My last two columns dealt with the tug of war between boards of directors and shareholders and how boards are best comprised to effectively carry out their responsibilities. Central to these issues is the relationship with the chief executive officer; specifically, how to provide the kind of oversight that enables the CEO to run the business and achieve growth and return objectives.

Here we’ll look directly at the CEO and his or her position amid the shifting governance landscape. There’s little doubt that the expectations and pressures that this executive experiences are unlike anything we’ve seen previously. In fact, the likelihood ...