Zebra Technologies Board Chairman Michael Smith said he was surprised by the findings. Because in his experience, GC “sits through virtually all board deliberations except for executive sessions,” he said in an interview with. Corporate Board Members.
“If there's a place where risk assessments and mitigation plans are put together, it's usually under the GC, and certainly it's a surprising and concerning thing because it's certainly the core responsibility of the board as a whole,” he said.
Jan Babiak, who chairs the audit committees for the Walgreens Boots Alliance and Bank of Montreal and serves on the boards of several other public companies around the world, says that data could highlight the most important operational distinctions based on company size.
In the company where she was a corporate director, GC may or may not be present on a full board meeting. GCs are not usually the “main interface” during cyber and many other risk-related deliberations. “Many board members are not aware of the level of GC engagement as GC is not necessarily talking to the full board. [some of these issues]She said. Instead, for example, CISOs in the case of cybersecurity are likely to be sitting in conversations with the board or related committees, depending on the issues being discussed.
But she says it doesn't mean that GC doesn't provide extensive support or leadership behind the scenes. “If no competent GCs were consulted and not being raised on this, I would be very surprised. In fact, I'd be worried if the GC is the person who's the front. [the issue] Because that may mean that we didn't have the depth of experience in the organization that we needed. ”
Thus, perhaps the cutting highlighted by the findings between directors and general counsel on risk and board support reveals the untapped potential of stronger collaborations. As the majority of GCS voted to say they welcome more education/training on how best to advise the board, the sector may offer a first step to strengthening a very important relationship as companies continue to face unprecedented disruptions in their strategic planning.
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