Self-Interested Board Members are the Problem

There is no reason at all that shareholders would fight for GM to stay in the company. Sh*t results for a few fiscal years now, and much longer than what would be allowed from your average CEO. It makes no sense that GM has not been asked to step down.

It also makes no sense that the board wouldn't make similar demands. None. All one can imagine is that they really are there to keep their cushy board positions for as long as they all can, and quite happy to watch Medtronic go down in flames for the privilege.

This is the real concern: the board don't seem to care.

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Geoff Martha is on the board. He votes to keep himself as the chairman. It’s a huge conflict of interest.

Every GM hire has been terrible. How does the board not see that? GM has transformed his executive team into yes men (and women!) without solid industry experience, so that can't make decisions.

Board members just want quick quarterly profits at the expense of the employees and patient safety. GM is fulfilling those objectives.

Sweet Jesus you guys are whiners.

The CEO is the board chairman. Does anyone really think the board would be effective to provide directions and oversight?

It is quite obvious that the board is ineffective to provide guidance and direction because of many reasons: lack of clear objectives and directions, failure to evaluate performance of management, ineffective communication, conflicts of interests, lack of creativity and innovation, poor formulation of strategy to capture the marketplace and compact the competition, lack of vision or forward think, etc.

These boards are rarely about accountability. It is about reward handouts for the curated network of eligible board members. If you are looking for value added metrics, you will find none.

Thank the board!

Thread regarding Medtronic Inc. layoffs

Self-Interested Board Members are the Problem

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