On Tuesday May 17, 2016, Stratis managing partner Brian Stoeckert attended the National Association of Corporate Directors (NACD) Southern California Chapter’s event on “Harmonizing Goals of Outside Directors with Management Teams.”
The session was an interview with Ron Sugar, the former Chairman of the Board and Chief Executive Officer of Northrop Grumman from 2003 until his retirement in 2010. In addition, Mr. Sugar serves as a director of Apple Inc., Chevron Corporation, Amgen Inc., Air Lease Corporation and serves as senior advisor to the private investment firm Ares Management LLC, Bain & Co., and Singapore ‘s Temasek sovereign wealth fund.
The session was moderated by Rafael Pastor, whom serves on the Boards of KinderCare Education, insureWell, Boost Academy and RosettaBooks, as well as on the Advisory Boards of MD Revolution and Thuzio. He also serves as an Advisor to a major international private equity firm, to Vistage International, and to Sonenshine Partners.
Among the topics discussed were the roles of a director, how this is separate from the day-to-day operations of management, the differences between the role of private equity and public companies, social and community responsibilities of a company, how to effectively communicate with other board members and the CEO, how good debates on the board are a positive contribution, director evaluation, compensation, and finally, that the personal risk of directors are at their highest levels they have ever seen – considering their track record in executive management and leadership this speaks volumes to current market conditions.