Eight

The Argument for a Lead Director

RAYMOND GILMARTIN

As a retired chairman and CEO, I was very wary of the idea of a lead or presiding director. It was difficult for me to understand why a chairman and CEO, like I had been, could not lead the board. I began to understand, however, that as independent directors became more active and influential in major companies, it was important for them to have a leader who was not also the CEO. On the boards on which I was serving, the directors were not in favor of separating the roles of chairman and CEO. Instead, they opted for a lead or presiding director (I soon came to realize that the two titles were interchangeable). Then, when I found myself selected to this position on the boards of two major ...

Get The Future of Boards now with O’Reilly online learning.

O’Reilly members experience live online training, plus books, videos, and digital content from 200+ publishers.