Author Archives for Steven R. Walker

Information Flow Beyond the CEO

Published by

As a delegate to NACD’s Advisory Council on Risk Oversight recently said: “Directors don’t know what they don’t know.” This Fortune 500 director was referencing one of the challenges facing corporate boards today: asymmetric information risk. Asymmetric information risk refers to the risk inherent in the imbalance in the information flow between management and the board. Directors serve in a part-time capacity while the management team operates full time. Naturally, senior-level executives have a much deeper knowledge about the organization’s operational processes and risks than the board. As such, directors rely on senior management for the information necessary to carry... Read More


Know Your Audience: Understanding the Board’s Expectations

Published by

Know your audience–it’s often the first lesson in Public Speaking 101, but it’s also an important mantra for senior executives looking to improve the quality of their interaction with the board of directors. An issue my team often identifies when working with boards is a disconnect between the information the board needs and what the management team actually presents. We’ve seen this gap occur at companies of all sizes, industries, and levels of sophistication. How management provides information to the board makes or breaks directors’ oversight role. Providing directors with the information they need to execute their duties is essential... Read More


Honest Assessments Can Reveal, Repair Gaps in Engagement

Published by

Regardless of company size or the level of experience on the board, an issue frequently encountered is the disconnect between senior management and the board. From the perspective of senior management, directors can become “comfortably numb” and not sufficiently engaged. This is not to say management does not respect board members’ expertise and knowledge. Instead, the executive team can grow disappointed if the board is not operating at its full potential. After long periods of service with little inspiration and challenge from senior management and/or board leadership, directors can reach a point in which they are not as engaged as... Read More