Triple Crown Leadership

Triple Crown Leadership

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Special Leadership Responsibilities of Boards

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  Boards have special leadership responsibilities to ensure their organizations are trustworthy. If their firms are not trustworthy, they will suffer at the hands of regulators, customers, employees, and shareholders. But surely boards are consumed with the important duties of corporate governance, strategy, risk management, compliance, executive compensation, and succession. Can we realistically expect boards to take on something as ethereal as trust? Yes, we must. Boards cannot discharge their fiduciary duties without attention to the trustworthiness of their organization. Decades ago, the vast majority of an organization’s assets were tangible, such as cash, equipment, and buildings. Today, intangible assets, including brand and reputation, often predominate. Boards have a fiduciary obligation to protect these intangibles, which can be tarnished with the pressing of a cell phone’s video camera, or a posting   …Continue Reading