CHICAGO, June 1, 2012 – A new research paper by Ferguson Partners Ltd., a global executive recruitment consultancy, reveals significant changes in Board attitudes and priorities in the wake of the 2008 financial meltdown.
Based on the feedback from 12 chairmen and lead independent directors from organizations in real estate, mortgage finance and related sectors (homebuilding, restaurants, hospitality and healthcare),
Boards are looking to change this structure to include more members with hands-on industry experience. In addition, the research shows a trend in preference toward smaller boards of no more than seven to nine members.
“When looking back at the financial meltdown and the economic recession of 2008-09, one of the primary issues centers on the seeming lack of board oversight of the companies that were taking massive balance sheet risk like Lehman Brothers, Bear Sterns and AIG”, said Bill Ferguson (top right photo), Chairman and Chief Executive Officer of Ferguson Partners Ltd.
“In doing this research, we have gained a better understanding of not only what organizations have learned since 2008, but more importantly, what they are doing now to put the right processes and people in place to avoid future catastrophic outcomes.”
For a complete copy of the company’s news release, please contact:
Amy Smolensky
(312) 485-0053
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