Governance can be crowded
There is no doubt boards of companies are the arbiters of governance over decision making, and guide management toward better uses of capital and resources. Interestingly, the demands on management to achieve fast paced improvements and compete on a global platform in a flawless and efficient way has led to the expansion of the C-suite. Newly invented roles pop-up frequently to fill the perceived gaps in innovation, risk, ESG, human capital and so on. Eventually the buck stops with the CEO to navigate the business forward. Sometimes even that may be split into co-CEO roles. Nevertheless, the spread of responsibility and decision making continues across the organization. The same goes for the constitution of the board and a plethora of roles all designed to add value. The best companies summon all the information together to focus on what matters most at that moment in time when a key decision is made. There is no right or wrong on this topic, it only matters if you are right! Watch for more on governance and influencers.