TSXV:KUR.H - Post by User
Post by
ice148on Aug 09, 2002 7:14am
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Post# 5347761
Hindsight thinking by J. Friedman.
Hindsight thinking by J. Friedman.or from someone who doesn't have to work???????????
taken from Globeand mail.com
One possible way out of the trap is to pay directors a lot more money and insist they earn it by spending a lot more time second-guessing and challenging the CEO. Jeff Friedman, a former senior executive of Dylex and Unique Broadband Systems, has another suggestion. He has floated the idea of an independent management "monitor," appointed by the board and paid handsomely. The full-time monitor would have unfettered access to management meetings and would present his notes to the board. This would improve the directors' knowledge of the company's financial state and the CEO's motivations. It's a nice idea, but whether a CEO would be willing to be shadowed by a board spook all day long is another question.