Directors to watch: emerging voices of board leadership.

• Author: Chase, Scott
• Position: Virginia Gambale - Azimuth Partners LLC - Dina Dublon - Accenture - Kerry Clark - Cardinal Health Inc.

ANY ANNIVERSARY is a fresh chance to celebrate the past and survey the future. At DIRECTORS & BOARDS, we try to "look around corners" at the ongoing evolution of corporate governance. What new trends will keep directors awake at night? What regulatory or legislative initiatives will change the landscape of board responsibilities? Will the greed or inattention of a few create misery for the many? What new issues will arise from an increasingly activist shareholder population? What paradigms will emerge that make board service more rewarding and invigorating for those choosing this path?

And ... who will set the pace for board stewardship--and governance thought leadership--for the next decade or longer at the world's most important corporations?

As part of our own celebration of three decades of service to North America's leading companies, we've selected a handful of these emerging voices for your consideration. A panel of experts helped us with nominations, including partners at a leading executive search firm; board-level coaches and mentors; executive compensation, succession, and audit committee experts; and several senior board members.

In ensuing issues, we will present additional new voices, and over time we plan to revisit our "Directors to Watch" for their unique perspectives and to chart how their guidance instructs us all on the challenges and opportunities of 21st century board service.

R. KERRY CLARK

President and CEO, Cardinal Health Inc.

Kerry Clark joined Cardinal Health in April 2006 from Procter & Gamble Co., where he served as vice chairman of the board and was responsible for the company's $20 billion family health business. During his 32-year career with P & G, Clark had considerable strategic, operational, and corporate management experience and held leadership positions in North America and Asia.

Since beginning his career with P & G in Canada as a brand assistant in 1974, he held positions of increasing responsibility, including group vice president of laundry and cleaning products, president of P & G Asia, and president of global market development and business operations.

Going beyond tradition: "In today's complex regulatory and globally competitive environment, directors have a clear role in helping management understand and mitigate risks that go beyond the traditional financial matrices. Regulatory and supply-chain risks may be less top-of-mind with management but can quickly affect a company's ability to operate. Two years ago, most companies had never contemplated a global pandemic, but today it is included in any well-planned business continuity program.

"Directors also play important roles in ensuring strong talent development programs are in place. Beyond the CEO, directors need to know leaders in key roles and engage in development programs to ensure the organization has the bench strength to compete and grow."

DINA DUBLON

Director

Dina Dublon is a director of Accenture, Greenstone Media, Microsoft, and PepsiCo. She is a trustee of Carnegie Mellon University and a board member of the Global Fund for Women and the Women's Commission for Refugee Women & Children.

Until October 2004, Dublon was executive vice president and chief financial officer for JPMorgan Chase. She joined as a trainee on the trading floor in 1981; over her career she was closely involved in the negotiation and integration of the mergers of Chemical Bank with Manufacturers Hanover, Chase, JPMorgan, and Bank One.

She has graced the Fortune list of the 50 most powerful women in business for several years and has been honored by many organizations as a "Woman Who Makes a Difference." She is an active advocate for women's issues.

More than PR: "Where there is wealth creation there are broader responsibilities to society. Dealing with the effects of offshoring, health, or environmental concerns takes much more than public relations. Effective management of such issues must start with the board and can present opportunities, not just risks."

VIRGINIA GAMBALE

Managing Partner...