Posted On: 09/17/2014 12:29:26 AM
Post# of 30066
A little business 101 on accountability..
"The Ideal Board
An ideal board is one which works closely with the Chief Executive Officer (the "CEO"
of the company to give not only support and direction to him or her, but one which also challenges the CEO to make sure that s/he leads the company in accordance with the company's plans. Many boards are "puppet" boards and often play along with the CEO and management. These are useless. The board should be the pillar which holds the company up. The board is responsible for the success or failure of the company. Furthermore, it is the soul and conscience of the enterprise. If management is not doing its job that is because the board is not doing its job in the first instance. The mandate of the CEO, guided by an active board, is to drive the value of the company. A board serves the company - not specific shareholders or groups."
Hope that clears things up a little and why such an outstanding and seasoned board like AMBS has is so vital.
"The Ideal Board
An ideal board is one which works closely with the Chief Executive Officer (the "CEO"
of the company to give not only support and direction to him or her, but one which also challenges the CEO to make sure that s/he leads the company in accordance with the company's plans. Many boards are "puppet" boards and often play along with the CEO and management. These are useless. The board should be the pillar which holds the company up. The board is responsible for the success or failure of the company. Furthermore, it is the soul and conscience of the enterprise. If management is not doing its job that is because the board is not doing its job in the first instance. The mandate of the CEO, guided by an active board, is to drive the value of the company. A board serves the company - not specific shareholders or groups." Hope that clears things up a little and why such an outstanding and seasoned board like AMBS has is so vital.
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