Tag Archive: CEO Talk Radio

Ken Daly Featured on CEO Talk Radio Discussing “Strategy Role of Boards”

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Ken Daly, NACD president and CEO, is featured on CEO Talk Radio discussing the role the board plays in helping to shape and refine a sustainable strategy. Directors play a key role by selecting the right CEO for the company’s future, and by working with the CEO and senior management to revise the strategy as the company’s situation evolves. Monitoring execution of the current strategy is another key role, according to Daly.

Click here to listen to Ken’s interview.

Selecting and monitoring the right company strategy is essential to sustained profitability. In the Report of the NACD Blue Ribbon Commission on the Role of the Board in Corporate Strategy, NACD offers best practices to help CEOs and boards become more engaged in advising, assessing and monitoring strategy together, placing special emphasis on cooperation and collaboration.

As Daly explains in the interview, there is a powerful relationship between exemplary board performance, sustained profitability and job growth. Directors serve as fiduciaries for shareowners, but not merely for the short term; boards serve owners best by focusing long-term on corporate performance and growth.

The board’s strategy role extends to the function of the board and the way board meetings are conducted. The most effective meetings focus on actionable items, with agendas set to allow for dialogue about key issues. Between meetings, directors can complement management information by conducting their own research. Board members also need to listen to shareowners to understand their concerns and, in turn, help them understand what the company is doing. (Note: In face to face meetings, directors need to ensure that they speak with one voice and comply with Regulation Fair Disclosure.)

NACD has a number of resources available, including white papers, blue ribbon commission reports and surveys, to help directors and boards navigate their roles and deliver value for their companies. NACD also hosts a number of conferences and forums around the country where board members can learn best practices from corporate governance experts and leading directors, as well as network with other directors and boards.

To listen to the full interview with Ken Daly and hear more about the board’s role in shaping corporate strategy, visit http://www.robertgbarnwell.com/039-ceo-talk-radio-your-first-board-seat/ or download the podcast on iTunes.

Ken Daly Featured on CEO Talk Radio Discussing “Your First Board Seat”

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Ken Daly, NACD president and CEO, is featured on CEO Talk Radio discussing how to obtain your first board seat. In the interview, Ken talks about the role that the nominating and governance committee plays in vetting director candidates to ensure that the board’s combination of directors offers skills that are important for the company to achieve its strategic goals.

Click here to listen to the interview.

When choosing a director, the nominating and governance committee creates a matrix that outlines current board composition, as well as skills they want to add to its board. Hot skill sets today include  information technology, communications, and global markets expertise, says Daly. More generally, in order to get on the radar of the nominating and governance committee, directors must be able to demonstrate an understanding of the company’s business, but also its governance—including the difference between oversight, which is the directors’ role, and management, which is the CEO’s and management team’s role.

With new Securities and Exchange Commission (SEC) regulations under Dodd-Frank, there is more scrutiny than ever before to ensure that directors are qualified and can truly serve as assets to the company.

One tool prospective directors can use to get on the radar of the nominating and governance committee is NACD Directors Registry, a robust database of qualified director candidates used by a growing number of nominating and governance committees. Another way to expand board horizons is to get actively involved in director education through events such as the NACD Fellowship Program, the NACD Board Leadership Conference or any of the conferences and forums that NACD conducts around the country. Not only do prospective directors get to learn best practices from corporate governance experts and leading directors, but they will find valuable networking opportunities as well.

To listen to Ken’s full interview and hear his tips for how new directors can demonstrate their value, visit http://www.robertgbarnwell.com/039-ceo-talk-radio-your-first-board-seat/ or download the podcast on iTunes.