The former Prime Minister whispered in my ear before the board meeting of the bank, “Watch the way I chair this meeting, Richard.” Seeing a meeting chaired almost perfectly is a rarity so I paid attention and was not disappointed. …
Recent Posts
- The Corporate Governance Game Changer That Needs to Come To Canada
- A rebuttal to Terence Corcoran’s “OSFI and the bureaucratization of corporate governance”
- Richard Leblanc: Ten reasons that pay governance is broken
- Richard Leblanc: Ten Corporate Governance Trends for 2014
- Gender diversity on boards: My discussion notes
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Why Corporate Boards Lack Courage
Last night on the national news, embattled imaging-seller Kodak was compared to Research in Motion by a commentator comparing both companies’ inability to exploit advantages that they originally created. Regarding Kodak, one younger woman who was interviewed remarked, “What is …
Getting on Boards ~ Practical Pointers That Work
Do you think the average board can afford to pay a search firm $80,000 to recruit a director? Of course not. One major shift in 2011 was the impact of technology and diversification of boards on creating recruitment opportunities for …
Compensation Consultants Need to Professionalize
Charlie Munger, Vice-Chairman of Warren Buffett’s Berkshire Hathaway, once said “As for corporate consultants who advise [boards of directors] on salary, all I can say is that prostitution would be a step up for them.” Compensation consultants are widely regarded …
The Magna Situation and Overdue Corporate Governance Reform
This week, it was revealed that Messrs. Michael Harris, Louis Lataif and Donald Resnick, former members of a Special Committee whose role was to assess a related-party transaction involving control person Frank Stronach, all received overwhelming “withhold” votes compared to …
Canada scores an “F” in preparing for the diversity tsunami
The US, UK, Belgium, France, Germany, Italy, Spain, the Netherlands, Australia, New Zealand, Norway and Sweden either have or are mid-way through changing laws on the books to promote greater gender and ethnic diversity on boards of directors since the …
Executive Compensation is “Corrosive” and “Undermines Trust”: Connecting the Occupy Movements
I remember when US pay czar Ken Feinberg told a group of academics gathered at Wharton business school for a corporate governance conference to discuss the aftermath of the Global Financial Crisis that he was looking for independent compensation consultants …
Boards and Sexual Assault on Campus
“As the graduate assistant put the sneakers in the locker, he looked into the shower. He saw a naked boy, Victim 2, whose age he estimated to be ten years old, with his hands up against the wall, being subjected …
How to do a Proper External Governance Review
Several memories stand out in my mind. One was the dominant CEO who kept interrupting me to tell me how effective he and “his” board were, despite the results of my assessment (the board was in trouble with regulators and …
The Boardroom of the Future: Changes that will reshape corporate governance
A global “mega-cap” company recently asked me to submit a briefing on how a boardroom of the future will look. This is an abridged summary of my report. Democratization of governance Your shareholders will nominate and elect your directors by …