Executives Expect Boards To Be More Aggressive

Jan. 13, 2005
By John S. McClenahen Whether they like it or not, some 75% of senior executives at U.S. and European-based multinational companies expect their boards of directors to take more active roles. Indeed, in the wake of recent corporate governance and ...
ByJohn S. McClenahen Whether they like it or not, some 75% of senior executives at U.S. and European-based multinational companies expect their boards of directors to take more active roles. Indeed, in the wake of recent corporate governance and accounting scandals, 51% of the U.S. executives responding to a PricewaterhouseCoopers' survey and 32% of those in Western Europe say their audit committees have, or will, make changes in their membership or procedures. In both the U.S. and Europe, 57% of the executives believe their boards of directors will be more assertive in identifying and managing risk. In the U.S., 55% of the executives say their boards will have more input in the company's business structure and transactions; the figure in Western Europe is 52% And half or more of the executives believe their boards will be more active in assuring auditor independence. Some 242 CFOs and managing directors -- whose businesses include manufacturing and services -- were interviewed during the second calendar quarter of this year.

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