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Brendan Wood Poll: World’s Lowest Rated Boards…Why They Fail?

March 13th, 2017 by TopGun Press

March 13th 2017

Bottom Gun Boards – Rated by Shareholders – Partial List*

Staples, Inc.
Pearson PLC
Unibet Group PLC
TNT Express NV
TalkTalk Telecom Group PLC
Hudson’s Bay Co.
Svenska Cellulosa
TeleKom Austria AG
DISH Network Corp
Stora Enso Oyj
Terex Corporation
Telecom Italia
Yahoo! Inc
Deutsche Post AG
Hertz Global Holdings
Merck KGaA
Alcoa Inc
Kellogg Co.
Volkswagen AG
Carlsberg A/S
Weatherford International PLC
Assurant, Inc.
Synovus Financial Corp.

Source: Shareholder Confidence Index, Pre-Proxy Polling Reports, 1400 Public Corporations, Global. Copyright Brendan Wood International

*Further performance information on 1400 companies available through Brendan Wood International. Disclaimer below.

Why Boards Fail?

1) Shareholder apathy to board member selection.
2) Ornamentalism
3) Subjugation to management
4) Lack of stake
5) Indecision

• Bottom Gun boards are inevitably the result of poor selections in key board roles. A board is
only as strong as its weakest links. Boards blindly elected as slates introduced by existing
management can perpetuate mediocrity or worse. Rubber stamp under-sight characterizes
Boards which don’t drive businesses.

• A qualified success can be an unqualified failure. Resumes with a history of titles do not add
up to a winning board candidate. Board members can be consummate “yes” people who have
not mastered business combat but look good on paper, especially if you don’t read between
the lines.

• When management looking to preserve its domain effectively elects a board member, the
mould of a rubber stamp Board is baked in.

• Boards exist to further shareholder interests. Their goal is to wage winning business
campaigns. TopGun Board members, in the board’s key roles, select winning CEO’s and
strategy, fostering competitive management teams. Bottom Gun Boards are often focused on
governance and empty rituals of conformity. Board members who are not at personal risk fail
the test of common interest with the owners. Salaried board ‘staffers’ who need the job are
unlikely to challenge their environment or lead with conviction. Given the real power of
Boards, it is counter productive to place people, in at least the key roles, who have not led
successful businesses and created wealth. The weaker the company the greater the need for
entrepreneurs on the Board who have turned companies around. Shareholders who elect key
role board members who will not or cannot buy the stock make an investment mistake.

• Big league decision making is a fundamental chore of a Board charged with the toughest
decisions that business demands.

“Regrettably most share owners do not even know the board members of the companies they
own. That is a primary fault of modern Boards and investors alike. TopGun investors and
TopGun Boards do not make that basic error”, says Brendan Wood, Chairman of Brendan Wood

About Brendan Wood International:

Established in 1970, Brendan Wood International is a global advisor basing its strategic and
operational advice on granular intelligence which measures current and forthcoming
transactional market share and confidence in the performance of all sizes of public companies,
banks, broker dealers and investment managers worldwide. The firm is also the managing
sponsor of the exclusive TopGun Club, which recognizes and supports individual executive and
professional members whose ‘game changer’ performance is rated in the top decile globally by
their constituent counter parties, shareholders and customers.

Related Links:

For further information on the Brendan Wood 1400 Index companies:

Jordan Novak
Managing Director
Brendan Wood International
+1 416 924 8110

Amanda Knott
Manager – BWI Panel
Brendan Wood International
+1 416 924 8110

This report contains confidential information which is the exclusive property of Brendan Wood International. Such information shall not be copied, excerpted, disclosed to others, or used for any purpose other than that for which it is expressly given, without the prior written permission of Brendan Wood International. We wish to emphasize that all reports, evaluations and assessments contained herein, represent Brendan Wood International’s subjective judgment and opinions, based on our years of experience and on information obtained by us in the course of our research. Much of the factual information contained in the reports has been obtained by us from third parties on whose responses we have relied in good faith, independent verification by Brendan Wood International being, under the circumstances, impossible. While we believe that you will find our reports to be an invaluable tool in formulating your own strategies and judgments, the foregoing should be borne in mind. Under no circumstances should any ratings or evaluations of individuals’ performances in these reports be considered as a sufficient basis for making decisions concerning the careers of individuals, including such matters as promotions, compensation arrangements, terminations, etc. This report is not meant as investment advice and should not be interpreted as advising on the value of a company’s securities, the advisability of investing in, purchasing or selling any company’s securities or any other conclusion relating to investment/divestiture of a company’s securities. Finally, this report is not intended as an offer or solicitation for the purchase or sale of any of company’s securities.

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