For the past five decades, boardroom corporate governance has been evolving through small, incremental changes. Now the traditional boardroom model is under siege from many disparate forces.
Forces like global product and service market shifts, geopolitical changes, challenging economies, capital market volatility and uncertainty, quarterly earnings and earnings season reports, active shareholders, proxy advisors, hedge fund activists, and, at times, shareholder expectations or demands for buybacks or dividend increases, all have growing impacts in the boardroom.
Piecemeal efforts to meet these forces have not been helpful to boards. The Millstein Center believes that board governance is now at an inflection point – a time when these forces will cause major shifts in the boardroom – which could be good and productive or, unplanned, could be less good and even harmful.
Learn more about the Millstein Center's work
Board Excellence and Fiduciary Duties: The Center has just published two new papers on the fiduciary duties of corporate directors. The first paper synthesizes the latest decisions of the Delaware courts on the standards of conduct for directors and the standards by which their conduct is reviewed. The second article article, by Chief Justice Norman Veasey and Ira Millstein, is intended for corporate directors and explores the key issues that directors should understand with respect to their fiduciary duties. You can download the paper and article here.