Great Governance: Smart Practices That All Boards Should Race To Adopt

“There is one thing all boards have in common, regardless of their legal position,” Peter Drucker wrote more than 40 years ago. “They do not function. The decline of the board is a universal phenomenon of this century.” To be sure, lousy board, or at least mediocre ones, still outnumber truly high-performing boards. In the corporate world, critics remain concerned that too many directors have mistakenly tied executive compensation to short-term financial performance, potentially undermining the long-term health of the business.