Corporate Governance: The Jack Wright Series (3) Board Selection

Abstract

This case deals with the means by which a company's board assess its strengths and weaknesses, identifies the skills and experience it needs, derives a list of suitable candidates, conducts due diligence in the process of narrowing in the list, and invites desirable candidates to join the board. Excerpt UVA-OM-1085 Rev. May 11, 2011 CORPORATE GOVERNANCE: The Jack Wright Series (3) Board Selection Jack Wright asked John Rock what the process for selecting him for the board had been, and Rock described it as follows. The Mega Corporation's Governance and Nominations Committee was composed of Sam Bigger, the chairman; John Rock, the CEO; Bill Monday, the long-term general counsel; and Sally Bigger Moses. This group usually met a couple of times each year over lunch. One meeting was usually scheduled in February so that, if there were a vacancy, a selected nominee could be put forward in the proxy statement for election at the annual meeting in April. . . .