How Boards Work - by Dambisa Moyo (Hardcover)

About the Book

"Corporate boards have never been under greater pressure. Scandals and malpractice at companies like Theranos, WeWork, Uber, and Wells Fargo have raised serious, justified questions about the quality of corporate governance among regulators, shareholders, and society at large. Activists are pressing corporations and their boards to assume new responsibilities on issues from pay equity to climate change. A global pandemic and a profound economic crisis have only accelerated a mounting backlash against globalization and capitalism itself. In How Boards Work: And How They Can Work Better in a Chaotic World, prize-winning economist and veteran corporate director Dambisa Moyo offers an insider's view of corporate boards' struggles to meet the challenges of our perilous times. Boards, she argues, must take bold steps to reform their practices and exert far stronger leadership if global corporations hope to survive the perilous years ahead. Many people-including even many shareholders and executives-understand little about what boards do, how they work, and the fiduciary responsibilities they must fulfill. Drawing on Moyo's decade of experience serving on corporate boards, How Boards Work takes readers inside corporate board rooms as boards face ever-louder demands to broaden their traditional mandate-choosing the CEO and endorsing corporate strategy-by weighing in on questions of racial and gender equity, data privacy, and other cultural and social issues. It describes how the challenges facing boards will only grow in the coming decade as globalization ebbs, short-term thinking dominates investor behavior, and competition for talent becomes more intense. Corporations must fundamentally rethink how they do business, Moyo argues, and boards must equip themselves to lead the way through a radical program of modernization. Corporations need boards that are more transparent, more knowledgeable, more diverse, and much more deeply involved in setting the strategic course of the companies they lead. The survival and success of global corporations is crucial to the global economy. How Boards Work offers a road map for how boards can steer companies through tomorrow's challenges and ensure they can thrive to the benefit not only of their employees and shareholders but also that of society at large"--

Book Synopsis

A New York Times bestselling author and veteran board member offers an insider's view of corporate boards, their struggles, and why they must adapt to survive.

Corporate boards are under great pressure. Scandals and malpractice at companies like Theranos, WeWork, Uber, and Wells Fargo have raised justified questions among regulators, shareholders, and the public about the quality of corporate governance. In How Boards Work, prizewinning economist and veteran board director Dambisa Moyo offers an insider's view of corporate boards as they are buffeted by the turbulence of our times.

Moyo argues that corporations need boards that are more transparent, more knowledgeable, more diverse, and more deeply involved in setting the strategic course of the companies they lead. How Boards Work offers a road map for how boards can steer companies through tomorrow's challenges and ensure they thrive to benefit their employees, shareholders, and society at large.

Review Quotes

"How Boards Work is a detailed explainer of how corporate boards at listed companies operate, describing how often they meet and how chief executives are selected."
--Reuters

"Highly instructive for aspiring non-executives...provides thoughtful analysis and reform."--Financial Times

"A highly useful primer for investors and board members alike."--Kirkus

"How Boards Work is exactly what any prospective--or sitting--board member needs to understand the true rigors and realities of board life. Having seen it all, Moyo offers valuable guidance on how boards can best focus their time and energy while grappling with social, governance, and environmental issues."--Arianna Huffington, founder and CEO, Thrive Global, and former board member, Uber

"How Boards Work offers a thorough and nuanced take on the ever-evolving role of corporate boards today. Moyo provides a candid assessment of the challenges and opportunities that directors face and wisely warns of the dangers of stasis. The book is not only a must-read for the most tenured and experienced board members, but it also provides critical context to those who one day hope to have a seat at the table."--Mellody Hobson, co-CEO, Ariel Investments; chair of the board of directors, Starbucks; board member, JP Morgan; former board chair, Dreamworks; and former board member, Estée Lauder

"Boards have incredible power to impact how companies and their stakeholders meet the challenges of the modern age. But boards are complex and living organisms that require more than just getting smart people in a room. Dambisa Moyo's book, informed by real-world experience in negotiating complex situations, should be a must-read for any board that wants to excel and have an impact today."--Dan Loeb, founder and CEO, Thirdpoint, and former board member, Sotheby's

"Drawing on her direct involvements on several boards of companies facing difficult decisions, as well as her global economic expertise, Moyo has written an indispensable guide to how boards function, malfunction, and, most importantly, should operate better."--Mohamed A. El-Erian, president of Queens' College, Cambridge University; board member, Under Armour; and author of The Only Game in Town and When Markets Collide

About the Author

Dambisa Moyo is a prizewinning author of the New York Times bestsellers Edge of Chaos, Winner Take All, and Dead Aid, and she was named one of the "100 Most Influential People in the World" by Time magazine. Moyo regularly contributes to the Wall Street Journal and Financial Times. She lives in New York City and London.