Elon Musk Shows Us Great Governance Isn’t Always Easy
Corporate governance types are trying to restrain every aspect of a CEO’s vision and influence. This a problem when it comes to Elon Musk and Tesla.
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Corporate governance types are trying to restrain every aspect of a CEO’s vision and influence. This a problem when it comes to Elon Musk and Tesla.
Good governance is not about optics. It’s about protocols and practices that are so embedded in a board’s culture that they can be communicated with the same ease as a company’s vision, strategy and metrics.
Governance in the corporate world is mainly “top down,” trickling from a board of directors, which is a distinctly different approach from the “bottom-up” governance principles R. Brad Oates learned in the NFL.
If directors take ownership of governance, they can drive the companies in their charge toward long term sustainable value creation over short term sophistry.
The only 10-K disclosure related to human capital is number of employees. There is a proposal from the agency from the Human Capital Coalition looking for more required reporting on issues like pay disparity and culture.
Governance best practices increasingly call for boards to engage with their investors on critical issues; yet much ambiguity still surrounds the shareholder engagement process.
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