THE BOARD OF Umpqua Holdings Corp. in Portland, Oregon, schedules its annual retreat nearly a year in advance. Directors and members of the executive team spend months careully choreographing a program of presenters and reviews aimed at making board members full partners with management as they contemplate together the long-term strategy challenges facing the company.
It's a big effort. But when pretty much the entire agenda was scrapped just weeks before last October's gathering, there was little, if any, dissent from directors. The reason was simple: Just as the date approached, the impact of the subprime mortgage crisis and related housing-price implosion was becoming clear. …
Комментариев нет:
Отправить комментарий