Dear Board members,
Acquisitions can help companies achieve their ambitious goals more quickly. However many things can go wrong in the course of a takeover. The implementation of an appropriate M&A process allows to select adequate targets, carefully plan and complete the acquisition and integrate the acquired business in a circumspect and goal-oriented manner into the company. Bryan DeBlanc speaks with Ulf Hoof, Head M&A at ABB, about the critical success factors and the important role played by the Board of Directors in this process.
In this issue, we also look at the concept of «good» corporate governance. Michèle F. Sutter-Rüdisser, from the University of St. Gallen (HSG), analyzes the collaboration between Management and the Board of Directors and looks more particularly at the asymmetry of information between both corporate bodies. Jörg Thierfelder and Michael Essner (Egon Zehnder) stress the importance of diversity in the Board of Directors’ composition and give advice in order to improve its efficiency. Andrea Abt, former manager at Siemens and member of several Boards of Directors, talks about the successes that have been achieved in the UK, where it has been decided to increase the proportion of women among Board members. Shqiponja Isufi reports on the progress made in Switzerland in this respect. Finally, Jörg Kilchmann and Karim Tejani examine the Boards’ ultimate challenge: the exercise of their duties when the company’s going concern is put at risk.
We hope that you enjoy reading this issue and wish you happy holidays and a happy new year.
Philipp Hallauer and Hélène Béguin