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The Fish Rots from the Head
Book

The Fish Rots from the Head

The Crisis in Our Boardrooms: Developing the Crucial Skills of the Competent Director

Profile Books, 2003
First Edition: 1996 plus...

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Editorial Rating

7

Qualities

  • Applicable

Recommendation

Is corporate governance in crisis? Look no further than the front page of your newspaper. You'll see a plethora of grubby stories concerning greedy CEOs, negligent boards, irate shareholders, downsized employees, cheated pension holders and ripped-off customers. Meanwhile, government regulators sharpen their claws and get ready to pounce. The public has become increasingly angry and cynical about corporate ethics, as the "perp walks" of pinstriped malefactors have become a nightly TV spectacle. Since it is directors who should ensure corporate accountability, transparency and probity – virtues sadly lacking in many boardrooms – directors are catching the heat. Bob Garratt insists that to clean things up, you must begin at the top. His insightful book details why boards have deteriorated and how they can improve. The title, a Chinese proverb, is an apt metaphor for the malodorous results of the governance mess. getAbstract recommends Garratt's informed exposé to corporate executives and board members who seek a thoughtful prescription for meaningful change.

Take-Aways

  • Lately, many corporations have dishonored themselves through shady dealings and unethical practices. This prompts the question: "Where were the directors?"
  • Too many corporate boards have relinquished their power to CEOs.
  • To restore good corporate governance, boards must re-establish their authority.

About the Author

Bob Garratt is the chairman of a London-based firm that assists companies to develop professional and effective boards. He is also a professor of corporate governance at London University.