PLovett, this is the problem today, things like this being said....
"The primary reason for the board's existence is to provide oversight and policy direction to the CEO. That may have been compromised but I don't think it has ever lost relevance. It is to make money for the shareholders and it is set down in law."
To make money for the shareholders is not the primary reason for the boards existence. The board is there to run the company well so it performs to its best, turns a profit and THEN, makes money for the shareholders.
Too many boards today are making decisions based on what the shareholders want, NOT what is good for the company.
It's a bloody stupid way to do business really, I mean, without the business, shareholders have nothing don't they?
