NACD Director Education Program Sees Record Attendance Amid Financial Reform Legislation and SEC Proxy Access Rules

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National Association of Corporate Directors

Sep 02, 2010, 08:30 ET

Sessions Discuss Leading Board Practices in Face of Dodd-Frank Act, New Proxy Access Rules and More Rigorous Corporate Environment; Continental Airlines Director Karen Hastie Williams Keynotes

WASHINGTON, Sept. 2 /PRNewswire-USNewswire/ -- With the recent financial reform legislation and last week's Securities Exchange Commission (SEC) proxy access meeting leaving many directors with questions about the impact of the new laws and regulations on boardroom activities, more than 100 public company board directors attended the National Association of Corporate Directors' (NACD) Director Professionalism® course in Laguna Beach, California on August 24-25. The gathering – consisting primarily of public company directors – delivered important guidance for board members to navigate the new system and focus on communicating their strategic value to their shareowners.

The impact of the new legislation and regulations was a central theme of the course, led by top governance experts and directors of leading global corporations. Issues ranging from communicating with shareowners, nominating and governance committee processes, executive compensation and board composition were addressed in light of the changing landscape. Directors were also provided with actionable guidance to help advance exemplary board leadership in each of these areas. NACD also unveiled its Template for Disclosure of Director Skills and Attributes, a practical proxy disclosure resource that enables corporate boards to clearly articulate how board composition is linked to shareholder value within the context of unique skill sets, experiences and the strategic value they bring to their boards.

"The record turn-out of this past Director Professionalism course underscores the growing need for real-time education in light of today's rapidly evolving business and regulatory environment," said Kenneth Daly, President and CEO of NACD. "Today's corporate directors are under enormous pressure to maintain focus on their company's strategic goals and recognize the need for something beyond a 'check the box' approach to board oversight. NACD programs arm them with the tools and insights necessary to take a proactive role in developing leading board practices."

Attendees heard from Karen Hastie Williams, who shared her experience as a 12-year veteran of Continental Airlines' Board of Directors and its role in shaping the culture of the newly formed United Continental Holdings, Inc. Hastie Williams advised directors to better understand the companies they serve by listening and being proactively involved with the operational team as well as management. According to Hastie Williams, "it's important for board members not to be in an ivory tower and to demonstrate that they value what operational people do in their day-to-day work to further the airline's commitment to excellence."

Ms. Hastie Williams, who is also a member of the board of NACD, shared her view that CEOs today must be more hands-on and accessible compared with 10 or 15 years ago and also commented on what she thinks will be the hallmark of the board for the new airline, post-merger. "I imagine Glen Tilton, the Chair of the new board will be looking for board members who can work well together and disagree without being disagreeable . . . Led by the principles and practices that have delivered excellent customer service at Continental, the new company can create the kind of frequent flyer loyalty that will positively impact profits and create long-term shareowner value."

"In an age of public mistrust, board performance is more critical than ever," said participant Dennis Roche a board member of Medical Mutual of Ohio. "Through the NACD Director Professionalism Course, directors learn the complexities of their role and the tools for delivering value to their shareholders."

Participants of the program were fully prepared to debate and discuss legislative change and emerging issues with peers through access to podcast briefings on the Dodd-Frank Act, proxy access and proxy plumbing conducted by NACD prior to arrival. Materials are part of this comprehensive, two day course that is nationally recognized for providing the educational grounding required for effective directorship. Director Professionalism is essential for directors new to public company boards and for all directors committed to boardroom excellence. The course is required as part of NACD's Governance Fellowship program.

The Director Professionalism curriculum consists of the highest quality corporate governance content, backed by research findings, leading practices, faculty and peer expertise, current regulatory requirements, and annual recommendations of the NACD Blue Ribbon Commissions. The program is highly interactive, facilitating a valuable exchange of knowledge among peers.

The next Director Professionalism course will take place December 6-7 in Tampa, FL. For more information please visit NACDonline.org/dp or call 202-572-2088.

NACD is also preparing for its annual Corporate Governance Conference in Washington, D.C. on October 16-19. More than 700 directors and executives from publicly traded companies including Caterpillar, FedEx, Boeing, Lockheed Martin, Royal Dutch Schell, Jet Blue, etc. will gather to expand their director networks and gain new insights from sessions including: The SEC Agenda for 2011 with Chairman Mary Schapiro; Crisis Communications: The Board's Role; Performance Metrics That Make a Difference; Audit Committee Effectiveness: Tasking the C-Suite; and Courageous Board Leadership. For more information about each session and to view the full conference agenda, visit NACDonline.org/conference.

About NACD

The National Association of Corporate Directors (NACD) is the only membership organization delivering the information and insights that corporate board members need to confidently navigate complex business challenges and enhance shareowner value. With more than 10,000 members, NACD advances exemplary board leadership. NACD is focused on creating more effective and efficient boards through director-led education and peer forums to share ideas and leading practices based on more than 30 years of primary research. Fostering collaboration among directors and governance stakeholders, NACD is shaping the future of board leadership. To learn more about NACD, visit NACDonline.org.

SOURCE National Association of Corporate Directors