Recently, I spoke at a conference for CEOs. The topic was the effect of recent legislation on corporate boards. Translation: ?how Sarbanes-Oxley is going to suck the life out of your company.? At least that was the feeling I got from some of the participants.
Some of the speakers and attendees thought that the costs of compliance will force companies to go private (which it may in some cases). Others complained that few legislators understand the realities of running companies (which they often don?t). Still others worried that Sarbanes-Oxley will drag boards into too much operational detail and take the focus away from the board?s role as a strategic guide and the shareholder?s advocate (which is possible).
Jeffrey Rodek Executive Chairman of the Board Hyperion Solutions
