Daniel Daeniker, a partner at the renowned law firm Homburger, recently addressed the issue of whether there are drawbacks when a former CEO joins the board of directors of their company, perhaps even becoming its chair. He advocated adopting a best practice approach, as opposed to a more rigid interpretation of international governance concepts. Let me elaborate on that: That leaders need some form of governance is a given. Anyone under no obligation to respect certain principles risks putting themselves first and the company’s welfare second. The question is to what extent top managers are involved when a company defines its code of governance.
As companies move from short-term crisis management to the task of recovery and reimagination, it will be critical for leaders to distill and “bottle” the essence of the culture shift that has occurred during the crisis.
As the battle against the global pandemic wages on, CEOs are confronted with a new set of challenges that require not only their intellect and steadfast determination, but also their humanity, vulnerability and humility.
Since the country erupted in racial protests in early June, many CEOs have taken a visible public stand against systemic racism, pledging to do their part in helping dismantle it. But until executive leadership of the world's top companies better reflect the diversity of talent in the population at large, these public commitments won't work.
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