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What differentiates an efficient CEO-board chair relationship? According to a Spencer Stuart study of almost 200 directors and 30 CEOs of S&P 500 business, trust is the most important element. Chairs and CEOs develop trust over time by being susceptible, open, and transparent about their expectations and obstacles — especially in 5 minutes: 1) when workingout CEO payment; 2) throughout the yearly CEO assessment; 3) when providing feedback from executive sessions of the board; 4) when boards thinkabout their own structure and succession; and 5) in minutes of difficulty.
Over the past years, a growing