Being on the board of directors of a major corporation ain’t what it used to be.
For one, controversy over accounting practices and CEO pay has made it less attractive. Plus, the existence of Sarbanes-Oxley means more work on compliance rather than strategy.
No wonder then that more qualified candidates are turning down recruiter offers for board seats than just five years ago.
What’s more, fewer active CEOs are joining boards, partly because their own companies restrict it, which means more first-time directors.
No surprise then, that there is now a training program for directors, the Stanford Directors' Forum -- and, perhaps, equally unsurprising -- it is a joint offering of the Stanford Graduate School of Business and Stanford Law School.
Get the whole story in Mary Thompson’s two-part special report and follow her coverage of the CEO pay debate at the House Financial Services Committee hearing Thursday, March 8.