Get value from your global director.
Author | Johnson, David W. |
Position | BOARD COMPOSITION |
Ed. Note: In 1996 when David W. Johnson was chairman, president and CEO of Campbell Soup Co. he wrote an article for Directors & Boards titled "Globalizing Your Board." Here are some tips he offered.
The "contract" with an overseas director must be innovative and it must differ from that for a "local" director. I offer six suggestions, all of which have been applied in my own boardroom:
* Involve the entire board in setting expectations.
* Agree on a specific number of board meetings per year (perhaps 50 percent) that the foreign director will attend in person.
* Specify certain meetings (such as the annual meeting of shareowners and the meeting to review strategic plans) that will be attended in person.
* Consider moving meetings of the board to locations better suited to overseas directors. For Asian directors of U.S. companies located in the eastern U.S., this might be as...
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