Sample
Client Issue:
Updating
Governance Processes
A new CEO was the third within two years at a troubled company. The Board that hired him had become dysfunctional as a result of conflicts that had surrounded the removal of the two prior CEOs. The Directors were now divided regarding how to simultaneously provide support to the new CEO while scrutinizing his leadership effectiveness and watching for early signs of trouble. The new CEO was aware that he needed to define clear expectations for Board performance, create clear governance protocols to keep these obligations in proper balance, and rebuild teamwork and mutual respect among the Directors.
The Board of Directors for a large insurance and financial
services company wanted a review of its governance approaches,
convinced that it was time to update them to be more consistent
with "best practice" in industry in general. Interviews
identified areas for improvement, and a facilitated meeting led
to agreements for significant board restructuring regarding size,
committee configuration, term limits, Board and peer evaluation,
and other critical governance parameters. The first round of Board
and peer evaluations were successfully combined with the convening
of a new Governance Committee and coaching to individual Directors.
Related Client
Issue:
Assessing
CEO and Board Effectiveness
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