Improving the Performance of the Board

Neville Bain and Bill Mabey

Chapter 12 in The People Advantage, 1999, pp 195-211 from Palgrave Macmillan

Abstract: Abstract It goes without saying that the board has a pivotal role in ensuring that long-term value is created and maintained for the benefit of all shareholders. The board is accountable to the shareholders who have appointed the directors to act in their collective best interests. It has an amalgam of functions which can be summarized as follows: It is the representative of shareholders and it must ensure that the company has clear goals and measures the progress against those goals. The board needs to agree the strategy and the resources needed to achieve it. The chief executive is appointed by the board which will monitor his or her performance, along with the rest of the executive directors. Reflecting the absolute importance of the human resources needed to deliver the strategy, the board must annually review succession management development plans.

Keywords: Executive Director; Board Member; Independent Director; Chief Executive; Succession Plan (search for similar items in EconPapers)
Date: 1999
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-14939-1_12

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DOI: 10.1007/978-1-349-14939-1_12

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