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Corporate Governance and The Role of the Governance Officer

By Robert B. Lamm
August 19, 2003

A French acquaintance recently commented that my job is very ” la mode.' She was not referring to ice cream; rather, she was suggesting that the role of the corporate governance officer is very trendy. There certainly has been a lot of media buzz about corporate governance in recent months, including reports that a growing number of public companies have designated governance officers. However, neither corporate governance nor the role of the corporate governance officer should be viewed as a fad that will soon pass from the scene. The effort to achieve and maintain good governance is here to stay; there is much evidence that the corporate and investment establishments are creating permanent infrastructures to develop, evaluate and continuously improve governance practices.

That said, the meaning of the term 'corporate governance' and the role of the governance officer are unclear ' and both are rapidly evolving, creating uncertainty as to what both are all about. The purpose of this article is to provide some insights into corporate governance and the functions of the corporate governance officer.

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