If boardroom meetings were streamed live for investors, would there be an improvement in board performance? Kieran Moynihan of Board Excellence says radical steps like this are necessary to improve corporate accountability.
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Shakespeare’s famous lines from Julius Caesar, “There is a tide in the affairs of men, which taken at the flood, leads on to fortune”, illustrates in a very prescient way the crossroads that PLC boardrooms have arrived at.
After relentless waves of corporate and boardroom scandals, an ever-growing revolt by shareholders on executive pay and poor standards in ethics, boards are facing an unprecedented level of scrutiny of their behaviours, their effectiveness and their performance as a board team in protecting the interests of their shareholders and stakeholders while adding genuine strategic value to the organisation.
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Despite efforts to trim their bulk, the battle against the ever-increasing length of annual reports has been lost. Meanwhile, companies have also failed to take the opportunities offered by using digital formats, writes Kevin Reed.