What’s Wrong With Boards, Rethinking Corporate Governance by Professor Fred Hilmer AO
On Monday, 22 August, I attended a great talk by Professor Fred Hilmer AO and David Gonski AC. The topic of the discussion was Professor Fred Hilmer’a new thought-provoking book: What’s Wrong with Boards.
The book provokes a more fundamental and far-reaching conversation about governance for Boards than we have witnessed to date, not just in Australia but more widely, as failures here have a parallel in most economies where public companies are significant players.
‘The public company governed by an independent Board is under pressure. In our view, flawed governance is the key issue. Almost all major decisions are and can only be made by the Board, including critical appointments (CEO, chair and directors) major investments and strategy. If these decisions are poorly made, the buck must stop with the board.’
The topic was further explored in a fireside chat with David Gonski AC, Chancellor of the University of New South Wales, facilitated by Megan Motto, Chief Executive Officer of the Governance Institute of Australia.
If you are a board member/business professional, then you will find Hilmer’s legendary experience brings fascinating insight and perspective to these critical issues.