Given the ongoing seismic shift in the corporate governance landscape, directors find they must refocus and renew the proper role and functions of their boards. That’s the central theme of “Some Thoughts for Boards of Directors in 2010,” by Martin Lipton, Steven A. Rosenblum and Karessa L. Cain, authors of Wachtell Lipton Rosen & Katz law firm’s annual outlook for corporate governance guidance. The 32-page report, while allowing that there is clearly no-one-size-fits-all approach to crafting a successful board, offers recommendations for key areas of concentration including CEO Succession Planning, Long-Term Strategy and Monitoring Performance and Compliance. “Some are perennial themes that remain relevant and deserve to be re-emphasized from year to year, whereas others have recently come into particular focus,” the authors say.
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