After emerging from the government bailout about five years ago, the board of the “new GM” was supposed to exercise their fiduciary responsibility more diligently than their predecessors. However, after recalling nearly 30 million cars and revelations that some GM managers had known about defective switches that resulted in 19 known deaths for over 10 years, the board’s current chairman, Theodore Solso said that he “only had a vague recollection of the details.”
He went on to say in a recent interview: “I can’t remember the specifics.” What planet does this guy live on? He even dug a deeper ditch by saying: “When we had all the facts we did our job.” Really?
After the resignation of a number of board members recently, the remaining board is realizing that the boards of both the “old” and “new” GM were negligent in applying their fiduciary responsibilities to the shareholders. This now has resulted in lawsuits from shareholders against former and current board members, as well as legal investigations by the Justice Department, the SEC and 45 state attorneys general.
Senator Richard Blumenthal of Connecticut has accused the board of abdicating too much responsibility to management for resolving the switch problem that resulted in the aforementioned deaths of drivers of GM cars with defective switches. He concluded that ”the board’s silence and apparent absence as a force is really regrettable.”
Board chairman Solso claims, “We didn’t understand the enormity of the situation at the beginning, because I don’t think management did—it was an evolving problem.” How many people had to be killed before it was recognized as a serious problem?
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1:00 - 5:00 pm
Over 70% of Executives Surveyed Agree: Many Strategic Planning Efforts Lack Systematic Approach Tips for Enhancing Your Strategic Planning Process
Executives expressed frustration with their current strategic planning process. Issues include:
Steve Rutan and Denise Harrison have put together an afternoon workshop that will provide the tools you need to address these concerns. They have worked with hundreds of executives to develop a systematic approach that will enable your team to make better decisions during strategic planning. Steve and Denise will walk you through exercises for prioritizing your lists and steps that will reset and reinvigorate your process. This will be a hands-on workshop that will enable you to think about your business as you use the tools that are being presented. If you are ready for a Strategic Planning tune-up, select this workshop in your registration form. The additional fee of $695 will be added to your total.
2:00 - 5:00 pm
Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations.
Limited space available.
10:30 - 5:00 pm
General’s Retreat at Hermitage Golf Course
Sponsored by UBS
General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.
The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.
