NACD - National Association of Corporate Directors

[Management in Korea] Reforming chaebol boards is a big job. Here’s how it can happen

Management in Korea is a regular column written by the members of Egon Zehnder Seoul touching on various aspects of Korean enterprises and business leaders and offering management tips.

The role of the board of directors is rapidly evolving in Western countries. No longer rubber stamps hand-picked by CEOs, Western boards are now expected to provide true oversight of management, not just in terms of maximizing shareholder value, but in grappling with broader issues like innovation and globalization. In forming the board, nominating committees are expected to look outside their own circle of contacts to build a team with the appropriate range of experiences, perspectives and networks to be a true strategic asset to the CEO and the company.

To read the full article, visit Korea Herald.