A unique insight into the work of corporate boards and why their work is so important in society, by a hugely influential economist who has global recognition
Corporate boards have never been under greater pressure. They face hostility from every quarter: society, investors, and regulators. A Harvard study found that 51 percent of 18-29 year olds do not support market capitalism; in 2018, the Founder-CEO of Blackrock, the world's largest investor, warned CEOs of public companies that they "must not only deliver financial performance but also show how it makes a positive contribution to society;" On the 2020 campaign trail, U.S. Senators Bernie Sanders and Elizabeth Warren applauded such talk but warned that they expected action.
HOW BOARDS WORK is, at its core, about the need for corporate boards to fundamentally change. Not least of which is the need for the boards and the corporations that they lead to adapt to the rapid changes in business, geopolitics, technology and societal norms currently afoot. Most people, including business executives and employees, even shareholders and many legislators, understand little about what boards actually do. HOW BOARDS WORK will fill that vacuum by bringing readers into boardrooms for an insider's view of the tensions and shortcomings of boards, the conflicting priorities and trade-offs they face, and why some fail and others succeed.