The Buck Stops ..?
Dinner last night with a Distinguished Person, until recently a non-exec of a la-arge British bank.
ND: Remarkable how everyone seems to get swept along in the enthusiasm when things are booming, with little regard for due diligence or even common sense ...
DP: Well, everyone's under considerable pressure to say 'yes', everyone's got an interest in approving things.
ND: Isn't this where, err *delicately* the non-execs come in ?
DP: No, it can only be the Chairman, everyone else has a vested interest.
* * * * *
Aah. I see.
ND
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2 Comments:
so er, what is the purpose of NED's?
Fig-leaves only....
As Ken Morrison once said, a NED is less use than a supermarket trolley with a wonky wheel - at least the trolley as a mind of its own!
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