Board members of L.A.'s top companies get around. (Boards Under Fire--What do They Know?).IT almost sounds like the setup See BIOS setup and install program. to a bad joke: When might an actor, college professor, a priest, two former sports stars and the widow of a dead rock star sit in the same room? That group, along with a host of corporate executives, all have seats on the boards of L.A.'s 20 largest public companies, as ranked by market capitalization Market Capitalization A measure of a public company's size. Market capitalization is the total dollar value of all outstanding shares. It's calculated by multiplying the number of shares times the current market price. This term is often referred to as market cap. . Directors of L.A.'s largest companies hold an average of three board seats. How many is too many? That depends on who you ask, although shareholder gadflies suggest that too many directors are serving on too many beards Beard , Charles Austin 1874-1948. American historian and educator who explored the economic aspects of history in works such as An Economic Interpretation of the Constitution (1913). . "They don't have enough time to do their job," said Nell Minow editor of the Corporate Library, an information service about corporations and directors. Directors of L.A. companies with the heaviest loads include former football great Willie Davis Willie Davis can refer to different people:
All three happen to have seats on boards of troubled companies. Mitchell, with 13 directorships, is on the board of Xerox Corp, accused by the Securities and Exchange Commission of misleading investors by manipulating earnings and enriching top executives. Troubh has 12 seats, including one on the board of Enron Corp., which he joined in November, one month before the beleaguered be·lea·guer tr.v. be·lea·guered, be·lea·guer·ing, be·lea·guers 1. To harass; beset: We are beleaguered by problems. 2. To surround with troops; besiege. energy trading company filed for Chapter 11 bankruptcy bankruptcy, in law, settlement of the liabilities of a person or organization wholly or partially unable to meet financial obligations. The purposes are to distribute, through a court-appointed receiver, the bankrupt's assets equitably among creditors and, in most protection. Davis serves on 11 boards, including Kmart Corp., which filed for Chapter 11 bankruptcy protection on Jan. 22. Last week the troubled retailer announced it was delaying its annual financial results and, due to questions concerning its accounting practices, warned of a significantly wider loss than the $244 million it reported for the fiscal year ended Jan. 31, 2001. Staying focused Despite the criticism, Davis said that sitting on numerous corporate boards is not as hard as it sounds. "I'm one of those guys who has been written about several times, and invariably in·var·i·a·ble adj. Not changing or subject to change; constant. in·var  i·a·bil the words used are 'stretched' and over
'committed,'" said Davis, president and chief executive
of All-Pro Broadcasting Inc. "In truth, it's not as awesome as
it sounds. I can absolutely tell you that I prepare myself for every
board meeting, and if I reach the point where I don't feel
comfortable, I'll step down."Minow is in the process of compiling com·pile tr.v. com·piled, com·pil·ing, com·piles 1. To gather into a single book. 2. To put together or compose from materials gathered from several sources: a new rating system that aims to evaluate corporate boards and ultimately individual directors. She was reluctant to give out individual ratings, but did offer comments about a few local boards. On the positive side, Mattel Inc. received her "most improved player In some sports, a Most Improved Player award is given to players who have improved the most over the year.
Just before Eckert joined Mattel as chairman and chief executive in 2000, two directors joined the board: Eugene Beard beard, hair on the lower portion of the face. The term mustache refers to hair worn above the upper lip. Attitudes toward facial hair have varied in different cultures. , retired vice chairman of finance and operations at the Inter-public Group of Cos., and Ralph Whitworth, a principal at Relational Investors LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control in San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. . Whitworth is known for shaking up corporate boards and in past positions had pushed for performance-based executive and board compensation measures. Since Eckert's arrival, Mattel has added two new directors: G. Craig Sullivan Craig Sullivan, American Known for being an Exceptional EMS Director Currently operating a successful EMS in Boone NC]. born and raised in Ashe County NC. Currently living in Zionville NC with wife and 3 kids External links
Levi Strauss, born Löb Strauß & Co.) and Kathy Brittain White, executive vice president of e-business and chief information officer of Cardinal Health <includeonly></includeonly> Cardinal Health (NYSE: CAH) is a premier, global healthcare company dedicated to making healthcare safer and more productive. Overview Headquartered in Dublin, Ohio, Cardinal Health, Inc. . Mattel also has revised its compensation policy so that departing de·part v. de·part·ed, de·part·ing, de·parts v.intr. 1. To go away; leave. 2. To die. 3. executives will be paid the severance The act of dividing, or the state of being divided. The term severance has unique meanings in different branches of the law. Courts use the term in both civil and criminal litigation in two ways: first, when dividing a lawsuit into two or more parts, and second, when specified in pre-approved employment contracts. The move came after former chief executive Jill Barad left the company with a $40 million "golden handshake golden handshake token of gratitude bestowed on retiring employee after years of service. [Br. Pop. Culture: Misc.] See : Farewell " that prompted a shareholder lawsuit lawsuit: see procedure; tort. . Meanwhile, the board of Walt Disney Noun 1. Walt Disney - United States film maker who pioneered animated cartoons and created such characters as Mickey Mouse and Donald Duck; founded Disneyland (1901-1966) Disney, Walter Elias Disney Co. -- long criticized for its lack of independent directors -- was characterized char·ac·ter·ize tr.v. character·ized, character·iz·ing, character·iz·es 1. To describe the qualities or peculiarities of: characterized the warden as ruthless. 2. by Minow as "one of the worst boards in America," primarily because directors have not been able to link Chief Executive Michael Eisner's pay to his performance. She also criticized past decisions Disney's board has made in appointing independent directors. "Outside directors should control the nomination process," she said. "So the CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. doesn't put his kid's teacher on the board." Big name clout Corporate executives dominate the top local boards, but other connections can help gain a seat. The most celebrity-packed board is probably Metro-Goldwyn-Mayer Inc., which along with Davis, a Hall of Famer who played for the Green Bay Packers, counts Priscilla Presley Priscilla Beaulieu Presley (born Priscilla Ann Wagner on May 24, 1945 in Brooklyn, New York) is an American model, author and actress. She is the ex-wife of rock 'n' roll singer and musician Elvis Presley and mother of singer/songwriter Lisa Marie Presley. and Francis Ford Coppola Noun 1. Francis Ford Coppola - United States filmmaker (born in 1939) Coppola among its members. And while Disney has Sidney Poitier Noun 1. Sidney Poitier - United States film actor and director (born in 1927) Poitier , entertainment companies don't have a corner on the celebrity market. Countrywide coun·try·wide adv. & adj. Throughout a whole country; nationwide: launched a fundraising campaign countrywide; a countrywide search. Adj. 1. Credit Industries has basketball Hall-of-Famer Oscar Robertson Noun 1. Oscar Robertson - United States basketball guard (born in 1938) Oscar Palmer Robertson, Robertson . Another Countrywide director is Henry Cisneros, former Secretary of Housing and Urban Development Noun 1. Secretary of Housing and Urban Development - the person who holds the secretaryship of the Department of Housing and Urban Development; "the first Secretary of Housing and Urban Development was Robert C. . The political world is well represented. In addition to Mitchell, former Secretary of State Warren Christopher Warren Minor Christopher (born October 27, 1925) is an American diplomat and lawyer. During Bill Clinton's first term as President, Christopher served as the 63rd Secretary of State. sits on the board of Edison International Edison International (NYSE: EIX) is a public utility holding company based in Rosemead, California. Its subsidiaries include Southern California Edison, and un-regulated non-utility assets Edison Mission Energy, a power producer, and Edison Capital. and former California Gov. George Deukmejian Courken George Deukmejian, Jr. (born July 6, 1928) is an American Republican politician from California, the thirty-fifth Governor of California (1983-1991), and a former California Attorney General (1979-1983). is on Health Net's board. Some chief executives do double duty, serving as directors of their companies as well as other local corporations. Northrop Grumman Northrop Grumman Corporation (NYSE: NOC) is an aerospace and defense conglomerate that is the result of the 1994 purchase of Grumman by Northrop. The company is the third largest defense contractor for the U.S. Corp.'s chairman and chief executive, Kent Kresa, is a member of the board of manufacturing firm Avery Dennison Avery Dennison Corporation (NYSE: AVY) produces pressure-sensitive materials (such as self-adhesive labels), office products, and various paper products. R. Stanton Avery founded Avery in 1935. Avery Dennison Corporation was created in 1990 by merger of Avery and Dennison. Corp. Kevin Sharer, chairman of Amgen Inc., is also on the board of Unocal Corp. Edison International's chief executive, John B. Bryson, also sits on Disney's board. Other high profile CEOs hold board seats by virtue of investment. Barry Diller Barry Diller (born February 2, 1942 in San Francisco, California) is an American media executive responsible for the creation of Fox Broadcasting Company. Biography , for instance, is co-chairman of the board of Ticket-master. His USA Networks Inc. owns 53 percent of the company.
Boards Under Fire -- What Do They Know?
Board Games
Members of the boards of directors of L.A.'s 20 largest public
companies, ranked by market capitalization.
Board
Directors Seats
AMGEN INC.
Frank Biondi Jr. 9
Patricia C. Sueltz 2
Kevin W. Sharer * 3
J. Paul Reason 3
Donald B. Rice 7
David Baltimore 3
Jerry D. Choate 2
Frederick W. Gluck 4
Judith Pelham 1
Steven Lazarus 2
Gilbert S. Omenn 2
Franklin P. Johnson Jr. 4
William K. Bowes Jr. 4
WALT DISNEY CO.
John E. Bryson 6
Monica C. Lozano 4
Robert A. Iger 1
Andrea L. Van de Kamp 4
Judith L. Estrin 4
Thomas S. Murphy 3
Leo J. O'Donovan 1
George J. Mitchell 13
Sidney Poitier 2
Reveta F. Bowers 1
Robert A. M. Stern 1
Stanley P. Gold 2
Gary L. Wilson 6
Raymond L. Watson 1
Michael Dammann Eisner * 1
Roy Edward Disney 1
HUGHES ELECTRONICS CORP.
John F. Smith Jr. 7
G. Richard Wagoner Jr. 2
Thomas E. Everhart 3
Harry J. Pearce * 3
Jack A. Shaw 6
James M. Cornelius 3
Peter A. Lund 7
Bernee D. L. Strom 5
Alfred C. Sikes 2
Eckhard Pfeiffer 7
NORTHROP GRUMMAN CORP.
Ronald D. Sugar 1
Jay H. Nussbaum 5
Lewis W. Coleman 2
Charles R. Larson 3
Vic Fazio 2
Phillip Frost 7
John T. Chain Jr. 6
John B. Slaughter 3
Aulana L. Peters 3
Kent Kresa * 3
OCCIDENTAL PETROLEUM CORP.
Ronald W. Burkle 5
John E. Feick 2
John Steele Chalsty 5
Edward P. Djerejian 2
Irvin W. Maloney 1
Radolfo Segovia 1
Dale R. Laurance 3
Ray R. Irani * 3
J. Roger Hirl 1
Aziz D. Syriani 2
Rosemary Tomich 2
WELLPOINT HEALTH NETWORK
W. Toliver Besson 1
William H. T. Bush 6
Warren Y. Jobe 3
Sheila P. Burke 3
Elizabeth A. Sanders 5
Julie A. Hill 1
Roger E. Birk 2
Leonard D. Schaeffer * 3
UNIVISION COMMUNICATIONS INC.
Victor M. Ferreres 1
Emilio Fernando Azcarrage Jean 7
Juan Villalonga Navarro 2
Alejandro Rivera 1
Alfonso de Angoitia 5
Ray Rodriguez 1
Harold Gaba 1
Alan F. Horn 1
John G. Perenchio 1
Andrew Jerrold Perenchio * 1
UNOCAL CORP.
John W. Creighton Jr. 3
Charles W. Williamson * 1
Admiral Charles R. Larson 3
Timothy H. Ling 2
Donald B. Rice 7
James W. Crownover 3
Kevin W. Sharer 3
Marina V. N. Whitman 5
John W. Amerman 2
Frank C. Herringer 5
MATTEL INC.
Kathy Brittain White 3
G. Craig Sullivan 3
William D. Rollnick 1
Robert A. Eckert * 1
Eugene P. Beard 2
Ralph V. Whitworth 5
Andrea L. Rich 1
Christopher A. Sinclair 3
Harold Brown 2
Tully M. Friedman 5
John L. Vogelstein 4
Ronald M. Loeb 1
COMPUTER SCIENCES CORP.
William P. Rutledge 4
Rodney F. Chase 3
Stephen L. Baum 2
William R. Hoover 3
Van B. Honeycutt * 3
Thomas A. McDonnell 7
Irving W. Bailey II 2
James R. Mellor 8
Leon J. Level 3
F. Warren McFarlan 2
AVERY DENNISON CORP.
Bruce E. Karatz 5
Dean A. Scarborough 1
Philip M. Neal * 1
Charles D. Miller 5
David E. I. Pyott 2
Kent Kresa 3
Joan T. Bok 1
Dwight L. Allison Jr. 1
John C. Argue 3
Peter W. Mullin 3
Richard M. Ferry 4
Frank V. Cahouet 4
Sidney R. Petersen 2
HILTON HOTELS CORP.
David M.C. Michels 3
Peter V. Ueberroth 5
John H. Myers 1
Judy L. Shelton 2
John L. Notter 2
Peter M. George 4
Stephen F. Bollenbach 5
Dieter H. Huckestein 1
Robert L. Johnson 5
A. Steven Crown 2
Donna F. Tuttle 1
William Barron Hilton * 2
Benjamin V. Lambert 1
Sam D. Young Jr. 2
EDISON INTERNATIONAL
Warren Christopher 2
Daniel M. Tellep 2
Ronald L. Olson 6
Charles D. Miller 5
Thomas C. Sutton 4
John E. Bryson * 6
Joan C. Hanley 2
Carl F. Huntsinger 2
James M. Rosser 3
Robert H. Smith 2
Luis G. Nogales 4
COUNTRYWIDE CREDIT INDUSTRIES
Henry G. Cisneros 3
Gwendolyn Stewart King 6
Oscar Robertson 1
Stanford L. Kurland 1
Angelo Mozilo * 1
Michael E. Dougherty 1
Jeffrey M. Cunningham 4
Robert J. Donato 1
Edwin Heller 1
Harley W. Snyder 1
Ben M. Enis 2
PUBLIC STORAGE INC.
Daniel C. Staton 1
Marvin M. Lotz 1
Thomas Josephy Barrack Jr. 8
Bradley Wayne Hughes Jr. 1
Uri P. Harkham 2
William C. Baker 4
Bradley Wayne Hughes * 1
Harvey Lenkin 2
Dann V. Angeloff 2
Roberty J. Abernethy 1
GEMSTAR-TV GUIDE INTERNATIONAL
David Francis Devoe 8
Keith Rupert Murdoch 6
Lachlan Keith Murdoch 11
Jonathan B. Orlick 1
James E. Meyer 2
Henry C. Yuen * 1
Elsie Ma Leung 1
Douglas B. Macrae 2
George F. Carrier 1
Peter C. Boylan III 4
Charles Gordon Carey 5
Nicholas Donatiello Jr. 2
METRO-GOLDYWN-MAYER INC.
Henry Winterstern 2
Priscilla Beaulieu Presley 1
Michael R. Gleason 3
Christopher J. McGurk 2
Alex Yemenidjian * 2
Frank G. Mancuso 2
Willie D. Davis 11
Alexander M. Haig Jr. 7
Francis Ford Coppola 1
Jerome B. York 4
Krik Kerkorian 2
James D. Alijian 2
WESTWOOD ONE INC.
Maria D. Hummer 1
Joel Hollander 1
Dennis F. Holt 3
David I. Saperstein 1
Steven A. Lerman 1
Gerald Greenberg 1
Joseph B. Smith 1
David L. Dennis 2
Mel Karmazin 7
Farid Suleman 1
Norman J. Pattiz * 3
HEALTH NET INC.
Gale S. Fitzgerald 2
Bruce G. Willison 2
Richard J. Stegemeier 1
George Deukmejian 2
J. Thomas Bouchard 3
Richard W. Hanselman * 2
Raymond S. Troubh 12
J. Patrick Foley 6
Thomas T. Farley 1
Roger F. Greaves 1
Jay M. Gellert 1
TICKETMASTER
Michael Schrage 1
Alan G. Spoon 5
Barry Diller * 8
Victor A. Kaufman 5
Jon Miller 1
Terry Barnes * 3
John Pleasants 1
Allen J. Grubman 1
Bryan Lourd 1
Number of directorships could include affiliated companies
* Chairman
Source: Bloomberg LLP
** - 5 or more board seats total
Bold - 3 or 4 board seats
*[Unreadable in original source]
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