Big Daddy is back from vaca and has something for you that is spanking brand new! Posted in our “Annual Shareholders’ Meetings” Practice Area, this comprehensive “Annual Report & 10-K Wrap Handbook” provides a heap of practical guidance about how to deal with Rule 14a-3. This one is a real gem – 43 pages of practical guidance.
More on “Should CEOs Even Be on Boards?” v. “Should CEOs Conduct CEO Successions?”
Recently, I blogged on the topics of “Should CEOs Even Be on Boards?” v. “Should CEOs Conduct CEO Successions?” and asked for feedback. Here are two differing views that I received:
– Kris Veaco notes: “I’m not a fan of hard and fast rules – no CEO as Chair, no CEOs on boards. I believe it all depends on the board, the personalities and experience of the particular CEO. I’ve worked with boards where the CEO was a member and boards where the CEO was not a member. In any event, the CEO’s voice is one of many and brings to the discussion information on the business that is useful to the other members of the board. Executive sessions would exclude the CEO in any event. It should depend on the particular situation.”
– Jim McRitchie notes: “Ideally, CEOs shouldn’t be on boards. I used to head California’s cooperative development program before it was killed. The co-ops and credit unions I dealt with had boards that didn’t include the CEO. CEOs attended the meetings and made many of the presentations but they didn’t get a vote and it was very easy to meet without them and discuss their performance and succession planning. Many of the large co-ops failed but it certainly wasn’t because of separating the two positions.”
Transcript: “Divestitures: Nuts & Bolts”
We have posted the DealLawyers.com transcript for the webcast: “Divestitures: Nuts & Bolts.”
– Broc Romanek