said by patcat88:They show up reluctantly once or twice a year
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Most boards meet much more than that- often once or twice a month in person and more frequently by phone
for a few hours since they are paid little if anything
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I wish that were true. Benefits for board members often run to tens of thousands of dollars per mtg
. They never read in deep, or have someone from the corp explain to them the proposals by phone the day before to get rubberstamped the next day.
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unfortunately for many board members that is true
All the members have day jobs at other fortune 500s or in govt.
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Some do. But many are retired CEOs, CFOs, etc and most boards now have members from academia & community organizations
Boards only exist to recruit investors and job placement obligations for their college frat/secret society buddies.
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some truth in that statement, but they do have fiduciary responsibilities that many take seriously. They can be sued if they don't act in a legal manner
