“We are here to guide strategy and ensure good governance and compliance” I heard the long time director of the public listed company declare to an angry shareholder.
He went on “What happens in the company at operational level is beyond our reach and that’s why we have an executive team headed up by the CEO.”
I cringed and spoke up. “When was the last time you took a walk around your company’s offices, and met with the employees?” A stony silence was the response.
I persisted “When was the last time you got the entire leadership team together, with your fellow directors, to plan strategy?”
This time I got a response “The board plans strategy, not the entire leadership team.”
I asked “Does that explain your strategy to results gap?”
A barrage of passionate questions and some rather angry statements then flew from the other shareholders.
The chairman called for order and I left the room. I sold my shares.
Does this sound familiar to you?
