Boeing affair casts spotlight on changing role of... -
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Published on: 3/8/2005
Last Visited: 10/28/2005
The scandal showed how important it was for the relationship between the chief executive and chairman to be completely transparent and upfront, argued Steve Wigzell, partner at board performance experts the Change Partnership.
"The chief executive should have a relationship with the chairman that allows him to own up to things like this and get guidance," he suggested.
Increased scrutiny of boardroom activity was changing the relationship between the top two, meaning it was now much more up to the chairman to shine a light on the performance of the board and the conduct of its officers, he added.
"There needs to be mutual respect and trust between the two.The best relationships are characterised by openness but where things are not so cosy that the chief executive simply gets back what he wants to hear," Wigzell said.
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"You need to be able to say what you mean, mean what you say, be straight and keep open the lines of communication," advised Wigzell.