Media Clips

CFO Australia

July 2, 2008
Taking responsibility
By Ann-Maree Moodie
The idea of job descriptions for board members is generally met with opposition. The general view is that performance indicators such as those used by executive management teams would disrupt the collegiality of boardrooms and foster a climate of mistrust. Job descriptions push boards toward the notion of individual accountability, an uncomfortable space if you are a company director. The all-female board of the Australian chapter of the Association of Image Consultants International is one organisation that has conferred job descriptions onto its board members. Association boards present a very different culture to that of companies on the S&P/ASX 200, but the AICI demonstrates that the idea is executable. ASX Corporate Governance Council recommendations suggest that boards’ performances should be assessed, so it is a natural progression to have benchmarks for this assessment to be made against. A job description is one means of achieving this.
The Millstein Center for Corporate Governance and Performance at Yale University’s School of Management is embarking on a global search for young managers, commentators and academics who are forging a leadership role in governance.
 (Ann-Maree Moodie is managing director of the Boardroom Consulting Group and a judge for Chartered Secretaries Australia’s Governance Professionals of the Year Awards)
ASX Corporate Governance Council, Association of Image Consultants International, Yale University, Boardroom Consulting Group, Chartered Secretaries Australia