A cook is judged by the quality of the food.
Some pension funds who don't like the quality of the cooking at underperforming companies are holding directors individually as well as collectively accountable.
But how to identify the individual lousy chefs in a crowded kitchen?
The Council's Research Service to the rescue. Using both data provided by Bud Crystal (identifying companies whose boards overpaid their CEOs relative to both longer-term and recent performance) and the Council's own data (identifying 20 Focus List companies with poor longer-term and recent performance), the CRS identified the directors of these companies and looked to see if any sit on more than one such "turkey" company board.
Six directors do:
Carol Bartz, CEO
Reto Braun, CEO
Bonnie Guiton Hill, Dean of UVA's
John McMillan, former co-chair
Dudley C. Mecum II, partner G.L. Ohrstrom
Richard Stegemeier, chairman emeritus Unocal
Turkey boards: Foundation Health, Outboard Marine
He also serves on the boards of Halliburton, Northrop Grumman and Pacific Enterprises.
Have a Happy Thanksgiving.
Sarah A. B. Teslik