10 steps for meeting new governance rules.

• Position: Business Briefs - Corporation management - Brief Article

1. Insure the independence of the three main committees -- Audit, Compensation and Governance.

2. Establish clearly written charters for each of the committees.

3. Select someone to be lead director, either for a set period of time or on a rotating basis, who will preside over executive sessions.

4. Make sure there is a clear procedure in place for evaluating the CEO.

5. Establish a regular process for evaluating the board.

6. Use an outside source for recruiting directors, especially a proven financial executive.

7. Develop a strategy that outlines future board composition.

8. Make sure there is a concrete plan in place for succession and that the board is involved in broader succession and management development activities.

9. Make sure compensation for management is directly...