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Boards of directors have potentially all power, they just need to exercise it.

The board does not have the information that it needs to exercise effective control of a large company. Hell, upper management does not normally have adequate information to exercise effective control of the large company.

The fact that it possesses the formal prerogative to exercise control is about as relevant as the Queen of England's prerogative to appoint the Prime Minister.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Mon May 24th, 2010 at 07:25:16 PM EST
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