The Smile Factor: A Potent Boardroom Tool
Diversity of opinion, frank feedback, aggressive management and oversight that creates shareholder value. Ideal qualities for a board of directors, right? He says their recent findings show that the most sought-after U.S. corporate board members are those who curry favor with fellow directors, not those who are active in standing up for shareholders or taking the strongest positions with respect to oversight. "In fact, the findings indicate that directors who engage in monitoring and control behavior are effectively punished in the director labor market," says Stern, who, along with Westphal, has produced "Flattery will get you everywhere (especially if you are a male Caucasian)."