Above reproach’: The Norman Hsu case
By James B. Mintz, James H. Roe and John Mintz
This fiasco offers five important due-diligence lessons for directors and officers in staking your individual and corporate reputation on a person’s character, background, and basic veracity. Following the tracks to a dead end … and then, ‘Bingo!’

The protocol of a turnaround manager
By Deborah Hicks Midanek
This peek into a turnaround pro’s playbook reveals the initiatives directors themselves can take to preempt the call for help — e.g., this reality check: “In working with troubled companies, I have never yet seen one that has a good understanding of its cash.”

The next best place to invest? Child care
By Allan Miller
Get involved in providing high-quality early child care and education programs for your employees. The ROI is huge, and hugely important.

Book it: Best bets for board reading
From a roundup of new books, leadership insights on sudden succession, human capital oversight, being a trusted adviser, greatness in the making, and how to apologize for a tactless remark.
• The Game Changer by A.G. Lafley and Ram Charan
• Corporate Reputation by Leslie Gaines-Ross
• Valley Boy by Tom Perkins
• Talent by Edward E. Lawler III
• Eccentric Billionaire by Nancy Kriplen
• Why Should the Boss Listen to You? by James Lukaszewski

A director’s dilemma
By William G. Bowen
It is hard to know when simply raising questions, and eyebrows, has become insufficient … and boards must summon up the will to act.

Departments & Columns

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