On a front row seat at a board of directors meeting, while everyone acknowledges their power in deciding a company's direction and operation is beyond dispute, what corporate boards actually do, from day to day, is not well known. "On the Board" offers a unique perspective on how boards actually operate, while examining key issues and controversies boards generally face. Veteran CEO Bill Dimma outlines the most effective ways for a corporate board to govern. He details the nitty gritty of: executive and director compensation; director and board evaluation; CEO succession planning; board chairman and CEO roles, separation or not; pension fund management; advisory boards; and, the growing influence of institutional investors. Supported by the Institute of Corporate Directors, this invaluable guide offers both world class advice and sharp personal wisdom on the ways and workings of corporate boards.
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William A. Dimma has had a long and distinguished career as a director, serving on over fifty corporate boards and another forty not for profit boards. For almost forty years, he has been sought after for the knowledge and understanding he brings to the field of corporate governance, as well as for his dedication to, and passion for, improving the practice of directorship. Mr. Dimma has served as a director or chairman for the following organizations, among many others: Delta Hotels, Enbridge Corporation, Greater Toronto Airports Authority, London Life Insurance Company, Monsanto Canada, Sears Canada, Torstar Corporation, Trizec Corporation, and Union Carbide Canada Limited. In addition to his illustrious career as a director, Mr. Dimma has also held numerous senior management positions at companies such as Union Carbide Canada, Torstar Corporation and Toronto Star Newspapers, A. E. LePage, and Royal LePage. He is a former Professor and Dean of the Faculty of Administrative Studies at York University. He holds honorary degrees from Saint Mary s University and York University, as well as the Order of Canada and the Order of Ontario. The Institute of Corporate Directors (ICD) is the national association for corporate directors in Canada. Their membership represents directors who serve corporations of all sizes, from the largest public companies to the smallest private firms. The goal of the ICD is to ensure that directors are well prepared to deal effectively with the responsibilities of their positions, and are informed about the ever changing demands of corporate governance. The ICD acts as a resource to all corporate directors by providing information, educations, advocacy, and networking.
praise for
EXCELLENCE IN THE BOARDROOM
"After over thirty-five years on more than fifty boards, Bill Dimma has informed opinions on most issues that any director will ever face and he states them straightforwardly. Anyone who is, or hopes to be, a director can benefit immensely from reading this delightful, well-written book."
James Gillies, Professor Emeritus, Schulich School of Business, York University, and Author of Boardroom Renaissance: Power, Morality and Performance in the Modern Corporation
"This is the kind of book that every CEO and Chairman of a Board should read. It's refreshing material from someone with a great deal of experience. Bill Dimma writes in a very clear manner and presents invaluable advice and insights from many perspectives."
Larry Tapp, Dean, Richard Ivey School of Business, The University of Western Ontario
"Bill Dimma's insight into what modern board governance is all about sparkles with intelligence, wisdom, and a healthy dose of common sense. This practical book should be required reading for all directors."
Elaine Minacs, President & CEO, Minacs Worldwide Inc.
"This is an easy-to-read, well-written book. It will be invaluable to those who want to learn about, or increase their knowledge of, corporate governance. Teachers of the subject will find the book most helpful."
Purdy Crawford, Chairman, AT&T Canada, and Counsel, Osler, Hoskin & Harcourt
"Bill Dimma dares to open the boardroom door to show us governance in action, commenting with clarity and humour! He engages the veteran director while informing a broader audience about the challenges of the boardroom."
Gail Cook-Bennett, Chairperson, Canada Pension Plan Investment Board
Allinfavouropposedifanycarried!
What goes on behind the closed doors of corporate boardrooms is a mystery to most of us. In a complex and volatile business environment where news of corporate disasters is all too commonplace, shareholders, the media, and the general public are increasingly asking, "Where were the directors?"
Directorship may be more of an art than a science, but good boards really matter and do make a difference to corporate performance. Better boards make stronger companies. But what role do directors really play, what should they be doing, and what constitutes good corporate governance?
Bill Dimma draws on his vast experience as a director to shed light into the insufficiently lit boardroom of the business world. Excellence in the Boardroom assembles the collected wisdom and best practices of his distinguished forty-year career, serving on more than fifty corporate boards and another forty not-for-profit boards.
Excellence in the Boardroom offers a uniquely first-hand perspective on how boards actually operate and how they should function. It explores the causes and components of good governance, and examines the key issues and controversies that boards generally have to face:
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