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13 - The Corporate Governance Officer – From company secretary to manager of governance processes

Published online by Cambridge University Press:  19 August 2009

Preston Bottger
Affiliation:
IMD International, Lausanne
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Summary

Over the last decade sound corporate governance has become a hot topic, as misconduct by senior executives rocked the business world and outraged investors. Increasingly, effective corporate governance contributes to a company's success, and the modern corporate governance officer (CGO) plays a key role in managing the process.

In this chapter, the authors outline the wide-ranging responsibilities of the CGO role. They go back to the roots of corporate governance to help us understand how the role has evolved and why there is a strong business case for sound governance structures and policies. Finally, they discuss the emerging challenges that will continue to shape the future role of the CGO.

The role of the corporate governance officer

My predecessor was a lawyer, whereas I clearly have a strong business background. I studied business, then started working in our group's headquarters and then moved on to several management positions in foreign subsidiaries. Prior to my appointment as corporate governance officer, I worked on the post-merger strategy and integration of our biggest acquisition deal ever.

The reason the board chose me is simply that our company wants the board to have a strong strategic influence and more involvement in the day-to-day business.

(A CGO whose predecessor's title was company secretary)

The 1990s saw a degree of business expansion that was unprecedented. The combination of opportunities presented by new technologies, and the vastly-increased geographical scope and freedom in capital, product and labour markets led to remarkable risk-taking by investors and executives alike.

Type
Chapter
Information
Leading in the Top Team
The CXO Challenge
, pp. 247 - 274
Publisher: Cambridge University Press
Print publication year: 2008

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References

Berle, A. and Means, G., The Modern Corporation and Private Property, (New York: Macmillan,1932).Google Scholar
Felton, R. F. and Wong, S. C. Y., ‘How to separate the roles of Chairman and CEO’, McKinsey Quarterly 4 (2004), p. 12.Google Scholar
Steger, U., ‘Beyond preventing crime – Where does corporate governance really add value?’, Perspectives for Managers, 101(2003), pp. 1–4.Google Scholar
Steger, U. and Krapf, H., Corporate Governance in Global Companies – Content not Structure as the Main Driver (Lausanne: International Institute for Management Development, 2003).Google Scholar
Steger, U. (ed.), Mastering Global Corporate Governance, (Chichester: John Wiley and Sons, 2004).
Ward, J., Steger, U., et al., Unconventional Wisdom: Counterintuitive Insights for Family Business Success (Chichester: John Wiley and Sons, 2005)Google Scholar
Steger, U. and Frigast, C., ‘Corporate governance in private equity companies: Can it add value?’, Perspectives for Managers, 122 (Lausanne: International Institute for Management Development, 2005).Google Scholar

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