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Boards at WorkHow Directors View their Roles and Responsibilities$
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Philip Stiles and Bernard Taylor

Print publication date: 2002

Print ISBN-13: 9780199258161

Published to Oxford Scholarship Online: January 2010

DOI: 10.1093/acprof:oso/9780199258161.001.0001

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(p.117) 8 Conclusions
Boards at Work

Philip Stiles (Contributor Webpage)

Bernard Taylor (Contributor Webpage)

Oxford University Press

In the United Kingdom, the boards of directors of large public companies inhabit a rarefied world of power, influence, and responsibility. Directors enjoy the privileges of status and reputation and are mostly well paid for their services. However, there is also a weight of expectation on them, both internally from managers and employees and externally from shareholders and stakeholders, concerning their performance. A common theme that persists in this book is whether management controls the board or vice versa. The book has shown the multifunctional nature of board activity, the internal differentiation between executive and non-executive directors, between the chief executive officer and other executive directors, and between the chief executive and chairman and the rest of the board. These interpersonal relationships shape individual boards and exert a strong influence on their effectiveness and harmony.

Keywords:   boards of directors, shareholders, corporate control, management, non-executive directors, chief executive officer, chairman of the board, trust, interpersonal relationships, strategic role

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