Corporate governance trends and challenges for board members
Corporate governance has grown up. Over the last decade, the debate about governance has evolved from a specialised concern of activist investors and business school professors into a legitimate concern of boards and board effectiveness.
The financial crisis has, in many countries, pushed governance questions onto the front pages of newspapers and regulators have asked more difficult questions about how boards of directors provide oversight over business models, risk-taking, strategy and long-term business sustainability. Along with the increased visibility of corporate governance, we have witnessed a similar expansion in the range of issues taken up by boards.
We are no longer talking about whether or not boards should include an audit committee or independent directors: in the current climate we are grappling with the issue of what makes a board effective, which raises a much more meaningful set of questions.
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