![how long are the boards and beyond videos how long are the boards and beyond videos](https://assets1.ignimgs.com/thumbs/userUploaded/2021/3/17/ps2rpgsblogroll-1616004943410.jpg)
The panelists said pay is a hot topic because it is directly linked to corporate values, at least in the eyes of customers and employees. The chief executive is now expected to serve as a political statesman of sorts, Stafford said, and boards are quick to intervene if the CEO speaks out of turn with the company’s views.Ĭonsumer attention to ESG has also shone a spotlight on executive compensation. These stakeholders want companies to be transparent and authentic about environmental, social, and corporate governance goals (ESG). These changes not only help companies navigate rough waters, they also help companies meet the demands of customers and employees. Where they have expertise, they just kind of dive in much more directly with management and actually help management with all the issues at hand.” Stafford agreed and said, “We found a lot of board members just lean in. McDonnell likened the transformation among board members to a change from “policemen” to “umpires.” This shift is equipping boards to better understand and guide firms through more turbulent social and political environments.”įirms are moving away from a model in which board members have an almost adversarial relationship with managers, toward one of greater collaboration. “Firms are by adjusting the profile of directors that they’re onboarding.
![how long are the boards and beyond videos how long are the boards and beyond videos](http://assets1.ignimgs.com/thumbs/2017/05/05/3-9eddb6b64b84a0f7c827fc6aa23bce59-1494006540/frame_0000.jpg)
“Many boards are not equipped to offer strategic guidance on these kinds of nonmarket crises that arguably carry the most enterprise risk for firms today,” McDonnell explained. They want board members with specific expertise in areas such as impact investing, human resources, auditing and accounting, crisis management, and AI. Environmental damage, social and racial injustice, gender inequality, the COVID-19 pandemic, technological disruption, and other pressures are pushing companies to take a broader look at their purpose and mission. The panelists said that even a cursory look at the make-up of modern boards reveals how significantly they have changed. Wharton Dean Erika James led the discussion, which also included Wharton management professor Mary-Hunter “Mae” McDonnell and Brian Stafford, a Wharton graduate who is chief executive officer of Diligent Corporation, the largest governance, risk, compliance, and ESG SaaS company. An expansion of the Wharton School’s Tarnopol Dean’s Lecture Series, Beyond Business is streamed live on Wharton’s LinkedIn page. Taylor spoke during a November 16 panel discussion titled “Redefining Corporate Governance.” The virtual event was part of the ongoing Beyond Business series, which explores the most complex and pressing issues affecting organizations and individuals around the world. There’s a difference there because shareholders may care about more than just profits.”
![how long are the boards and beyond videos how long are the boards and beyond videos](https://biznulled.com/wp-content/uploads/2018/08/Beyond-Videos-Completed.jpg)
Instead, they should be maximizing shareholder welfare. “My view is that companies should not be maximizing shareholder value. “It’s amazing how much governance has changed,” said Wharton finance professor Luke Taylor.