Leading Expert in Corporate Governance

Professor David R. Beatty is one of the World’s most renowned and experienced Corporate Educator and Director. He managed one of America’s biggest food companies and has served on 39 various boards of Directors around Canada. He was also the chairman of 9 different companies and now serves on the board of directors at Colliers International. He also works on privately held Canadian steamships and Corporate Governance Consultant Canada. He founded the coalition of Good Governance in Canada which is an organization that showcases 50 institutional investors and he also teaches Corporate Governance and strategy at the Rotman School of Management in Toronto.

Governance – Consultation

In most organizations there is a huge chasm between the directors and Management teams, so together with his experience, Mr. Beatty has developed a mechanism to help cross over these spasms. The tools used can help broaden the choice of strategies and decisions by the management, which is sure to show great results in the future.

Implementing the right Culture: having the right thoughts and attitude in an organization is important for its growth and sustenance.

Be Clear, Memorable and Compelling: the tasks need to be properly set out and strategically monitored in order achieve the full potential of any employee. This should be overlooked by the board of directors and the management team.

Board Evaluations

When conducting board evaluations it is necessary to have ‘face - to – face’ discussions as this harnesses the right answers and information. This can be done annually and should be but together well. Follow these 3 steps when having board evaluations,

• Proper Talent
• The right Tone
• Allocated Time

Good CEO Selection

When choosing someone to govern an organization it needs to happen slowly but surely. Never rush into anything and always keep in mind what changes you want to be implemented in the next 7-8 years. When selecting a CEO leave no stone unturned as that is what guarantees the right candidate being chosen.

Grand Canyon

Given the vast chasm in organizations and almost 80% of CEO’s not knowing exactly what to do or how to increase the investment rate, choosing a leader with good attributes is a must. Look for individual achievements and attributes, understanding and knowledge, coupled with a good education.

The Chair Orchestrating the Board

According to David Beatty an effective chair orchestrating the board is essential when building a well thought out team. The responsibilities and duties of a modern board have changed a lot over the years and this requires staying ahead of the game. Here are the 3 main components.

1. Developing a matrix of skills
2. Installing and evaluating the board's decisions
3. Peer evaluations as this might lead to new and innovative ideas

Setting the Right Tone

The board of directors needs to set the correct tone to balance out the tension. Trust needs to be established in every angle in order for the relevant departments to get the job done, which is mainly questioning, probing and testing. Here are the 3 fonts to look into.

1. Trust among the directors involved in the decision making
2. Then between the board of directors and CEO
3. Lastly between the team and its relevant managers

Professor David R. Beatty of chairmanofboard.com provides corporate governance, board evaluation and CEO consultation in Canada. He offers valuable experience working with global boards and CEOs.