February 15, 2017
Monthly Board Agenda: Should our Board have a separate Chairman and CEO?
Comptroller of the Currency Curry recently stated that the OCC is considering requiring its banks to separate the Chairman role from the CEO role. This question has been in the limelight for years. Here are three questions to consider:
- Are we satisfied with the current structure?
- Does our shareholder base support the current structure or are there fractures in the support?
- Is another structure more beneficial such as retaining the structure of having one person serve in both roles but creating and appointing a lead director with clear authority to act independent of the Chairman-CEO?