In this episode, Jim Loree, now CEO of Stanley Black & Decker, discusses the challenges of serving as a board committee chair and specifically the challenges ahead for the chairs of audit committees. Loree also shares his thoughts on how boards must be cognizant of both audit and compensation committee chair succession planning when they are in the process of recruiting new directors for the board. He also expressed his companies’ commitment to board diversity as an important board governance issue.
Kerstetter additionally asked Loree … “How has serving on someone else’s board of directors made you a better executive at your full time responsibility at Stanley Black & Decker?” The show closes with Loree looking into his crystal ball and offering opinions on what concerns him and what gives him comfort when he looks at boardroom and governance trends and their impact in the future.
Update since the time of filming: Jim Loree is no longer on the board of Harsco Corporation. He is now the CEO of Stanley Black & Decker.