ORANGE, Calif., Oct. 6, 2005 (PRIMEZONE) -- The Forum for Corporate Directors (FCD), a leading resource of corporate Board excellence, today announced the results of a 2005 survey of Orange County corporate directors.
More than 100 directors of Orange County public and private companies responded to the survey, which assessed their opinions on critical board issues, board size, director compensation, director education, board self-assessment and time spent by directors in fulfilling their board duties.
"Corporate scandals of the recent past and the resulting legislation have significantly changed the landscape of corporate governance and what constitutes best board practices," said Peter Craig, FCD Chairman. "After two years, now is a good time to assess how today's boardrooms are operating, particularly in Orange County."
Among other findings, the 2005 Survey revealed:
-- While both public and private company directors ranked corporate
performance and valuation and strategic planning as two of the top
issues facing their boards, they differed in ranking the importance
of other issues.
-- Public company directors ranked regulatory compliance as an
important board issue, whereas private company directors indicated
that CEO succession and risk oversight were of critical importance.
-- Public corporations relied more heavily on their nominating
committees as a source for new director appointments, and private
companies overwhelmingly relied heavily on the CEO for identifying
potential board candidates.
An executive summary of the report is available online at www.fcdoc.org. In addition, a detailed report of the FCD survey is available by request.
About the Forum for Corporate Directors
FCD is a professional, non-profit organization attracting the elite of the Orange County business community. The Forum for Corporate Directors promotes high corporate ethical standards and best governance practices among corporate leaders. The organization offers a variety of opportunities for director peer interaction, enhancing corporate director effectiveness through quality education and timely development programs. Members include Powerwave Technologies, etc., etc. For more information about FCD and its programs, click on www.fcdoc.org.
About the FCD Corporate Membership Program
Established in 2003, FCD's corporate membership program allows boards of directors of publicly held and substantial privately held companies to enhance the effectiveness of their governance capabilities. Corporate members of FCD include Advanced Medical Optics, Alacer Corp., DPAC Technologies, Emulex Corporation, Multi-Fineline Electronix, Microsemi Corporation, New Century Financial, Powerwave Technologies, Qlogic Corporation, Resources Connection, and SRS Labs. One last run at this (promise!), would simply list these companies as members of FCD per above, rather than talking about our CM program.