Magazine article New Zealand Management

The Balance of Power

Magazine article New Zealand Management

The Balance of Power

Article excerpt

I THINK I've watched too many American programmes where the chair of the board, dissatisfied with a debate, leaps from their chair with a casting vote or veto. The room falls quiet and the matter is concluded. Just like that. The chair's decision is final and no correspondence will be entered into. It's all very dramatic but is it what actually happens in our part of the world? Our cover story this month looks at the balance of control on boards and asks what style of leadership is expected from a chairperson, as more and more is demanded from boards and accountability and scrutiny rises. Our laws offer a chairperson no more power than any other director--indeed the Companies Act says that even having a chair is optional. See page 70 for the full story.

Looking beyond the appropriate level of chairperson power, we review the role board evaluation plays in boosting a company's success. Board evaluations, based around recognised best-practice models, are widely seen as an important method for developing better corporate governance, so what methods work best. We report (page 78) on the three main types of evaluation processes: the consulting-based evaluation, the web-based evaluation and paper-based evaluations. …

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