Being a director is an honor and a responsibility. An honor because it recognizes the individual’s business accomplishment and the value he or she can bring to an organization in providing oversight. Directors also take on a heavy responsibility to use their judgment to serve the interests of shareholders.
“When you join a board, you put your reputation on the line,” said Craig J. Duchossois, CEO of the Duchossois Group, a privately held company. “Do your due diligence on the company. Does the company share your values? Talk to management, other board members, employees, customers and the community.” He made his remarks in a panel on Private Company Boards at a Chicago NACD meeting. Continue reading