Directors need to restore trust and reset their goals, says Ira M. Millstein, associate dean for corporate governance at the Yale School of Management
The following is excerpted from the Ira M. Millstein's keynote address at the KPMG Audit Committee Issues Conference, presented in association with the National Association of Corporate Directors and Weil Gotshal. Millstein is senior associate dean for corporate governance at the Yale School of Management, and senior partner, Weil, Gotshal & Manges.
I've had the good luck to have lived through the Great Depression and every recession since, and I'm still here, which is the good news. However, the depression of the 1930s had a lasting impact on my attitude toward life and times. I don't suppose any of us who lived through it ever fully recovered enough not to worry about money, jobs, and all the rest, no matter how we otherwise made out in life.
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