AICD Essential Directors Update
I attended the AICD Essential Directors Update today, and although I realise
many of you reading this may not be on multiple boards, many of you are
however, directors of your own companies.
If you do have a board of directors, 3 pieces of advice really stood out for me today:
1. Make sure that the minutes of your board meetings are clear and correct. You can be held accountable for what is written in those board minutes in any legal dispute. All directors are accountable for those minutes being an honest reflection of what is agreed.
2. Do not mislead the press. Honesty in marketing is the best strategy and press releases must be a representation of the truth. Spin doctoring is basically at the root of the problems at James Hardie, and fundamentally, a draft press release at that!
3. Taking the advice from consultants or experts employed to advise the board, as 'the truth', does not discount you, as a director, from the responsibility of the outcome. Basically, the buck stops with you.
If you do have a board of directors, 3 pieces of advice really stood out for me today:
1. Make sure that the minutes of your board meetings are clear and correct. You can be held accountable for what is written in those board minutes in any legal dispute. All directors are accountable for those minutes being an honest reflection of what is agreed.
2. Do not mislead the press. Honesty in marketing is the best strategy and press releases must be a representation of the truth. Spin doctoring is basically at the root of the problems at James Hardie, and fundamentally, a draft press release at that!
3. Taking the advice from consultants or experts employed to advise the board, as 'the truth', does not discount you, as a director, from the responsibility of the outcome. Basically, the buck stops with you.