The owner and the board

Abstract

This is an extraordinary remark, because the board is defined as being the mandated representative for the owner, the shareholder (-s). Therefore, the Chairman, being the leader of the board, should be the key counterpart for any key discussions with the owner he/she represents, on strategy and direction for the corporation. But this Chairman, who is chairing the board of a large European industrial group, is not alone in his search for a face and a voice with whom to discuss. This phenomenon, where there is a lack of a clearly identified owner who is tangible and present, is indeed one of the issues most chairmen and senior board members raised with me during the long discussions we have had during my work.