Gretchen Morgenson, a NY Times columnist, reports that shareholders are speaking out more than ever as they seek to hold directors accountable. It’s a welcome trend, as we know that too many directors are really just cronies of the owners and don’t provide the unbiased, independent feedback that’s expected of them.
As you build your own Boards of Directors or Advisors in the middle market, make sure that your candidates will have time to pay attention and that you can depend upon them for direct and candid counsel. Otherwise, don’t bother. You can agree with yourself all by yourself!