Tuesday, June 28, 2011

The Board Chill phenomenon- My column- 28June 2011

There are too many state enterprises. The Government must revisit the raison d'etre of state companies. We do not need separate entities for seafood development, film and entertainment; and separate rural, urban and community development companies, PSAEL and so on.


Second, in needing to bring the best talent on boards, civil lawsuits against former boards may unwittingly create a new problem. It is "board chill'' — a reluctance by otherwise qualified persons to serve on boards, fearing that the worst could come out of a change in Government. The state is entitled to hold directors accountable, now or in the future. But no one wants to be hunted and with little to gain and lots to lose, talented individuals may avoid the unnecessary headache of a state board appointment.

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