The Board Book: An Insider's Guide for Directors and Trustees [Hardcover]

William G. Bowen (Author)

Book Description

Publication Date: April 17, 2008

A must-have for first-time and experienced board members alike, who will benefit from William G. Bowen's decades of experience.

Former Mellon Foundation and Princeton University president William G. Bowen has served on the boards of some of the United States's biggest corporations and nonprofits, including American Express, Merck, the Smithsonian, and TIAA-CREF. In The Board Book he brings his immense experience, along with the recollections and insights of numerous colleagues, to bear on the most pressing questions facing boards of directors and trustees today. His topics include the hot-button issues of the relationship between CEOs and board members, "perks," executive compensation, and CEO transitions. In addition, Bowen offers advice on the "machinery" required to run a board effectively, including the uses of committees and executive sessions, the handling of leaks, and the recruitment of new board members. Throughout, Bowen relates, with anecdotes and hard data, strategies that result in the collegiality and sense of purpose that make any board more effective.

Editorial Reviews

From Booklist

Former president of Princeton and of the Mellon Foundation, coauthor or author of more than 20 books, and a Fortune 500 corporation director, Bowen deserves to overhaul his 1994 The Board Book. In his review of board roles and responsibilities, CEO evaluations, transitions, compensation, and leadership, among other topics, he minces no words in forcefully expressing his opinions. Corporate America must pay attention to succession planning and how the CEO is paid. Board members need to be chosen not only for their background but for their courage and will to act. The lead director is an important and emerging role model to be emulated. With his words and advice exampled by such well-known corporate leaders as Hanna Gray, Thomas Neff, Larry Bossidy, and Lou Gerstner, Bowen’s facts and straightforward narrative make a compelling and critical read for wannabe directors—and for every student of corporate affairs. --Barbara Jacobs

Review

“He minces no words . . . a compelling and critical read for wannabe directors—and for every student of corporate affairs.” (Booklist )

“Drawing on thirty years of experience with both for-profit and non-profit boards, it offers insights on ideal relationships between presidential and board members. Any business library needs this.” (Midwest Book Review )

“Provocative and pragmatic . . . filled with wise counsel even for those already a CEO or member of a board.” (Paul Volcker, former chairman of the Federal Reserve ) --This text refers to the Paperback edition.

See all Editorial Reviews

Product Details

• Hardcover: 256 pages
• Publisher: W. W. Norton & Company (April 17, 2008)
• Language: English
• ISBN-10: 0393066452
• ISBN-13: 978-0393066456
• Product Dimensions: 0.8 x 6.2 x 9.2 inches
• Shipping Weight: 15.2 ounces (View shipping rates and policies)
• Average Customer Review: 4.4 out of 5 stars  See all reviews (7 customer reviews)
• Amazon Best Sellers Rank: #375,562 in Books (See Top 100 in Books)

More About the Author

William G. Bowen is the author of more than twenty books, including The Shape of the River and Equity and Excellence in American Higher Education. He lives in Princeton, New Jersey.

Customer Reviews

Most Helpful Customer Reviews

10 of 10 people found the following review helpful:

5.0 out of 5 stars A bible for the boardroom, April 1, 2008

By 

R. McCabe (Athens) - See all my reviews
(REAL NAME)   

This review is from: The Board Book: An Insider's Guide for Directors and Trustees (Hardcover)

This is a remarkable and valuable book. Remarkable in the depth and intensity of its coverage of the subject, and valuable as a road map for directors and potential directors, not to mention CEOs who may be confounded by their relationship with their boards. Bowen was a Professor of Economics who became President of Princeton University, then of the Mellon Foundation, and later Ithaca Harbors. He has been on both sides--management and director--and has broad experience in both the non-profit and the for-profit worlds. His service on the boards of several pre-eminent U.S. companies, a few of which have gone through periods of challenge and adversity, has given him unique background and experience.

We are fortunate that someone with his credentials has decided to tackle with such passion and insight the thorny and difficult issues that boards have to deal with. The approach is not that of an academic describing the structures and responsibilities of boards; rather Bowen comes with strong points of view on many of the most controversial issues. Readers (including this reviewer) are certain to disagree with some of his positions, but will have to give him high marks for fairly presenting the other side of most issues.

CEOs who want the title of Chairman may not be happy, nor aging board members, not long serving board members, nor the retired CEO who just became Chairman. But each of these players will find the materials provocative and enlightening.

What is also remarkable about this book is its underscoring how much has changed in the past 14 years in board matters. Bowen had previously authored a book on the same subject entitled "Inside the Board Room." The landscape today is barely recognizable from that of 1994. Not only has there been new legislation that encompasses and governs some board activities, but there have been as well dramatic changes in the mores of boards in the United States.

Every large investor in a public company should seriously consider this book as an early Christmas present to each member of the board of directors of his company, with maybe a label of "Urgent" on the copies for the chair persons of the nominating committee and the compensation committee!

5 of 6 people found the following review helpful:

5.0 out of 5 stars A "must" for all who care about proper governance, March 30, 2008

By 

Paul Benacerraf (Princeton, New Jersey) - See all my reviews
(REAL NAME)   

This review is from: The Board Book: An Insider's Guide for Directors and Trustees (Hardcover)

Although billed as a "how-to" book for members of governing boards of institutions both public and private, profit and non-profit - it is that - it is also much more than that. In spinning out its advice on how to discharge the complex of responsibilities that go with those positions William Bowen instructs the reader on what those responsibilities are, and in so doing, provides a deep analysis of the nature and functioning of the proper governance of so many institutions that have a deep, daily, and pervasive impact on our daily lives. It is a "must" for anyone who wants to understand a critical segment of the way our society is governed.

Although appropriately "scholarly" and well-informed, it is accessible and easy to read. If it receives the attention it deserves, we will all be better off for it.

1 of 1 people found the following review helpful:

5.0 out of 5 stars Any business library needs this, February 14, 2009

By 

Midwest Book Review (Oregon, WI USA) - See all my reviews

This review is from: The Board Book: An Insider's Guide for Directors and Trustees (Hardcover)

THE BOARD BOOK: AN INSIDER'S GUIDE FOR DIRECTORS AND TRUSTEES tells directors how to guide organizations into the 21st century in a book for any new to board membership, as well as for those seeking the latest thinking on their organization and management. Drawing on over thirty years of experience with both for-profit and non-profit boards, it offers insights on ideal relationships between presidents and board members. Any business library needs this.