The roles of boards of directors have changed dramatically in the past few years, a trend destined to continue in the future. Years ago, membership on a typical large corporation board was viewed as an honorary position with few responsibilities and a chance to get away from the office to socialize with peers. Today, more and more boards are asserting firm authority over corporate governance.

In this chapter we discussed reforms that have been suggested for more effective board governance. The successful implementation of these reforms will improve corporate governance and raise public confidence in the leadership of corporations.