It turns out there is some stuff that they don’t teach you in business school, and that you have to catch up on later, in your own self-directed continuing studies program. Corporate governance is one of those things. Luckily, I just read a book about corporate governance that isn’t a dry, legalistic tome about procedures and standards, but an account from the trenches of real board experience: Behind Boardroom Doors: Lessons of a Corporate Director, by Betsy Atkins.
You can read my review here. The chapter I found most engaging is “My 16 Days on the HealthSouth Board”, adapted from an essay you can read here, as good an account of crisis management as I’ve ever read. If you have an interest in matters of corporate governance, and perhaps you’re just starting out as a board director, reading this book will be like going to dinner with a very experienced director and getting all the precious nuggets from her. Enjoy it!