Gunster attorney Bob Lamm, co-chair of the firm's securities law and corporate governance practice, recently penned an article for the Daily Business Review discussing board self-assessments.
In the article, Lamm points out that corporate scandals – such as the recent spate of sexual harassment claims made across a wide variety of industries – leaves some wondering whether a company's board of directors is performing as it should.
The preferred method of assessing that, Lamm says, is a facilitated board assessment, comprised of a customized survey and personal interviews to look for areas of improvement for the board, its committees, and individual directors.
The need for board self-assessments is important for public or private entities, as well as nonprofits, Lamm adds. NYSE-listed companies are required to conduct a self-assessment annually.
For more corporate governance articles either written by Lamm, or in which he is quoted, read:
- Investors follow 'all-star' directors to new companies: study (Agenda, 5/12/17)*
- Activist nominees spark new bylaws (Agenda, 9/26/16)*
- Board diversity: Are we walking or just talking? (The Conference Board, 9/9/16)
- The user-friendly proxy statement (The Corporate Counselor, August 2016)
- Effectiveness lessons from startup boards (Agenda, 8/1/16)*
- How to rein in a CEO scandal (Agenda, 7/26/16)*
- Compensation minefields (South Florida Business & Wealth, 6/30/16)
- SEC granting less no-action relief (Agenda, 6/20/16)*
- Moves by shareholder groups revive discussions about voting (Agenda, 4/18/16)*
- Legislation asks activist shareholders for greater transparency (Agenda, 4/11/16)*
- Top concerns for corporate secretaries in 2016 (Agenda, 1/25/16)*
- Goldilocks minutes (South Florida Business & Wealth, 1/22/16)
- Latest D&O surveys probe family members (Agenda, 1/11/16)*
- Board composition: Greater than the sum of its parts (Deloitte Perspectives, January 2016)
- The challenges in 'refreshing' board committees (Directors & Boards, 3Q 2014)
*note: subscription may be required
Watch this video of Bob Lamm discussing shareholder empowerment and how it could change your company:
