February 1, 2010
Six Steps to Restoring Trust in Corporate Governance From Former GE Executive
Ben W. Heineman Jr., General Electric's former senior vice president for law and public affairs, lays out six steps boards of directors should take to restore trust in corporate governance. They include:
1.A redefinition of the mission of the company.
2. A revamped internal leadership training process.
3. A refocused CEO selection process.
4. A restatement of fundamental but operational measurements for performance, risk and integrity.
5. A revision of compensation for the CEO and other senior executives.
6. A re-alignment of the board's fundamental oversight function.
For more information: http://www.wilmerhale.com/benjamin_heineman/