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02/24/11 10:11 PM

#50386 RE: bylosellhy #50384

Did I miss something..........All members of the board are responsible for advising the the CEO for the good of the company.

ValuePro

02/25/11 12:05 AM

#50393 RE: bylosellhy #50384

About this "advice" Colonel Vollmer brings to the board. Non-executive directors are most often chosen because of the connections they bring, and little more.

For instance, you are not likely to find an automotive executive/board member appointed to the board of a pharmaceutical company. However, you may find an auto executive or board member appointed to the board of an auto parts manufacturer.

Similarly you are not very likely to find an officer/board member of a sporting goods manufacturing company appointed to the board of an aerospace company. But you may find an officer/board member of a sporting goods manufacturer appointed to the board of a chain-type sporting goods retailer.

So, think about board members in terms of synergies. That would be access to strategic alliances or partnerships, markets, financial resources, etc. Then, only in regards to these things can a board member be described as being appointed to advise the CEO/Chairman. It's like, "Here's my friend, Joe Dollars, CEO of Hungry Energy Company. I 'advise' you to talk to him."

The appointment of a company CEO or President is a different matter. At this level, it's the executive experience that counts. Hence, the former president of Pespi Cola was once CEO of Apple Computers, but you are not likely to find an officer or board member of Pepsi as a simple board member at Apple.

What I'm saying is, and in my opinion, Colonel Vollmer brings more to the table than the great advice he can offer out of his extensive business background. I think, too, we will understand why his appointment came into being only when related news is released that will graphically explain it. I would think, however, that clues are in his curriculum vitae.

FWIW

VP in AZ