Posted by: nastylittletruths | October 22, 2009

Chairmen, Executive Or Otherwise

The Economist had an interesting article today, “Someone to watch over them” and I quoted one paragraph below to give a gist of it:

“The case for separation is based on the simple principle of the separation of powers. How can boards discharge their basic duty—monitoring the boss—if the boss is chairing its meetings and setting its agenda? How can a board act as a safeguard against corruption or incompetence when the possible source of that corruption and incompetence is sitting at the head of the table?”

The entire story can be accessed here:

http://www.economist.com/businessfinance/displaystory.cfm?story_id=14637626&Fsrc=mgttkgnwl

In a country where talent is so exceedingly difficult to get, sorry… ‘friends who can be trusted’… what could we possibly say to support our argument of having the same jokers in multiple boards? And not only as chairmen, but ‘executive’ as well… Shafeek Sultan Khan is chairman of WASA and CLICO, but acts as the de facto CEO of WASA. Anyone notice that after Errol Grimes departure the new guy is still acting?

Calder Hart is executive chairman, chairman and director of so many boards it can make your head spin! ( pre=””>TV6 – they are going to sue your rass after that 1/2 hour special last night, “Hart of the matter”)

A company that I worked with some time ago recently asked their MD to resign amid allegations of abuse of fiduciary duty – not stealing or anything like that but going against the grain of what the company stood for. Imagine that… just on principle. Made me proud that the Chairman – for whom I worked when he was MD but left when he vacated that chair – still held the values that made him a good boss. That we certainly won’t see it in any State boards because they answer to a different set of ‘values’.

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