Public Company Lessons for VC Directors on VC-InsideOut

Vcio_logo2_2 The third episode of the VC-InsideOut Governance Series is now available on the VC-IO site.  Our guest is Professor Pastora Cafferty, an experienced public company director who currently serves on the boards of Waste Management, People’s Energy, Harris Financial, and Kimberly Clark.  In the non-profit world, she serves as a director of Rush University Medical Center and the Lyric Opera of Chicago. 

In addition to being a professor emerita of the School of Social Service Administration at the University of Chicago, Pastora has done some pretty interesting things in her career.  A native of Cuba, she has been a White House Fellow, Smithsonian Research Fellow, and a Wall Street Journal Fellow and has written on race and ethnicity in the U.S. 

As a long-serving public company board member, Cafferty offers her perspective on questions of board compensation committee independence and the continuing options back-dating scandal.  She comments on the transformation of board leadership in public companies post SarbOx, the limits of compensation committee authority, the need for close interaction between the audit and compensation committees, and the importance of timely, formal CEO reviews.

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