Saving the Corporate Board

CORPORATE GOVERNANCE DISASTERS... ...have struck again and again, from Enron, to WorldCom, to Tyco, to Global Crossing. How do we fight back? First, we accept that the board of directors is a fundamentally flawed tool for fiduciary oversight of the modern corporation. Then, we dig into the real reasons for governance failures, which are complex and misunderstood. Finally, we provide the tools needed to build on the board's genuine strengths, which make it well worth preserving, restoring, and rejuvenating. In Saving the Corporate Board: Why Boards Fail and How to Fix Them, seasoned board observer Ralph Ward diagnoses ten chronic board failures and offers proven solutions on how to fix them. Ward examines the auditing, financial disclosure, and executive pay failures that have garnered the most media attention, but digs deeper to analyze basic issues of communication, organization, and execution, revealing why so many boards fail to live up to their promise as corporate stewards. This no-holds-barred indictment and road map to resolution is a must-read for all executives interested in restoring and maintaining solid corporate governance. As always, Ralph Ward has offered an astute and engaging appraisal of the classic corporate governance conundrum of the problematic board. His solutions are well worth considering for all board members. -Charles M. Elson, Edgar S. Woolard Jr. Chair in Corporate Governance, University of Delaware