The past decade has seen a sea change in Board room operations, driven by statute (Sarbanes-Oxley and Dodd-Frank, of course), SEC regulation, stock exchange rules and rapidly evolving best practices (ISS, activist stockholders, etc.). As a result, Boards are now far more sophisticated and business-like than in the old days. A frequently overlooked consequence of this shift is that Board-related expenses have increased and diversified.

READ MORE