The University of Chicago Graduate School of Business, Stanford Law School and the Wharton School of the University of Pennsylvania have joined together for the first time to offer a three-day intensive program for corporate directors and senior executives to explore the fundamentals of corporate governance and board service.
The first annual Directors' Consortium will be held August 21 to 23 in Chicago and will feature leading faculty from the three schools plus outside experts.
In this post-Enron environment, being a well-prepared board member is more important than ever. The Directors' Consortium is intended to help attendees evaluate the role of directors in strategy development, and understand the questions board members should be asking management about financing, disclosure, governance, succession planning, and compensation.
Sessions also will cover what audit committee members should know about revenue recognition, off-balance sheet financing, and accounting methods and disclosures.
Sessions on legal foundations for corporate governance and implications for board procedures will feature presentations by law professors Joseph Grundfest from Stanford and Richard Epstein from the University of Chicago.
Robert E. Mittelstaedt Jr., vice dean of executive education at Wharton, will lead the session on board policy and strategy, while Elizabeth Bailey, professor and chair of the business and public policy department at Wharton, will discuss planning and execution for CEO succession.
The session on audit committee qualifications, responsibilities and content will feature Katherine Schipper, a board member of the Financial Accounting Standards Board, and Roman L. Weil, an accounting professor at Chicago GSB.
David Larcker, a Wharton accounting professor, will discuss compensation committee issues, while Joseph Grundfest of Stanford and Richard Epstein of Chicago will explain what to do when litigation strikes.
The various aspects of corporate finance that board members should know will be covered by Steven Kaplan, a professor of finance and entrepreneurship at Chicago GSB and Steven Koch, vice chairman of Credit Suisse First Boston.
In future years, the location of this annual program will rotate among Chicago GSB, Stanford Law School and Wharton.
The registration fee for the Directors' Consortium is $4,950 and includes tuition, books and instructional materials, lunches, and coffee breaks.
The University of Chicago Graduate School of Business is one of the oldest and largest business schools in the world. It offers full-time and part-time MBA programs, a PhD program, and open enrollment executive education.