Board Doctors help supervise the supervisors. (2015)
“More companies are bringing in experts to scrutinize effectiveness of directors… Many U.S. corporate boards need help making hard decisions.
Joann S. Lublin. Wall Street Journal
17 February 2015
Illustration: James Yang
“Amid unprecedented pressure from investors, more boards are tapping outside experts so they can monitor management better and clean their own house. The legion of advisers—which some dub “board doctors”—scrutinize boards’ inner workings and prescribe cures for such ills as an entrenched chief executive, 800-page briefing books, or even a director who plays Sudoku during management presentations. The experts often enable board members to make tough choices they are too squeamish to do on their own.
“…boards frequently find it hard to clear out dead wood without outside assistance. About 36% of directors polled in 2014 by PricewaterhouseCoopers LLP said someone on their board should be replaced, up from 31% in 2012. The biggest impediment? Board leaders’ discomfort over broaching the issue.
“Directors say that is partly why they pay for a thorough external evaluation every few years.”
Access the article here: ‘Board Doctors’ help supervise the supervisors