Recently corporate governance is in the news again. CEO and director compensation remains a thorny issue. Top executives and board members are important members of a corporation. By all means they should be paid adequately but not extravagantly. And the board’s duty to appoint and fire top executives makes its effectiveness crucial to a company’s well-being. Therefore, shareholders should not take their right to elect company directors lightly.
Probably most shareholders do not personally know the individuals who run for corporate directors. Personality issue or showing disrespect is never the factor in the shareholders’ minds when voting for directors. Choosing an effective board has become a serious business decision.
If I am asked to choose a board member today, I think my ideal director will be an engaged one. This individual is not a CEO or COB of other public company. He or she does not spread his or her times too thin by sitting on too many corporate boards, particularly the ones outside his or her expertise. My ideal director should not have to travel a great distance to attend board meetings either. Lastly, this individual must have a genuine interest in the company. - Ayee
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