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Rebuke aims at boards of directors

The leader of the country’s top corporate directors organization said Thursday he still sees entrenched, disengaged, biased, leaderless and unaccountable boards at many companies.

And Roger Raber, president and chief executive officer of the National Association of Corporate Directors, put the blame squarely on board members themselves.

"The most important thing we do as a board is not to select the right CEO, but it’s to nominate the right directors. And we’re not doing a very good job on that," Raber said at the fourth annual Directors and Officers Governance and Compliance Retreat, sponsored by Technology to Market and the University of Utah’s David Eccles School of Business.

"To restore the trust of the investors, to restore the trust of the insurers, and more importantly to restore the trust of the public, we’re going to have to do something different that basically changes how boards make decisions or recommendations to shareholders on directors."

By Brice Wallace
Deseret Morning News

Full Story: http://deseretnews.com/dn/view/0,1249,595111312,00.html

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