Avoiding the Underperforming Board: Expecting More from Corporate Directors

The Conference Board of Canada, November 25, 2015
Recorded Webinar
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Most corporate boards continue to struggle with the challenges of underperformance, which, among other things, frequently leads to managerial change, asset and financial restructurings, mergers, shareholder activism, a change of control, the sale of the company, or even outright failure. So what are the warning signs of underperformance? Can failure within the context of director responsibilities and influence be predicted and prevented?

During this one-hour discussion, prominent Alberta Chairman, Director and business leader, Mac Van Wielingen, will expand on his article “The Evolving Role of the Corporate Board: Governance Strategy and the Imperative of Performance” which is featured in the inaugural issue of the Conference Board’s Stewardship Review.

Mac argues that far too often governance focuses on a compliance-based role, where boards are concerned only with the structures and processes used to minimize the adverse impacts of management and director self-interest. Although this form of governance is essential in creating legitimacy, companies cannot rely on compliance-based governance alone to effectively sustain superior performance within an organization. Mac argues that in order to be truly transformative, corporate governance needs to expand its focus in the direction of performance.

Mac will outline three forms of governance—social-based, strategy-based, and performance-based—that, when implemented, will reshape your board’s engagement and drive effective performance and results. This comprehensive view of governance has the potential to significantly enhance the role of the board to the benefit of stakeholders and society.

Webinar Highlights

As part of our Governance Webinar Series, we are pleased to have Mac highlight:

  • Ways boards of directors can build an informal system of norms and guidelines governing how directors show up and behave in exercising their fiduciary responsibilities.
  • Ways to effectively bring forward, integrate, and actualize strategy as a form of governance.
  • Ways to identify and monitor progress against outcomes that are determinative of financial and other essential goals,

About Mac

Photo of Mac Van WielingenMac Van Wielingen is a founder and director of ARC Financial Corporation, a private equity investment management company focused on the energy sector in Canada with approximately $5 billion of capital under management. He is also Chairman of the Board of Directors of ARC Resources Ltd., and Chairman of the Board of Directors of Alberta Investment Management Corporation, one of Canada's largest and most diversified institutional investment fund managers. He is President of Viewpoint Capital Corporation, a private family-owned investment company, and President of Viewpoint Foundation, a private charitable foundation, and a co-founder and Chair of the Canadian Centre for Advanced Leadership at the Haskayne School of Business. He is a past director of numerous companies in the energy sector, and is active in various capacities in the community and the not-for-profit sector. Mr. Van Wielingen is an Honours graduate of the Ivey School of Business in finance and has studied post-graduate economics at Harvard University.

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