The National Association of Corporate Directors New Jersey Chapter (NACD NJ) celebrated directors of public, private, and non-profit boards who have made valuable contributions to the boards on which they serve and advance exemplary board leadership at its inaugural Director of the Year Awards (DOYA) dinner on Thursday, May 9.
This event brings the corporate and civic communities together to celebrate excellence in leadership, said Tom Fuller, DOYA event chair and NACD NJ board member, during opening remarks. Our honorees all exemplify that good governance is critical to the growth and sustainability of the New Jersey business community.
Daryl Brewster, CEO of Chief Executives for Corporate Purpose (CECP), served as emcee for the event that was held at the Pleasantdale Chateau in West Orange before a gathering of over 300 corporate officials.
Board Excellence Insights from the Director of the Year Award Honorees
Lifetime Achievement in Governance: Shirley Ann Jackson, Ph.D.
So much of my career is rooted in New Jersey. My success is drawn from the linkages I make between technology, governance, policy, and international affairs. Boards and management teams today are faced with faster changes and greater complexity. We live in a world where social media dominates, putting companies in the spotlight and under more scrutiny. Board directors are faced with many challenges and we must continue to advance good governance. In every challenge, there is possibility, said Jackson.
Jackson is president of Rensselaer Polytechnic Institute, current board member of FedEx, IBM, Medtronic, and PSEG, as well as World Economic Forum, MIT and Brookings Institute. This award honors an independent director (retired or sitting) on one or more corporate or non-profit boards, with peer and community recognition for integrity and leadership at the highest levels over an extended career.
Leadership in Corporate Governance: Sara Mathew
Marc Lautenbach, president and CEO of Pitney Bowes, who presented Mathew with the award, said, When I think of two characteristics of a good director, its good judgment and courage. And thats exactly how Sara approaches her leadership and board service. I cant think of an individual who is more deserving of this award.
Mathew is a current board member of Campbell Soup Company, Freddie Mac, Shire plc, and State Street Corporation. She is the former chair & CEO of Dun & Bradstreet, Inc. This award honors an independent director recognized by peers as an outstanding leader and current contributor in a public company boardroom.
Non-Profit Leadership Award: Josh S. Weston
Mr. Weston shared his insights on effective governance practices for nonprofit boards, including: Involve board members in whats going on in the enterprise of the business in a tactful way. Encourage board members to have one-on-one conversations with a mid-level manager or visit a key operating location.
Weston is chairman emeritus ADP Corporation, chairman of NJTV, Liberty Science Center, and Safe Water Network; board member of NJ Food Bank, NJ Performing Arts Center, KIPP-NJ Charter Schools, and International Rescue Committee. This award honors an independent director recognized by peers as an outstanding community leader and current contributor in a non-profit boardroom.
Private Company Board of the Year: J.M. Huber Corporation
Michael Marberry, CEO of J.M. Huber, accepted the award and said, Private companies have their unique challenges and we take corporate governance very seriously. At our organization, youll see corporate governance practices that are at the same level of excellence as those at a public company. Thank you again for this recognition.
This award honors the directors of a private company board that includes outside directors, who demonstrate independence and strong governance leadership in providing guidance to a company through a period of extraordinary growth, crisis, or other major developments.
Public Company Board of the Year: Merck & Co.
Ken Frazier, CEO of Merck, said, At Merck, we constantly press the envelope on science and technology to develop medicines and vaccines to improve health and wellbeing around the world. When we invest, our rewards are 12-15 years out and there is a huge amount of risk involved. Good governance is important, and we have the kind of board that is focused and committed to our mission just as our people are, and make sure that our management team is managing risk effectively.
This award honors the directors of a public corporate board who have significantly protected or enhanced stakeholder value while providing guidance in steering a company through a period of extraordinary growth, crisis, or other major developments.
Todays board leaders must be prepared to understand these challenges and risks, to ask the tough questions, and to lead with integrity, said Anita Allen, NACD NJ chapter president. Our honorees represent the pinnacle of transformational leadership, both in their boardrooms and in their broader community.
For more details about the event, visit https://newjersey.nacdonline.org/Events/Detail/index.cfm?ItemNumber=60943
About the NACD New Jersey Chapter
The NACD New Jersey Chapter, part of the larger NACD chapter network, provides vital information and education to current and aspiring NACD members, including directors and senior executives from New Jersey-based public and private companies, as well as nonprofit organizations. Through formal and informal networking and education on director effectiveness, leading trends and issues in corporate governance, and the sharing of best-in-class governance practices, we elevate board performance.
Learn more about NACDNJ membership and general governance information online at newjersey.nacdonline.org
The National Association of Corporate Directors (NACD) empowers more than 20,000 directors to lead with confidence in the boardroom. As the recognized authority on leading boardroom practices, NACD helps boards strengthen investor trust and public confidence by ensuring that todays directors are well prepared for tomorrows challenges. World-class boards join NACD to elevate performance, gain foresight, and instill confidence. Fostering collaboration among directors, investors, and corporate governance stakeholders, NACD has been setting the standard for responsible board leadership for more than 40 years. To learn more about NACD, visit www.NACDonline.org.