ROLE OF BOARDS
At any company, the primary role of the board of directors is to provide oversight and strategic support for executive teams as they pursue their mission to create long-term shareholder value. The most important job within that charter is to select a CEO and oversee a sound succession management process for senior leadership roles in the company. Boards also have a responsibility to help management identify emerging risks and deal with unforeseen crises like data breaches, accounting scandals, or social media blunders.
One area where boards have an opportunity to make a greater impact on improving shareholder return is in their governance of smart talent strategies. In their book Boards That Lead: When to Take Charge, ...