Who captains the ship: The CEO or the Board?

Tuesday, 21 August 2012 00:59 - - {{hitsCtrl.values.hits}}

“Having more than one captain is a recipe for disaster. By ‘Captain’ I mean the person who operates the company on a day to day basis. As per the governance framework, it is the CEO who runs a company and not the shareholders or the Board. The Board meets only once a month or once a quarter and cannot run a business entity on a day-to-day basis,” said United Motors Chairman Ranjit Fernando, referring referred to the role played by a Chief Executive Officer at a CEOs Forum organised by the Sri Lanka Institute of Directors (SLID) recently.