Despite recent settlements that include millions of dollars from ex-directors, Commissioner Cynthia Glassman of the Securities and Exchange Commission urged corporate board members to continue to serve and ask "tough questions" of management.
"It's a time like no other to serve as a director," she said in Washington at a meeting of the Capital Area Chapter of theNational Association of Corporate Directors (NACD). "We need good directors for our companies and for our economy."
Glassman, one of three Republicans on the commission, said directors can help protect themselves from liability if they prepare diligently for meetings, probe why a company is doing better than its peers, and make the tough decisions to disclose bad news.
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