- Balancing Relationships: Sending a Clear Message
- May 4, 2005 | Author: Michael M. Froy
- Law Firm: SNR Denton - Chicago Office
Martindale-Hubbell posed the following question to provide a variety of views on this important topic:
What are the best ways for corporate counsel to balance the relationship between the board of directors and the CEO while satisfying both?
The intersection of education, communication and process should be the focal point for corporate counsel when sorting out relationships between the board and CEO. Education means making certain that all parties¿the board, board committees and the CEO¿ understand their roles, responsibilities and applicable governance requirements. Communication involves ensuring active, meaningful and comprehensive interaction among all parties, preventing surprises. Finally, appropriate processes will keep parties informed about matters of significance and allow sufficient time to react. The corporate counsel can serve as the conduit through which all three actions occur.