I truly believe that more effective corporate governance and more vigilance on the part of all directors can contribute significantly to a company’s better financial and ethical performance. We as directors have a responsibility to do our part to help restore trust in corporate governance and in American business, help to build long term value for shareholders and to do our best for the company as a whole and its stakeholders.
Franklin served as chairman of the NACD (2009-13) during a period of rapid growth in revenue, membership and quality of offerings. She is now chairman emerita. Franklin has served on NACD’s board since 2002, chaired its Governance Committee, chaired one NACD Blue Ribbon Commissions, co-chaired two, and served on 11 other NACD Blue Ribbon Commissions. In December 2014, Franklin was inducted into the NACD Directorship Hall of Fame.
Franklin is a regular speaker and consultant to boards on best practices and navigating today’s environment as it has been impacted by regulation and shareholder activism. She has received numerous awards, including:
Directorship 100, 2007, 2009, 2014 Hall of Fame
Most Influential People & Organizations in Governance
Outstanding Director, Class of 2003
The Outstanding Directors Exchange (ODX)
Director of the Year, 2000
The National Association of Corporate Directors (NACD)
John J. McCloy Award, 1991
For contributions to auditing
Public Oversight Board
American Institute of Certified Public Accountants
Audit Committee Expertise
People tell me I have invented some of the best practices in use today. I’m pleased to hear that, but I don’t go around trying to invent best practices. I do what seems to make sense and help the audit committee do its job.
Franklin is especially known for shaping the role of today’s audit committee chairman. In her 30 years of service on audit committees, she has established policies and honed practices that in today’s era of corporate scandals are being heralded as exemplary (Outstanding Directors Report, 2003).
Service to Accounting and Audit Organizations
American Institute of Certified Public Accountants (AICPA) (1977 – 1986)
Chair, Audit; One of the First Public Members
Auditing Standards Board Planning Committee (1989 – 1992)
Financial Accounting Foundation (which oversees FASB) (2003 – 2006)
Trustee; Chair, International
Public Company Accounting Oversight Board (PCAOB) (2003 – 2009)
Member of Advisory Council
I have seen firsthand the power of diversity in the boardroom. I have seen decision making sharpened and enriched when there are many voices, thoughts, and different perspectives around the board table. Increasing diversity is not only the right thing to do. It can boost competitiveness and our capitalistic system.