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Article: The advisory board: a CEO's secret weapon. (Advertising Supplement: Corporate Expansion & Relocation).
- Article from:
- Los Angeles Business Journal
- Article date:
- January 20, 2003
- Author:
CopyrightCOPYRIGHT 2003 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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After recent corporate scandals, increased scrutiny and legal liability might make it more difficult to attract high caliber talent to statutory boards of directors. An attractive alternative that allows a company to tap into powerful resources without the legal implications is an advisory board. In fact, having an advisory board is like having your cake and eating it too. While an advisory board has no legal authority or formal control over the CEO, it brings all of the benefits of a board of directors and much, much more: perspective, expertise, prestige, contacts and strategic wisdom. A well-designed, highly effective advisory board can have tremendous bottom-line ...