Corporate Governance: The Jack Wright Series (a): Board Selection and Organization

Abstract

Jack Wright, CEO of Dryden Corporation, led his company to strong growth and profitability levels during the previous 10 years. Now he has been approached to join the board of directors of the Mega Corporation. The case requires students to consider the pros and cons of board membership and to decide whether they would recommend Wright join the board. This updated case is the first case study in a series of cases on corporate governance. It is meant to replace UVA-OM-1083. It is used in Darden's "Corporate Governance" elective.

Excerpt

UVA-OM-1514

Aug. 5, 2014

CORPORATE GOVERNANCE: The Jack Wright Series (A)

Board Selection and Organization

Introduction

Jack Wright, 55, the CEO of Dryden Corporation (Dryden), which was located in the Midwest, had led his company to strong growth and profitability levels during the previous 10 years. He headed a group of local investors who bought controlling interest in Dryden when it was floundering from mismanagement, product obsolescence, and foreign competition. Currently, he personally owned 10% of the stock.

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Keywords: board selection, board nomination, conflict of interest, nominating process