Boards must look beyond the share price for CEO to navigate today's challenges, report urges BatPost
Two years in the making, the ICD-TMX Group’s recommendations are intended to prepare directors for the biggest challenges facing companies, including climate and technological change and geopolitical risk, in the same way the landmark Dey Report in 1994 laid out best practices for directors in the wake of a string of corporate scandals and failures.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.
Rahul Bhardwaj, chief executive of the ICD and co-chair of the committee behind the report, said recent news that Apple Inc. plans to move some iPhone production out of China goes to the heart of the report’s recommendations to boards to better manage business risks and consider multiple stakeholders to avoid costly outcomes down the road.Article content
A director’s job should also include identifying and recruiting “a new kind of chief executive who is better equipped to drive change across the broadest possible front, given the increasing complexity that surrounds business,” the report says, adding that healthy corporate culture and diversity are crucial for identifying risks and opportunities in this era.
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