THE BOARD: COMPOSITION, RESPONSIBILITIES AND REMUNERATION
Corporate Boards set the ethical tone and the standards that decorate the reputation, legitimacy and trust that stakeholders bestow upon the entity. It matters not whether the entity is public, private or not for private; but it matters much on how the Board members are appointed; how the Board is composed; how well the members understand and discharge their roles and how professional and independent they remain. If left unfettered, the Board-CEO dynamics can create tension. The Board can be functional or dysfunctional depending on a number of parameters and Board members’ responsibilities can overlap and become conflict-prone in terms of personalities, interests and even values. Board remuneration and how it should be determined and composition and functioning of Board committees among other structures that characterize effective Boards are some of the aspects to be interrogated.