Editor's Letter: The Governance Community

The universe of people who influence how boards operate is constantly expanding. In addition to board directors, it now includes an extended cast of executives, shareholders, regulators, auditors, advisors, commentators, and at least a few lawyers. The relationship between each is unique, if sometimes delicate. For the most part, though, the wiring that connects boards, management, and investors, operates pretty effectively. There are occasional sparks, to be sure, but the big picture remains the driving force for all of the above: the creation of value for the shareholder owners.

The proper functioning of this system has played a large role in the supremacy of American capitalism for the better part of the last 100 years. But it doesn’t just hum along on its own. Individuals have shaped its function through their ideas, debate, leadership, scrutiny, innovations, and, occasionally, revolutions. The Directorship 100, now in its second year, is a recognition of the individuals who are currently at the forefront of making this system work, viewed through the lens of the boardroom.

The list was influenced by the events of the last 12 months. As such, there is a heavier presence of regulators, directors, and CEOs. Regulators are currently putting together plans to improve—hopefully—the economy and capital markets. People such as Congressman Barney Frank will have tremendous impact, direct and indirect, on the boardroom over the next year.

At Directorship we rely on this same community. I’d like to thank a few people who helped us complete this sizable undertaking. A panel of advisors, including Patrick McGurn, Holly Gregory, and Charles Elson, to name just a few, were indispensable in helping us define the criteria and select the honorees. Assistant Managing Editor Judy Warner spearheaded the project and did a marvelous job bringing it all together. Our friends at OCEG helped us develop a map of the corporate governance ecosystem (page 32) that illustrates the relationships between all of these groups.

Finally, I want to thank you, our readers, for your input on the list through the numerous polls and online surveys we did. We know it isn’t perfect; no “best of” list ever is. So we want to continue to get your feedback. Weigh in on who you think should have made the cut: www.directorship.com/D100

Joseph McCafferty

jmccafferty@directorship.com