Boards of directors have a challenging job. They need to monitor senior management's performance and provide advice, counsel, and, where necessary, direction. And they need to do all of this while maintaining an effective and trusted relationship with the chief executive and acting in the company's and shareholders' best interests. It's a tall order. Some boards have done well maintaining the requisite balance, while others have not. Probably the majority have achieved mixed results in carrying out their responsibilities, hopefully learning from past miscues and improving board processes to become more effective over time.
I've worked with plenty of boards that ...