CategoryFrom the Boardroom

Wells Fargo’s Walk of Shame

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Wells Fargo & Company is facing significant additional penalties for its poor oversight related to 2016 revelations of charging millions of customers for bank accounts they did not want and for auto insurance they did not need.. “Across a range of responsibilities, we simply expect much more of boards of directors than ever before,” said Jerome H. Powell, Ms. Yellen’s successor as Chairman of...

Will You Need to Replace My CEO?

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Twice in my career as a turnaround executive a non-executive chairman of a NYSE traded company has called me to ask for help. Their companies were floundering, and each asked the same question: will you need to replace my CEO? While I was very impressed that these men each took the initiative to address the issues their companies were facing, it intrigued me that they perceived handling the CEO...

Top 7 Myths About Corporate Boards

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Since the first limited liability corporation – the Dutch East India Company – was formed in 1602, supervision by a board of directors has been required. And for four centuries, the role of the board has been poorly understood, repeatedly castigated as ineffective. Why is it important now to recognize and rectify governance myths? The stakes are huge, as 500 companies are responsible for 70% of...