A board of directors cannot run the company even if it tried, but potential investors should know that a high performing board generally means a high performing CEO, said Peter Browning, author of The Director’s Manual. ‘It is useful and helpful for investors to see the mix of backgrounds and experience and the kind of things those directors have gone through before to help you have a better feel for the quality of advice and information the CEO is getting,’ said Peter Browning. Browning has served on the boards of 13 public companies, two as CEO, and is the founder of board advisory service Peter Browning Partners. Browning said he has no problem if a company’s CEO also serves as chairman of the board. He said the New York Stock Exchange decision in 2002 that forced independent directors to meet alone shook the world of corporate governance. Prior to that listing mandate, no CEO would ever allow his board to meet without him or her, but that has changed, according to Browning.
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