A comprehensive guide to transforming boards and achieving best-practice governance in any organisation.

When practising good governance, the board is the vital driver of organizational success, while fostering positive social impact and economic value creation. At all levels, executives around the world are faced with complexities rising from disruptive business models, new technologies, socio-economic changes, shifting political circumstances, and an array of other sources. High Performance Boards is the comprehensive manual for attaining best-in-class governance, offering pragmatic guidance on improving board quality, accountability, and performance.

This authoritative volume identifies the four dimensions, or pillars, which are crucial for establishing and maintaining best-practice boards: the people involved, the information architecture, the structures and processes, and the group dynamics and culture of governance. This methodology can be applied to any board in the world, corporate or non-profit organization, regardless of size, sector, industry, or context. Readers are introduced to a fictitious senior board member - an amalgamation of board members from well-known organisations - and follow her as she successfully handles real-life challenges with effective governance. Drawn from the author's 20 years of practice and confidential work with boards across the world, this book:

• Demonstrates how high-performance boards innovate and refine their practices

• Discusses examples of board failures and challenges, including case studies from both for-profit and non-profit organisations including international organizations and state-owned agencies or even ministries

• Provides a proven framework to create best-in-class governance

• Includes a companion website featuring tools for board assessment and board practice

High Performance Boards has inspired more than 3000 board members around the world. This book is essential reading for professionals and managers interested in governance and board members, senior managers, investors, lawyers, and students of governance.

Autorentext

DIDIER COSSIN is a professor at IMD, Switzerland and the founder and director of the IMD Global Board Center. He is the originator of the Four Pillars of Board Effectiveness methodology and an advocate of stewardship. He is the author and co-author of books such as Inspiring Stewardship, book chapters (such as Governance Risk: A Guide for Investors) and many articles in the fields of governance, investments, risks and stewardship, several of which have obtained citations of excellence or other awards.

Didier works with asset owners, government officials, central bankers, boards and senior leaders to provide the latest thinking on best-in-class governance, board effectiveness, the governance of investments, board dynamics and strategy design. He favors an adaptive and interactive approach to finding distinctive solutions for organisations on a wide range of governance topics. His latest research focuses on stewardship, how we can foster organisations to have long-term positive social impact while creating economic value for all. His past research has dealt with optimising governance in critical decision-making situations (large investments, key personnel changes, M&As, strategic turnarounds and organisational threats). Didier also supports some leading non-profit organisations at fine-tuning their governance for impact.

Klappentext

Advance Praise for HIGH PERFORMANCE BOARDS

It is a reasonable assumption that successful boards will share some common characteristics, as will failing boards. The challenge is to identify these factors before success or failure occur. This book, evidently based on Didier Cossin's years of experience with boards around the world, goes a long way in doing so. The Four Pillars of Board Effectiveness will be an inspiration for many boards and their directors, as they consider how they can further strengthen their governance, enhance their effectiveness and ensure their success.
Paul Bulcke, Chairman of the Board of Directors, Nestlé S.A.; Vice-Chairman, Board of Directors, L'Oréal (FR)

Professor Cossin has got it spot on. His four-pillared 'temple' of board effectiveness is brought to life with the boardroom adventures of Joanne Marker. Indeed his construct has two outer buttresses that centre around people. Their quality, focus, dedication and also how they interact with each other dynamically to produce a governance culture of excellence. One hopes that right-minded and passionate directors or would-be directors will read this book and say 'I want to be a John or Joanne Marker when I grow up!'
Teo Swee Lian, Chairwoman, CapitaLand Mall Trust; Board Member of AIA, Singtel and Dubai Financial Services Authority

Didier Cossin brings huge direct experience to bear in his fascinating analysis of what makes a good board. Integrity, hard work, collegiality and independence of judgment matter hugely as personal attributes of board members as does a collective ability to focus on strategy, management support and risk. And if that sounds easier said than done, read this book. This board member felt wiser and more daunted by the end.
Lord Mark Malloch-Brown, Chairman, SGO; Board Member of Investec, Seplat Petroleum

Didier Cossin's book explains how governance can be a key factor for companies' success. It's a must-read for all board members!
Lorenzo Bini Smaghi, Chairman, Société Générale; Board Member, TAGES Holding

What impressed me most is the comprehensive coverage of every aspect of board work in a way that is solidly grounded in every day's practice in boardrooms around the world. As such, the book is a must-read for every aspiring board member, but also has a lot to offer for even the most seasoned board member with a curiosity for learning and continuous improvement.
Gerard Kleisterlee, Chairman, Vodafone Group Plc; Deputy Chair and Senior Independent Director, Royal Dutch Shell; Chairman, ASML

Thank you, Dr Cossin. Board members needed this book for a long time. This work will assist board members to understand their responsibilities better.
H.E. Dr. Mohammed bin Hamad bin Saif AI Rumhy, Minister of Oil and Gas, Sultanate of Oman

Inhalt

About the Author xvii

Acknowledgements xix

Preface xxi

Part I: The Four Pillars of Board Effectiveness 1

Joanne Marker and Board Service 3

Chapter 1 The Four Pillars of Board Effectiveness 9

The First Pillar: People Quality, Focus, and Dedication 11

The Second Pillar: Information Architecture 14

The Third Pillar: Structures and Processes 15

The Fourth Pillar: Group Dynamics and Board Culture 17

Chapter 2 Governance Challenges around the World 20

Scientific Lessons from Natural Selection 22

What is Transformational Leadership? 23

Should We Trust Leaders? 24

The Governance DNA 26

Chapter 3 The Successful Director: Values and Character 28

Duty of Care 30

Duty of Loyalty 32

Integrity: A Key Characteristic of Board Directors 32

Chapter 4 The First Pillar: People Quality, Focus, and Dedication 35

Quality 35

Focus 38

Dedication 41

Chapter 5 The Second Pillar: Information Architecture 45

How Complete is Your Information? 46

Chapter 6 Board Structures and Processes 50

Processes 51

Committee Structure 52

Board Secretary 53

Lead Director or Vice Chair 55

Chapter 7 Group Dynamics and Board Culture 56

Understanding Group Dynamics 57

Coalitions Within a Board Are Inevitable and they Feed into Politics 60

Boards Fall into Traps 63

Drawing Strength from the Board's Potential 66

Developing Self-Awareness 67

Board Culture 69

Part II: Board Failures and Challenges 77

Chapter 8 Four Areas of Board Failure 79

**Chapter 9 Risks and Ensuring the Right Board Risk-Philosophy 82…