Never before has the need for vigilance and attention to corporate governance been so imperative. During his inaugural address, President Barack Obama implored Americans to embrace “a new era of responsibility.” For corporate officers and directors, the message could not be more apt, and signals that this new era will be both challenging and invigorating. Public and investor confidence in corporate governance has eroded, corporate directors are under intense scrutiny, and new regulatory action is imminent. For the purpose of empowering boards to improve effectiveness and renew confidence in U.S. corporate governance, the National Association of Corporate Directors (NACD) has published a set of “Key Agreed Principles for Strengthening Corporate Governance.”
All of us who worked to arrive at a consensus on what the Principles should be believe that they will play a critical role in helping corporate leaders, regulators, and investors develop new approaches to oversight. The next step is all yours. First, please read the Principles, and then engage your board in a robust discussion around them. Consider whether your current practices are in alignment or whether they argue for revisiting your governance priorities. Then further your participation by providing real-world feedback to us. Please email me your comments to keyprinciples@nacdonline.org and mention you read about them in my column in Directorship.
Now, about this issue: The NACD is pleased to join forces with Directorship in a collaboration of our extensive resources with this publication’s respected editorial team. This agreement will allow us to continue to better deliver value to you, our members, and those soon to become members. The rebranded magazine, NACD Directorship, is now the official magazine of the NACD and what you hold, fittingly, is our inaugural issue. Its annual subscription price of $295 will be waived as a benefit of your membership in the NACD. In addition, NACD Directorship will produce co-branded conferences including the Global Issues Forum in June, to which NACD members receive preferential treatment just as you do for NACD’s other educational programs.
I am pleased to note that NACD Directorship will benefit from the oversight of a distinguished Editorial Board of Advisors comprised of key individuals from both organizations, as well as leaders from the advisory, shareholder, and business communities.
I look forward to your feedback on our new endeavors.