Tough Love in the Boardroom
In order to avoid another Enron, WorldCom, or Tyco, company directors have assumed a bold and independent role in the boardroom, monitoring the actions and day-to-day operations of the CEO. This dramatic shift has created a new dynamic, one that requires careful negotiation from both parties to get the job done. Giving directors, executives, investors, and stakeholders the tools to make this relationship work, William M. Klepper describes the best techniques for building a productive partnership and establishing a plan of action for a variety of businesses and settings.
Klepper, an executive educator, has worked with AT&T, Bausch & Lomb, Johnson & Johnson, Sony, Sun Microsystems, and a host of other corporations. He knows what makes a healthy partnership between a board and its CEO and the consequences of a bad fit. In this book, he details the eight practices of successful executives, such as facilitating innovation, motivating change, and developing leadership skills, and he explains what directors need to evaluate, such as working style, social behavior, and the handling of stress, before they commit to hiring a CEO.
The most critical element is the social contract, in which directors and their CEOs agree to be transparent, continually reassess their company's risk, maintain core company values, and make a commitment to their stakeholders. These include employees, shareholders, customers, and the community. In this essential volume, Klepper encourages directors to embrace their independence, and he teaches executives to value tough love.
Too many researchers forget that we have as muchor moreto learn from failure as we do from success. By examining transitions that have worked and ones that haven't, William M. Klepper has given us new perspective on how the board can work with the CEOs while still holding them accountable. This work is a much-needed addition to the canon of board-level best practices.
Michael E. Raynor, author of The Strategy Paradox and coauthor of The Innovator's Solution
The CEO's Boss is a read for anyone who looks to be taking the highest position in a company.
The CEO's Boss serves up a wealth of practical, hands-on recommendations to build a productive partnership and a plan of action for a variety of businesses and settings.... For anyone who wants to take board evaluation, leadership structure, and dynamics to the next level, The CEO's Boss is inspired reading and will provide impetus for discussion.
Read the chapter >Tough Love in the Boardroom. (pdf)