Law departments and Chief Governance Officers

In 2003, the American Management Association reported that about a third of the 52 public companies it surveyed had a Chief Governance Officer. The functions of that officer included “monitoring compliance with legislative and regulatory requirements affecting corporate governance, performing ongoing assessment of the Board’s structure and governance practices, [and] periodically auditing the Company’s compliance with its governance principles and policies.”

According to the report, which listed Ford, Hershey Foods, Baxter International, Eastman Kodak, and Motorola as having a CGO, the position typically reports to the general counsel, governance committee, or CEO. It also notes that “many are also responsible for Ethics & Compliance and serve as the Corporate Secretary.”

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