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6 - From Board Structure to Boards as Effective Teams

Published online by Cambridge University Press:  16 November 2022

Jordi Canals
Affiliation:
IESE Business School, Barcelona
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Summary

In Chapter 6, I argue that the new generation of boards needs to go beyond monitoring senior managers to work harmoniously as a team capable of addressing the firm’s challenges. The process of turning individual board directors into a high-performance team is complex. This chapter explores how the collegial dimension of the board’s efforts can translate into effective teamwork and team development, concurrently strengthening the impact of the team as whole and contributions from individual members. Moreover, the very nature of boards of directors’ role – limited dedication, diverse backgrounds and sporadic meetings – requires boards to work collaboratively with the CEO and the top management team. The board of directors appoints the CEO and, depending on the firm’s statutes, confirms the key executive appointments the CEO wants to make. This decision should be founded on professionalism and trust. A constructive and highly professional relationship between the board of directors and the CEO is essential.

Type
Chapter
Information
Boards of Directors in Disruptive Times
Improving Corporate Governance Effectiveness
, pp. 221 - 253
Publisher: Cambridge University Press
Print publication year: 2022

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