Board Responsibility Quotes

Lots of entrepreneurs don't want to be hassled by a board of directors early on. The entrepreneurs want to control the company, don't want to be responsible to a board, or don't want to waste time communicating with board members. This is a classic error of thinking about the early stage board incorrectly.

Banks need to have large shareholders on the board that have a direct interest in their performance.

If a chairman sacks the manager he initially appointed, he should go as well.

When I wear the hat of management, it is important that our management behaves and conducts as management accountable to the board.

A board of directors that cannot produce reliable audited financial statements for almost seven years simply should not remain in office.

Being on a board is not just about showing up for the meetings. A board member needs to materially contribute to the success of the business.

I can assure you I have never made decisions on my mother's behalf on her foundation's board.

If you talk to anybody who's been successful in business, they will tell you the thing that matters the most are people. And clearly, in this case, the quality of the people was not paid attention to. By the board and I don't know what they were doing. And I think there is a certain accountability by the board here.