Posts Tagged ‘Michael Pocalyko’

Most Popular NACD Blog Posts of 2012

December 28th, 2012 | By

Here are some of 2012’s most popular NACD Blog posts as measured by unique page views.

  1. Self-Reflection: Three Questions Boards Must Answer. Three essential questions drive the assessment process.
  2. PCAOB Weighs Pros and Cons of Mandatory Audit Firm Rotation. Alex Mandl, chairman of Dell’s audit committee, spoke on behalf of NACD at the PCAOB’s public meeting last March to share the director perspective.
  3. Five Boardroom Deficiencies: Early Warning Signals. At NACD’s Director Professionalism course in Charlotte, N.C., faculty member Michael Pocalyko listed the five boardroom deficiencies he has observed in almost every recent corporate failure.
  4. Undertaking an Honest Self-Assessment: Is Your Board Aligned? How boards conduct the assessments starting with the questions in post #1.
  5. Five Takeaways From Conference. The five takeaways from the 2012 Annual Board Leadership Conference, according to NACD’s Research team.
  6. Alphabet Soup: A Director’s Guide to Financial Literacy and the ABCs of Accounting and Auditing. Alexandra Lajoux’s guide to the seven roadblocks that impede understanding of accounting and auditing standards.
  7. An Update From the SEC. A mid-year update on SEC rules largely affecting the compensation committee.
  8. Five Guiding Points for Directors in the Digital Age of Corporate Governance. Former BD Chairman and CEO Ed Ludwig’s fundamentals for achieving sustainable long-term shareholder value creation.
  9. NACD Spearheads Alternative Solution to Mandatory Audit Firm Rotation. The collaborative effort to develop an alternative solution to PCAOB’s proposed rule mandating audit firm rotation.
  10. PCAOB’s Proposed Mandatory Audit Firm Rotation Misses the Point. NACD President and CEO Ken Daly on why mandating audit firm rotation will not necessarily improve auditor independence and objectivity.

NACD Directorship 100: Why Leading Corporate Directors Attend

October 31st, 2012 | By

Corporate directors today face a growing list of oversight responsibilities—from meeting regulatory requirements to providing strategic insights, leadership, and direction to executive teams.

At the upcoming NACD Directorship 100 Forum, corporate directors have a unique opportunity to not only engage with peers, but also to gain fresh perspectives from experts in the boardroom. Held on Tuesday, Nov. 27, 2012, in New York City, this event packs a punch—providing numerous leading sessions in just one day.

Tenet HealthCare Chairman and retired Global Chairman and CEO of Deloitte, Ed Kangas, said the NACD Directorship 100 Forum is “the best value in boardroom education.” For directors looking to stay ahead of the curve, Kangas recommends making “it a priority to attend. The selection of speakers and topics are top shelf.”

This event couples exclusive director education and networking sessions with recognition of leading corporate directors during a gala dinner.

Forum speakers include: Ann Fudge, director, General Electric; Ellen Kullman, chairman and CEO, E.I. du Pont de Nemours and Company; James Robinson III, director, Coca-Cola; Robert Denham, lead director, Chevron; and David Walker, former U.S. Comptroller General, Governance Accountability Office. Click here to view the full agenda and speakers

Michael Pocalyko, chairman, TherimuneX Pharmaceuticals and managing director and CEO, Monticello Capital LLC, views the NACD Directorship 100 Forum as a “must-attend event for boardroom leaders who are committed to the directorship profession.” According to Pocalyko, the forum has something for directors of all levels of experience: “From the highly interactive knowledge exchange roundtables, to the timely and relevant panel discussions, even the most experienced directors will walk away with fresh approaches to boardroom leadership.”

Closely following an important presidential election, the forum topic of “Reinvigorating America” is as timely and important as ever. Although seating at this year’s NACD Directorship 100 Forum is limited, there’s still time for you to join us and the “who’s who” of the governance community on Nov. 27, 2012, in New York City.

Register here for an unparalleled opportunity to learn, network, and discuss key issues confronting your board.

Five Boardroom Deficiencies: Early Warning Signals

May 23rd, 2012 | By

At the most recent NACD Director Professionalism® Course in Charlotte, North Carolina, faculty member Michael Pocalyko, an experienced director and chairman of TherimuneX Pharmaceuticals, described five boardroom deficiencies that he has observed in almost every recent major corporate scandal or failure.

In his presentation on “Board/C-Suite Relations,” Pocalyko proposed that these elements pervade the board culture at troubled companies—and when identified, directors can use these red flags as a warning system for difficulties ahead:

  • A disconnect between the company’s stated core values and the way its executives, managers, and personnel behave.  “When core values devolve into nice words while the way the company actually operates is antithetical to its codified ethics, serious problems are looming.  Those problems involve not just lawsuits but orange jump suits.”
  • A deferential board of directors.  “Every troubled company, public or private, including the one that will star in the next corporate scandal, has a board that is far too deferential to its CEO.  This happens more often where the chairman and CEO roles are unified.  Courteous challenge and vocal independence should not be perceived as affronts to power.  They are essential to accountability.”
  • Inventive corporate finance.  “When the non-financial board members especially have trouble figuring out exactly what the financial statements are saying, without significant interpretation, someone is being way too creative.  Exotic finance often masks mischief, market gaming, or worse.”
  • Co-opted information technology systems.  “They are tremendously expensive cost centers but absolutely essential to effective internal audit, SEC audit, and reporting.  If the board has only an ephemeral understanding of these complex systems and their role in the audit process, IT can be co-opted fairly easily to the impediment of proper board oversight.”
  • Legal “fitting.”  “Like a tailor fitting a suit, when legal counsel fits an opinion to comport with a desired action—rather than delivering an outright ‘don’t do this’ or even ‘it’s a terrible idea’—right then, the board is being brought complicit into future failure.”

NACD Director Professionalism is the foundation course for aspiring or new corporate directors, providing boardroom insight and skills in a highly interactive, two-day format covering the fundamentals of boardroom effectiveness.  For more information about NACD Director Professionalism, please go to www.NACDonline.org/DP.  During the remainder of 2012, the program will be offered at the following locations and dates: