While I'm figuring this says something about who rides the Acela, I'm glancing at Acela's Arrive Magazine and lo and behold there's an article about corporate governance.
Equally interesting, I learned in the article about a nonprofit that is dedicated to the diversification of forprofit (corporate) boards called Boardroom Bound and yet another nonprofit focused on teaching, testing and certifying nonprofit board members (from what I can tell, for hospitals) called bestonboard.org. For sure, Boardroom Bound has a particularly ambitious mission with a tagline I am most fond of: "reinventing corporate america one board at a time."
Back to the article. I found some interesting observations about forprofit governance. I do take exception to the references of corporate vs. forprofit and nonprofit governance. There are certainly some important differences but nonprofit or forprofit, governance has some basic tenets. That said here's some conversation notes for all of us.
Board's are under intense scrutiny, and complex issues such as exec compensation, governance, risk management, compliance, sustainability...require long, rigorous hours every month. The number of board meetings also has increased, to an average OF NINE A YEAR (in 2009).
All in all, the board seat has become the hot seat and one takes it at some risk. Although there is D&O liability insurance in the case of a lawsuit, sitting on a board at the center of a controversy could inflict substantial damage to one's reputation.
And finally, regarding diversity, Boards can, however, seize the opportunity to diversify and appoint qualified women and minorities. ...research shows that companies with more women on their boards, on average, financially outperform those with fewer. And companies with three or more women on their boards do even better.
Lots of fodder for discussion throughout the sector. Your thoughts?