On February 21, 2019, CEOWorld magazine published an article I wrote on “Executive Service on Corporate Boards of Directors – Benefits, Liabilities and Compensation” The magazine advised me that I can use “Featured in the CEOWOLRD magazine” and the CEOWORLD “Logo” on my website.
This article is designed for CEOs and other senior executives offered the opportunity to serve on corporate Boards of Directors in your own company and particularly in other companies.
This article discusses the benefits that Board of Director service can offer to an executive to advance his or her career, including the following:
- Stock, options and other compensation that can be quite lucrative,
- Opportunities to network and learn from peers,
- Observation of other organizations manage their affairs,
- New source of information (in your own company or in business generally),
- Source of new contacts to take the next step up the career ladder.
The articles also discusses pitfalls and potential liabilities of Board service including the significant responsibility to oversee management of the business, due diligence expected to review the transactions before it and record those deliberations, and the fiduciary duties Board members owe to the shareholders so it is important to assure proper care and diligence, and also insurance coverage.
To see my full CEOWorld magazine. article, go to LINK: https://ceoworld.biz/2019/02/21/executive-service-on-corporate-boards-of-directors-benefits-liabilities-and-compensation/
or on my website at https://www.executiveemploymentattorney.com/articles-section/board-of-directors-service/
With more than 12.4+ million-page views, CEOWORLD magazine is the world’s leading business magazine written strictly for CEOs, CFOs, CIOs, senior management executives, business leaders, and high net worth individuals worldwide.
It is my hope that this article will be helpful to CEOs, other C-Level and senior executives who are offered the opportunity to serve on their own or other corporate boards, and need to pay attention to both benefits and pitfalls of Board service. If you or any colleague of yours has a need in this area, please do reach out to me at radelson@engelschultz.com.
About Robert Adelson, Esq.
Robert Adelson has been a corporate and tax attorney since 1977. He began as an associate at nationally prominent New York City “mega” law firms, first at the Wall Street firm Dewey Ballantine Bushby Palmer & Wood and later at the Park Avenue firm Weil Gotshal & Manges. In 1985, Adelson returned home, where he has since established himself as a respected Boston business attorney. He has attained partner at several small and midsize Boston law firms, most recently at Lawson & Weitzen LLP and then Zimble Brettler LLP, where he was a partner from 1994 to 2004 before becoming a partner at Engel & Schultz LLP.
