Boards That Lead Quotes

“In a preemptive strike, the lead director asked each director privately to identify one step or action that the chief executive ought to take in the next twelve months to best set the company up for recovery and then success. After compiling the directors’ proposals on a single sheet of paper and appending his own suggestions, the lead director circulated the draft among all the directors for comment or change. Once the document was finalized, the lead director then met the chief executive in a neutral city to present the directors’ specific ideas for action. The director explained to the CEO that the board’s idea list was intended to help him succeed, not to pester him with gratuitous criticism or demand tactical changes. The lead director added that his personal intervention came with the blessing of every member of the board, and he asked the CEO to report his progress in meeting the directors’ recommendations to all board meetings during the coming year.”
― Ram, Boards That Lead: When to Take Charge, When to Partner, and When to Stay Out of the Way

“a handful of decisions that only the board can make: the decisions to select, retain, or dismiss the chief executive; to establish a climate of ethics and integrity; to set the goals and incentives for the executive team; and to pinpoint the company’s central idea, risk appetite, and capital structure.”
― Ram Charan, Boards That Lead: When to Take Charge, When to Partner, and When to Stay Out of the Way

“Imagine an inverted U-curve: as data initially becomes more available, decision accuracy improves; but beyond an inflection point of increasing information, the amount of data diminishes management’s capacity to process the information and thus its ability to reach optimal decisions.20”
― Ram Charan, Boards That Lead: When to Take Charge, When to Partner, and When to Stay Out of the Way

“When we asked Woolard about the most important lessons from his Apple experience, he reported that a board leader has to have regular access to the chief financial officer, deeply understand the company strategy and execution—and pick and partner with the right CEO.”
― Ram Charan, Boards That Lead: When to Take Charge, When to Partner, and When to Stay Out of the Way