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ADVISORY/Experts Available to Discuss Separating Top Positions to Improve Corporate Governance.

Business Editors

ADVISORY...

--(BUSINESS WIRE)

TOPIC: Google Inc. announced chief executive Eric Schmidt will no longer hold the title of chairman, according to an article by the San Francisco Chronicle. Experts say the decision to separate the chief executive and chairman positions was likely made to improve corporate governance. The practice of dividing top positions is to make boards responsive to shareholders.

EXPERTS: ExpertSource can offer several highly qualified experts to comment on this story:

Chuck Pappalardo is managing director of Trilogy Venture Search, a retained executive recruiting firm headquartered in California's Silicon Valley. An 18-year veteran of the retained search industry, Chuck specializes in C-level searches and building executive management teams for venture, private equity, technology, life sciences, and professional services clients. Chuck is available to talk about economic conditions, specifically as they relate to hiring trends and hot employment opportunities, as well as such topical issues as corporate governance, character/ethics assessments, compensation/severance packages, etc. On separating top positions, Pappalardo says "Many prominent organizations are currently grappling with the responsibilities of top executives post Sarbanes-Oxley. Google's recent decision to separate the roles of the Chairman and CEO (following similar decisions by the NYSE, Oracle, and Siebel) is part of a very healthy trend. Much like the U.S. government, power needs to be dispersed so that a system of checks and balances can operate. In the late 1990s, boards became increasingly dysfunctional as stock prices soared. Those in charge often shut their eyes to corporate misdeeds in favor of cashing in." Pappalardo adds, "European companies are way ahead of the curve in this regard--there, the split arrangement is the norm." PR Contact: Renay Fanelli 415-457-7180 renay@wire-to-wire.com

Paul Maco chairs Vinson & Elkins L.L.P.'s Corporate Governance & Compliance Group and practices in the area of federal securities law and public finance. He joined the firm as a partner in 2000 after serving as the Director of the Office of Municipal Securities and as an Attorney Fellow in the Securities and Exchange Commission's Office of General Counsel at the U.S. Securities and Exchange Commission. At the SEC, Paul was responsible for leading the effort to reform the municipal bond market under Chairman Arthur Levitt, including policy development, coordination and implementation of SEC initiatives. He oversaw all Commission activity arising from the bankruptcy of Orange County, California and advised the Commission on enforcement actions, rulemaking policy, and oversight of the Municipal Securities Rulemaking Board. 202-639-6705 pmaco@velaw.com

Dr. W. Gerard Sanders is the J. Earl Garrett Fellow in Strategic Management at the Marriott School of Business and Brigham Young University. He is an expert in corporate governance (including executive compensation) and corporate growth strategies. He has studied the effects of alternative corporate governance mechanisms on firm strategy, investment, and performance. He teaches the strategy formulation course in the MBA and undergraduate programs, as well as an elective course on managing corporate growth through mergers and acquisitions. Professor Sanders' scholarly work has been published in leading management journals, including the Academy of Management Journal, Strategic Management Journal, Human Resource Management Journal, Journal of Management and Managerial Finance. He has done extensive work on top management team incentives. Professor Sanders' recent work has examined the governance and growth of emerging businesses (e.g., Internet firms), and the use of market signals to facilitate shareholder appeasement. 801-422-7607

ExpertSource cannot guarantee the immediate availability of these experts or their familiarity with this specific issue.

ExpertSource provides academic and industry experts to the media at no charge. Journalists are encouraged to submit queries to ExpertSource when seeking experts on specific subjects. An online registration form is available at http://www.businesswire.com/.
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Copyright 2004, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:May 7, 2004
Words:612
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