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The Nuts and Bolts on Executive Sessions
A board’s success can depend on the strength of the independent directors. But as boards become more centralized around the CEO’s carefully choreographed meetings, there’s greater potential for kabuki-style processes, with all decisions eventually funneling through one member of management. Executive sessions may be instrumental to the strength of independent directors and should be a part of the board’s meeting schedule. Most boards believe they hold management accountable. Nearly three-in-four (74%) of the directors, chairs and chief executives surveyed by Bank Director in 2021 said their board had several directors willing to ask difficult, challenging questions. Another 72% felt free...
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Ryan has covered leadership, business and personal finance topics for more than15 years, writing for various publications, including Fortune, MONEY, The New York Times, CNBC and many others. He’s also the author of The Everything Guide to Investing in Cryptocurrencies.