Manny Vargas sat at his desk, staring out his office window as the last rays of sun disappeared over the hills surrounding Los Gatos, California. As the general counsel for aerospace firm Calero Corporation, he faced a difficult predicament. Lars Neilson, Calero’s newly installed CEO, was convinced that the company’s Board of Directors should replace its self-assessment questionnaire with something better able to measure and improve Board performance. The new CEO felt that a more progressive self-assessment program—including an enhanced policy that went beyond simply words on a page—not only made for better governance but would also send a strong statement to shareholders and analysts that Calero was refocusing its businesses and practices to better align with the current market environment.
Geographic: Los Gatos, California
Industry: Aerospace Firm
Event Year Begin: 2014
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