The New Breed of Independent Corporate Directors

A major problem with our economy today is that the real champions of economic prosperity are not effectively exercising their clout and influence. Independent corporate directors have a higher calling - to use their influence for addressing the corporate risks that threaten the long term economic sustainability of the private sector. Job growth, education proficiency, equitable pay scales and upward mobility require private sector engagement but achievement of these objectives is hindered by corporate welfare, government dependency, misguided campaign spending, special interest crony-capitalism, victim/entitlement mentality and the rising income gap, all of which I call "tone-at-the-bottom" corporate risks. Independent corporate directors hire and fire the private sector CEOs and have oversight responsibilities for millions of businesses. They establish the compensation, incentives and disincentives for the CEOs. They impact all industries and economies around the world. Unfortunately, they allow CEOs to compete with one another for public sector favors at the detriment of the private sector causing significant sub-optimization of the economy. They need a unification principle and a pledge not to take any actions that harm the structure under which their corporations operate, i.e., the private sector. Without it, their actions or lack of actions could significantly damage the capitalistic economies that are the envy of the world. In this book, Dr. Taylor, a professional independent corporate director and product of the Detroit ghettos, discusses corporate governance best practices and pathways to secure the coveted director seats. He outlines some thoughts on how independent corporate directors, as captains of the private sector, might better carry out their fiduciary "duty to monitor." Moreover, he posits forward thinking solutions and corporate social responsibilities for independent corporate directors based on the premise that "if we don't monitor 'the-tone-at-the-bottom', we will be doomed to fall from the top" as evidenced by the economic collapses in dependency laden economies, such as Detroit, Greece and even Ancient Rome. Exclusive attention for the corporate mantra, the "tone-at-the-top" is inadequate in today's society. In fact, it harms long term corporate sustainability and the private sectors of societies. The mantra must be supplemented with the tone-at-the-bottom mindset. We cannot sit idly by while the fabric of capitalism and the structure under which our corporations operate is destroyed at the ballot box by the misinformed and disinterested. We must get our message out and sing the praises of the private sector. Please be aware that 50% of the net book sales will be donated to charity, including the Cranbrook Horizons Upward Program, a non-profit educational institution in Detroit, Michigan, that assists inner city disadvantaged youth through college preparation and career development programs.
About the Author: Dr. Taylor is a seasoned independent professional corporate director having served on publicly traded corporate boards, private company boards, non-profit boards and corporate advisory boards. He is a member of the board of directors for the National Association of Corporate Directors (SoCal). Further, he is a member of the International Corporate Directors Network (ICGN) whose members are pension funds, hedge funds, banks, insurance companies, mutual funds and other institutional investor organizations that oversee $18 trillion of corporate investments. As the co-founder and chief financial officer (CFO) of a publicly traded corporation, he routinely interfaced with the SEC, the PCAOB, the DTC and FINRA for nearly ten years. As a consulting practice leader with Deloitte & Touche, Ernest & Young and The Creighton Group, Dr. Taylor has conducted hundreds of consulting projects for numerous Fortune 500 and other companies. As an executive in the automobile and aerospace industries he had direct P&L responsibility. As a lead environmental auditor and consultant, he has conducted numerous assessments for the U.S Agency for International Development, the International Private-Public Partnership, the U.S. Environment Training Institute and the International Organization for Standardization around the world. As an educator, Dr. Taylor was an adjunct professor at several universities, including the Asian Institute of Technology (Bangkok), the Penang Development Center (Malaysia), California State University (Los Angeles) and the American College of Corporate Directors. He holds a PhD. in Executive Management from the Peter Drucker School of Management at Claremont University, a master's degree in Business Administration from Pepperdine University and a bachelor's degree in Industrial Administration from General Motors Institute. He is a Board Leadership fellow with the National Association of Corporate Directors (NACD) and a Professional Director with the Corporate Directors Group (CDG). He has held "fellow" status with Institute of Industrial Engineers (IIE), the American Production and Inventory Control Society (APICS) and the International Environment Management Association (IEMA). Finally, he earned certificates from the Global Reporting Initiative (GRI), and the University of Southern California Certified Public Accountant (CPA) program.