One of the downfalls I see in boardrooms is what Daniel Goldman calls “unanimous illusion.” Goldman defines this as a behavior that, once a group adopts a belief, individual members are likely to believe it is true. All the more reason for directors to ask questions during board meetings on a broad range of topics of critical importance to their oversight role. This … [Read more...]
When is a Lead Director Really Independent?
In a recent conversation with a director who has held the lead director position in a number of public companies, the question arose---when is a lead director really independent? The director I was speaking with said a major problem on many boards is that a director is often reluctant to raise an issue, or make a strong comment, if he/she knows the chairman will not be … [Read more...]