The Independent Director in Society: Our current crisis of governance and what to do about it

The relationship between executive management and non-executive or independent directors has become unbalanced, leading to a governance crisis in society. The Independent Director in Society offers two solutions: policy and independent directors. Urgent improvement is needed in standards of thought and action, as well as the calibre of these directors, and directors must develop an independent mindset to make better decisions.

Format: Paperback / softback
Length: 271 pages
Publication date: 29 August 2021
Publisher: Springer Nature Switzerland AG

The relationship between executive management and those responsible for overseeing organizations has become increasingly unbalanced, leading to a governance crisis across society. The Independent Director in Society offers a solution to this crisis, based on original research from Henley Business School. The book surveys and analyzes the governance issues faced by organizations in various sectors, rather than just focusing on the business sector. The authors argue that all organizations share common problems and require similar solutions, although the approach may vary.

The first solution proposed by the authors lies in policy, emphasizing the need to give existing codes of practice more teeth and make them fit for purpose. This involves a move towards greater enforcement and accountability, rather than the introduction of new legislation. The second solution lies with independent directors themselves. Urgent improvement is required in the standards of thought and action, as well as the caliber of these directors. Independent directors must develop an independent mindset that enables them to make better and more accurate decisions.

To create a culture of independent thinking among directors, various elements are necessary, including selection, training, and education. Chairs and executive teams also play a crucial role in supporting directors and fostering an independent mindset. However, the responsibility ultimately rests with the directors themselves to recognize their responsibilities in a complex and volatile world.

The book provides valuable insights into the governance crisis and offers practical solutions for improving the role of independent directors in organizations. It is a must-read for anyone interested in governance, leadership, and the future of society.

Weight: 458g
Dimension: 156 x 234 x 20 (mm)
ISBN-13: 9783030513054
Edition number: 1st ed. 2020