Board of Directors Search Firm Shares Tip About How Governance is Not Management
Cardinal Board Services is a board of directors search firm that helps boards in multiple ways. This week we would like to share an important rule for a board member to remember by Ken Dayton, the former CEO and Chairman of Dayton Hudson (the predecessor to Target Corporation) and uncle to the current Governor of Minnesota Mark Dayton.
In 2001 Dayton published Governance is Governance, a timeless piece on the importance of good governance in both the profit and non-profit sector. He provides very clear and understandable of what the right relationship is between the CEO and the Chairman of the board. In addition a very comprehensive overview of each position brings clarity of responsibilities. My favorite line in the article which is repeated several times is “Governance is not Management”. Additionally Ken stresses the importance of board composition for effective governance.
Good insights for us all no matter the size of organization we are working with. For more information on how Cardinal Board Services can help with your next board of directors search call (952) 314-4636 or click here.