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Excellence in the Boardroom
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Excellence in the Boardroom

Best Practices In Corporate Directorship

William A. Dimma
Wiley, 2002

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Editorial Rating

9

Qualities

  • Innovative
  • Applicable

Recommendation

That creaking sound you hear is Bill Dimma closing the barn door after Enron already got out. Dimma sounds a late, but nevertheless critical, wakeup call for U.S. corporations: They must institute policies of sound corporate governance at the board of directors level if they are to succeed and survive. About 80% of Fortune 500 companies combine the roles of chairman of the board and CEO, violating Dimma’s rule number one - separate powers. getAbstract.com recommends that the management and directors of every one of these companies read Dimma’s book and implement the measures that he prescribes.

Take-Aways

  • The primary responsibility of a board of directors is to protect shareholder interests.
  • Management cannot govern the company; boards cannot manage the company.
  • It’s almost always a mistake to have the same person as CEO and Chairman.

About the Author

William Dimma has served on the boards of Capstone Investments, American Eco Corp.; Home Trust Co., Magellan Aerospace, Monsanto Canada, Polysar Chemical, Sears Canada, London Life Insurance, Toronto Star Newspapers and Union Carbide Canada and about 40 other companies.

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