BoardMatters Quarterly, January 2013

The board and the C-suite

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As part of its oversight role, a company’s board of directors typically selects the chief executive officer (CEO), sets the compensation of upper management and evaluates the performance of the company’s leaders. While the responsibilities and the roles of directors and management must be clearly understood and respected, there also must be a genuine and reciprocal relationship between the two groups.

We explore the dynamics of the board and C-suite relationship.

In this issue, we explore the dynamics of the board and C-suite relationship, including how roles have evolved, what leading practices are employed to improve communication and how directors and management can work together in a meaningful way to represent the interests of the shareholders.

In this issue:

Beyond legal: the role of today’s general counsel at the company and with the board
Deborah Platt Majoras, Chief Legal Officer and Secretary for The Procter & Gamble Company, shares her thoughts on the general counsel’s role and interactions with the board and audit committee.

Trust and transparency: how boards can provide CEOs with a competitive edge
Tapping the knowledge, skills and contacts of directors can lead to big results. Having the right people on the board and engaging in open and honest communication are crucial.

CFOs in high demand: addressing the board’s increasing need for financial skills
We explore what makes chief financial officers (CFOs) so attractive to boards, especially audit committees, and how the demand for CFOs to fill board seats is playing out for those who are qualified.

Financial reporting and regulatory update: preparing for year-end reporting
As companies head into year-end financial reporting, audit committees need to continue to pay careful attention to the latest developments in accounting and reporting matters.