When governance nerds hear the term “public employee pension fund”, they may think of CalPERS or CalSTRS, the California giants. However, Florida has its very own State Board of Administration, which manages not only our public employee funds, but also our Hurricane Catastrophe Fund. I’m a big fan of the governance team at the Florida State Board; I don’t always agree with their views, but they are smart and fun and a pleasure to talk to.
The Florida State Board has just published an interesting – and mercifully brief – report on over-boarded directors – i.e., men and women (OK, usually men) who serve on too many boards. The report, entitled Time is Money, is subtitled “The Link Between Over-Boarded Directors and Portfolio Value”, and the following are among its key points: Continue Reading Over-boarding: multitasking by another name (and with predictable results?)