Tag Archives: leading board

Boardroom Trends – Is Your Board Prepared?

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Say on pay, director indemnification, the structure of risk committees, Bob Bostrom, partner, SNR Denton, talks to Corporate Board Member about the top issues for corporate boards this year, and what directors should do ahead of time to prepare.

To see the video: Boardroom Trends – Is your Board Prepared ?

Staying ethical in a competitive world

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“Ethisphere Institute, a New York City think tank, has unveiled its sixth annual list of the
(WME).

The list identifies organizations with fair business practices and standards compared with their industry peers. Achieving this level of recognition can be a challenge for many companies because finding the right leadership to guide an organization through difficult economic times, while also meeting expectations for ethical conduct, is not always easy.
 
This year, nearly 5,000 companies were nominated but only 145 made it onto the list. According to Ethisphere, the 2012 list includes representatives of more than three dozen industries, from aerospace to wind power, with 43 of the winners headquartered outside the US.


Ethisphere methodology includes measuring the nominated company’s governance structure against checklists from organizations like GovernanceMetrics International. If a company fails to have a ‘good’ rating due to bribery allegations, corporate citizenship, regulatory and ethical issues, it is automatically tossed out of the list.This year’s first-time recipients included Hasbro, Realogy, Petco, Britain’s Ethical Fruit Co, Thrivent Financial for Lutherans and Henry Schein, along with 31 others. Some 18 companies were removed from last year’s list this time due to ethical violations or lack of social responsibility initiatives.The economic climate over the past several years has made it particularly difficult for top leaders and executives to land a place on the Ethisphere list. When the bottom line is under stress, other objectives can become secondary, or be completely ignored. Just look at the number of now-defunct firms and fraudulent activities the SEC and Department of Justice have cracked down on in the past year. For a firm to make it onto the WME list is, therefore, undoubtedly both an honor and an achievement.Marriott International is one of the few companies to secure a hard-earned spot on the ethical companies list not once but five times in the past six years. So how does Marriott maintain its sharp focus on ethical practices in a highly competitive world?

Well, ethics is correlated with leadership and it all starts with the tone at the top. The company’s executive leadership in its Bethesda headquarters and in regional offices around the globe has set an example admired throughout the industry.
 
In Marriott’s law department, general counsel and executive vice president Ed Ryan and his team have taken to heart the principle established by the hotel operator’s CEO and chairman John Willard Marriott (JW) and COO Arne Sorenson, as they have helped guide the company through some of its toughest times.”

This is an extract from Corporate Secretary, to read more: www.corporatesecretary.com