The Emergence of Independent Chairmen, Lead Directors

By Harvey Pitt, former Chairman of the US SEC.

Socrates taught that “the unexamined life is not worth living.” Although a penniless philosopher who lived centuries ago, his advice has useful application in the 21st century corporate boardroom. Why is the unexamined boardroom life not worth living? For the same reasons Socrates advanced at his trial—it’s our responsibility to be independent, critical thinkers, and it’s our duty to raise and discuss challenging issues. This activity, in Socrates’ words, “is really the very best thing that a [person] can do, and life without this sort of examination is not worth living.”

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