Minneapolis, MN, October 01, 2011 --(PR.com
)-- The Business Law Section of the American Bar Association (ABA) recently appointed John H. Stout, Board Chair of the National Association of Corporate Directors, Minnesota Regional Chapter as chair of its 2,400-plus member Corporate Governance Committee. Stout has been a vice chair of the committee since 2008, and will serve a three-year term as chair, until August 2014. John is an officer and shareholder with the Fredrikson & Byron law firm. He chairs its Corporate Governance and Investigating Group. “Corporate governance is very much a priority for public and private companies given the events of the last several years,” Stout said. “With the financial crisis, you have people asking, ‘where were the boards when these issues started occurring and why did the boards not voice concern sooner?’ Board oversight of strategy, which entails understanding opportunity and risk, is often at the forefront of board agendas.” Additional topics Stout sees as priorities for boards are effective shareholder engagement, board composition, which Stout believes is the number one current governance challenge, board leadership, and increased regulation and enforcement.
Stout encourages business leaders to access the intellectual capital of the ABA’s Governance Committee and the NACD as resources for confronting issues facing company boards. “Ultimately the governance community, of which our members are an integral part, must use its knowledge and experience to improve the health and vitality of their companies and their boards.”
The ABA committee is responsible for monitoring developments in corporate governance and promoting dialogue regarding corporate governance within the ABA and with interested individuals and organizations domestically and internationally. The committee has 10 subcommittees and a task force, which address various corporate governance subjects.
The National Association of Corporate Directors, Minnesota Regional Chapter (NACD) (www.nacd-mn.org) is a membership organization delivering information and insights board members need to confidently confront complex challenges and enhance the mission of for-profit and non-profit enterprise they serve. With more than 365 members, NACD‟s Minnesota Regional Chapter is focused on creating more effective and efficient boards through director-led education and peer forums to share ideas and leading practices based on more than 30 years of primary research. Fostering collaboration among directors and governance stakeholders, NACD is shaping the future of board leadership. To learn more about NACD, visit NACD-MN.org. To join, please contact Judy Ferril, Chapter Administrator; Phone: (952) 955-6622; E-Mail: email@example.com