Une révision du volume de Richard Leblanc | Handbook of Board Governance
Voici un article de James McRitchie, publié dans Corporate governance, qui commente succinctement le dernier volume de Richard Leblanc.
Comme je l’ai déjà mentionné dans un autre billet, le livre de Richard Leblanc est certainement l’un des plus importants ouvrages (sinon le plus important) portant sur la gouvernance du conseil d’administration.
Je vous encourage à prendre connaissance de la revue de M. McRitchie, et à vous procurer cette bible.
Bonne lecture !
I continue my review of The Handbook of Board Governance: A Comprehensive Guide for Public, Private, and Not-for-Profit Board Member. With the current post, I provide comments on Part 2 of the book, What Makes for a Good Board? See prior introductory comments and those on Part 1. I suspect the book will soon be the most popular collection of articles of current interest in the field of corporate governance.
The Handbook of Board Governance: Director Independence, Competency, and Behavior
Dr. Richard Leblanc‘s chapter focuses on the above three elements that make an effective director. Regulations require independence but not industry expertise; both are important elements. Leblanc cites ways director independence is commonly compromised and how independence ‘of mind’ can be enhanced. He then applies most of the same principles to choosing external advisors. Throughout the chapter he employees useful exhibits that reinforce the text with bullet points, tables, etc. for quick reference.
Director competency matrices have become relatively commonplace, although not ubiquitous. Leblanc not only provides a sample and scale, he reminds readers that being a CEO is an experience, not a competency and experience is not synonymous with competency. A sample board diversity matrix is also presented with measurable objectives for age, gender, ethnicity and geography.
Director behavior is the last topic in Leblanc’s chapter. Of course, each board needs to define how its directors are to act, subject to self- and peer-assessment but Leblanc’s ten behaviors is a good starting place:
- Independent Judgment
- Organizational Loyalty
- Capacity to Challenge
- Willingness to Act
- Conceptual Thinking Skills
- Communication Skills
- Teamwork Skills
- Influence Skills
That’s just one list of many. Leblanc’s examples and commentary on each adds color and depth. Under the UK’s Corporate Governance Code, director reviews are required to be facilitated by an independent provider every two or three years. Great advice for boards elsewhere as well. As Leblanc reminds readers:
« Proxy access and other renewal reforms are the direct result of boards steadfastly resisting director recruitment on the basis of competencies, the removal of underperforming directors; and the lack of boardroom refreshment, diversification, and renewal ».