StrategyDriven Podcasts focus on the tools and techniques executives and managers can use to improve their organization’s alignment and accountability to ultimately achieve superior results. These podcasts elaborate on the best practice and warning flag articles on the StrategyDriven website.
Special Edition 35 – An Interview with Robert Kolb, co-author of Corporate Boards explores the motivations, conflicts, limitations, roles, and ethics of corporate boards; answering the often asked question of why Boards and their members behave the way they do. During our discussion, Robert Kolb, co-author of Corporate Boards: Managers of Risk, Sources of Risk and Professor of Finance and holder of the Frank W. Considine Chair of Applied Ethics at Loyola University Chicago, shares with us his insights and illustrative examples regarding:
- the Board of Directors’ role in managing upside risk
- how companies deal with the risk of diminished Board independence that occurs when the CEO is also the Chairman of the Board
- what time-inconsistent misconduct is and why it occurs
- why compensation plans may encourage executives to engage in exceedingly risky merger and acquisition deals and the actions Boards take to mitigate this risk
- the Board’s role in establishing executive compensation, including those mechanisms that result in unduly rewarding failure
- who the Board of Directors should serve… just shareholders or a broader group of stakeholders that includes shareholders, employees, the environment, and society
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About the Author
Robert Kolb, co-author of Corporate Boards, holds PhDs from the University of North Carolina at Chapel Hill in philosophy and finance and has taught at the University of Florida, Emory University, the University of Miami, the University of Colorado, and Loyola University Chicago, where he currently serves as Professor of Finance and holds the Frank W. Considine Chair of Applied Ethics. Robert is the author or co-author of more than 50 research articles and 25 finance texts on topics, including financial derivatives, investments, corporate finance, and financial institutions. Robert recently edited the Encyclopedia of Business, Society, and Ethics. He also founded Kolb Publishing, Inc., which published finance and economics university texts and was acquired by Blackwell Publishing, now part of John Wiley & Sons, Inc. To read Robert’s complete biography, click here.