Restoring Trust in Corporate Governance: Six Essential Tasks for Boards of Directors and Senior Executives

by Committee for Economic Development, January 25, 2010.

CED Statement Aims to Focus Directors and Executives on Governance Essentials in Time of Economic Turmoil and Change

If American business leaders are to restore public confidence in how companies are run, boards of directors must discharge six essential, closely interrelated tasks. That is the message of a new CED policy brief, Restoring Trust in Corporate Governance: The Six Essential Tasks of Boards of Directors and Business Leaders. The brief was written by Ben W. Heineman, Jr., CED Trustee and former Vice President and General Counsel for General Electric Corporation, with the consultation and advice from the CED’s Subcommittee on Corporate Governance.

“These tasks require a redefinition of corporate mission and CEO role,” said Heineman, “to make fundamental the balance of risk-taking with risk management and the fusion of high performance with high integrity…(continue reading)

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