9.
Turning Risk into Opportunity
The need for directors to lead risk management has become more vital in a threatening era that requires an unrelenting focus on downside risks and upside opportunities. As a result, boards are increasingly working directly with top executives to institute enterprise risk management (ERM) systems. Yes, leading a company’s leaders—assuring the right CEO is in place, with the right strategic fit—remains a director’s primary duty, but in an era of heightened risks of all sorts, assuring the company is prepared for the unexpected runs a close second. If the ship sinks in a storm under an excellent captain’s watch, shareholder value is destroyed as surely as if it sank with an incompetent skipper at the helm.
The dramatic ...
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