The saga of Valeant Pharmaceuticals provides high theater for observers, something zesty to chew on for opportunistic investors, a potential upside for new CEO Joseph Papa—and the continuation of a self-created headache for Valeant board members.
Forming an advisory board can be a great way for a privately held small or mid-sized company—or even a public company—to tap into trends the CEO doesn’t know about, to rely on proven expertise to extend the enterprise in new ways, and even to line up potential future investors, directors or employees.
The cost of a breach is staggering on several levels. And if you thought the fines were bad, think about the damage control you’ll need to save your business, protect your brand and put customers at ease.
Directors who sit on boards may think their companies can respond well in a crisis, but that doesn’t mean their companies are truly prepared for one.
Regulators are increasingly focusing on culture as a critical driver for corporate compliance, and board members should take note of this trend.
The number of hours and days that directors dedicate to board work is increasing, according to a recent McKinsey survey. Since 2011, the gap between the number of days directors spent on board work averaged 28 per year, while they wished they would spend about 38 to fulfill their responsibilities. Today, survey results show, directors are spending about 33, sho they are edging close to their ideal amount of days.
In a modern economy dominated by all things digital, it’s imperative that the people in charge of the data that comes from the customer value chain and the people who are selling the goods and services to those customers are in full alignment. But according to a new study, in most companies, connections between these two C-suite executives is weak at best.
Successful CEO-board relationships demand trust, communication and alignment.
If you think the current commotion over worker misclassification isn’t your problem as a CEO, think again.
Like United Continental, which needed to replace Oscar Munoz after his heart attack, and Mattel, whose former CEO Bryan Stockton resigned without warning in January, companies can find themselves needing an interim CEO at any moment.