Six Essential Tasks to Restore Trust in Corporate Governance

Recently, Business Week published an adapted version of an executive summary of a policy brief released by the Committee for Economic Development. The brief was authored by Ben Heineman and offers six “essential tasks” that boards of directors and business leaders must undertake to restore faith in corporate governance.

The six tasks are:

1. A redefinition of the mission of the company—and the role of the board of directors and the CEO to create durable value for shareholders and other stakeholders through sustained economic performance, sound risk management and high integrity
2. A revamped internal leadership training process
3. A refocused CEO selection process
4. A restatement of fundamental but operational measurements for performance, risk, and integrity
5. A revision of compensation for the CEO and other senior executives
6. A re-alignment of the board’s fundamental oversight function

Click here to read the complete article and here to download the full brief in PDF form.

Tags: ben heineman, board of directors, Business Week, corporate governance