The boards of many companies ruin corporate prospects and lose money for shareholders, according to a continuing investigation at the University of Lincoln. Speaking at a conference on corporate governance, Professor Colin-Coulson Thomas, author of ‘Shaping Things to Come’ argues that boards need to think and act differently if they are to improve their own performance.
“Despite codes of governance best practice the boards of many companies still miss opportunities, cripple corporate prospects and destroy shareholder wealth,” says Professor Coulson-Thomas, “They are looking over their shoulders at others, copying and playing catch up rather than shaping the future”.
The Professor warns than corporate governance considerations can lead to an excessive focus upon internal processes while external opportunities are overlooked. “Corporate performance appears to depend primarily on what boards actually do and how their members behave rather than on formal governance considerations such as a board’s committee structure.”
Coulson-Thomas believes: “If boards are to add more value, make a greater contribution to corporate growth and create a better tomorrow they may need to challenge conventional thinking and question current practices.” His book ‘Shaping Things to Come’* is designed to challenge traditional thinking and help entrepreneurs create distinct offerings, establish new markets and provide customers with additional choices.
The Professor delivered his message at the Seventh International Conference on Corporate Governance organised by the World Council for Corporate Governance. The theme of the conference was the selection, training and appraisal of company directors.
*‘Shaping Things to Come, strategies for creating alternative enterprises’
Professor Coulson-Thomas is an experienced chairman of award-winning companies and Professor of Direction and Leadership at the University of Lincoln. He has helped over 100 boards to improve board or corporate performance, is the author of some 40 books and reports and has spoken at over 200 major conferences in approaching 30 countries. He can be contacted by Tel: 00 44 (0) 1733 361 149; Fax: 00 44 (0) 1733 361 459; email: colinct@tiscali.co.uk and via www.coulson-
