Shared Responsibility: New Governance Requirements and Corporate Executive Roles
The Nominating/Governance, Audit, and Compensation Committees composed solely of independent directors have become fixtures of the governance landscape. New regulations, reporting requirements, and evolving governance norms place increased responsibility on management to assist boards by presenting expanded relevant information on subjects as diverse as sustainability and operations risk, board succession planning, compensation and benefits, and information about shareholders and their concerns. In addition, expanded emphasis on the reporting of risk to shareholders and regulators will require additional attention from executives and directors throughout the organization.
This three-part KnowlEdge Series will focus both on the governance responsibilities of boards of directors and on the functional and operational responsibilities of corporate staff who provide support to the board or board committees as they address these changed requirements. In particular, the series will discuss:
- How are board committees responding to the mandates of Dodd-Frank and new SEC regulations?
- How can Nominating/Governance Committees constructively respond to shareholder empowerment and prepare for the new SEC rules regarding corporate elections? How will these changes affect investor relations, public policy and communication functions?
- How does corporate strategy impact board succession and board diversity challenges?
- How can Compensation Committees best communicate with the investing public and best prepare for “say on pay”? What are the roles of Corporate Communications, Investor Relations and other functional areas in gathering information and supporting these efforts?
- What is the Audit Committee’s role with respect to enterprise risk? What are best practices in the working relationship between the committee and corporate risk management functions? What information do Audit Committees need to perform their functions? How can corporate staffs understand directors’ perspectives and contributions to risk identification and management? At the same time, how can the Audit Committee avoid overloaded responsibilities?
Audience: This KnowlEdge Series is designed for senior functional and operational executives and their staffs who are faced with increasing responsibility for understanding the evolving standards for governance, the role of the board and its committees, and the need for management to understand and adhere to new standards and to prepare accurate and timely reports for the board and other stakeholders. This includes executives in corporate communications, investor relations, human resources and talent management, audit and operational areas.
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02 November, 2010 01:00 PM EST [13:00] | (1 hr)
Please note: Recordings are not available for Parts 2 and 3 of this series
Senior Fellow, Corporate Governance
The Conference Board
Alan Rudnick is a senior fellow with The Conference Board Governance Center. Rudnick has extensive experience as a former general counsel and corporate secretary, and a former assistant state attorney general. He has held positions in f... Full Bio
Partner, Center for Board Governance
Don Keller is a partner in the PWC Corporate Governance Practice, which provides thought leadership and viewpoints to the governance community. He has over 35 years of experience serving some of the firm's most distinguished multinational Global ... Full Bio
Peter C. Browning
Peter Browning, founder and Managing Director of Peter Browning & Associates, LLC, a board advisory service, has a wide range of experience in business. Beginning as a sales trainee, he spent 24 years with the Continental Can Company, includin... Full Bio
Senior Fellow, Governance Center
The Conference Board
Robert B. Lamm is a Senior Fellow with The Conference Board Governance Center and Chair of the Securities Law Committee of the Society of Corporate Secretaries and Governance Professionals.
Most recently, Mr. Lamm served as Assistant Gener... Full Bio
Robert L. Burrus Jr.
Robert Burrus Jr. has been Chairman Emeritus and Senior Partner in the law firm of McGuireWoods LLP, Richmond, Virginia since 2007. He served as Chairman and Partner of McGuireWoods LLP from 1990 to 2006. He is currently a director of Smithfield F... Full Bio
James F. Reda
Founder/ Managing Director
James F. Reda & Associates LLC
Jim Reda works with both public and private organizations in planning, creating, and implementing incentive programs. Jim also advises companies on incentive strategy, including long- and short-term senior executive employment arrangements, ... Full Bio