by Corporate Secretary for Business Insider, May 31st, 2011.
Corporate secretaries are not only charged with upholding extraordinary expectations for their companies’ legal departments, they are also responsible for preparing their companies’ board directors for communications with shareholders and clients. But the ongoing education of members of the board of directors is a key responsibility that sometimes is overlooked. So, why is director education so important?
‘Corporate secretaries not only provide advice to boards, but they have to make sure that directors are up to speed with the changing regulatory environment,’ says Stephen Brown, associate general counsel and director of corporate governance for New York-based Teachers Insurance and Annuity Association of America – College Retirement Equities Fund (TIAA-CREF). ‘Additionally, there is an increasing pressure from shareholders to hear directly from the board. No corporate secretary is going to allow a director to talk to shareholders unless they are aware of current best practices and are able to respond to the new demands placed upon them.’ (continue reading… )