What do boards do?
According to The Organization for Economic Co-operation and Development “the Board is chiefly responsible for monitoring managerial performance and achieving an adequate return for shareholders, while preventing conflicts of interest and balancing competing demands on the corporation.”
Corporate governance expert Sandra Glasgow adds that “a key role of the board is in approving policy recommendations put forth by management…additionally the board provides access to a network of contacts that may be useful in gathering resources and or business. At the core of the board’s services is providing advice and counsel to the senior management team, especially the CEO.”
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