FOLEY’S NATIONAL DIRECTORS INSTITUTE ANNOUNCES 2016 BOARD OF THE YEAR WINNERS
Four boards of directors to be recognized at Foley’s 15th annual corporate governance conference
Foley & Lardner LLP is pleased to announce the recipients of its 2016 National Directors Institute (NDI) Board of the Year awards. Now in its fourth year, the awards program will recognize the following boards of directors at Foley’s 15th annual NDI Executive Exchange corporate governance conference to be held on November 9 and 10 in Chicago.
● Public Company Board of the Year – Large Cap: Sysco Corporation
● Public Company Board of the Year – Small Cap: Quad/Graphics, Inc.
● Private Company Board of the Year: Paper Machinery Corporation
● Private Company Board of the Year – Not for Profit: Alliant Credit Union
“For a board to operate most effectively, all individual directors must work as a team to steer their companies through an increasingly complex regulatory, stakeholder and economic environment,” said Steve Barth, Foley partner and chair of NDI. “In light of this, we are thrilled to focus this year’s awards program on honoring four boards of directors that have implemented best in class corporate governance practices and led their companies through various challenges and opportunities in a manner that has maximized value for their stakeholders.”
Sysco Corporation’s board of directors was recognized for its success in developing a long-term strategy that has maximized value for shareholders. The board has advised management on strategic acquisitions, fostered strong relationships with shareholders and maintained shareholder-friendly disclosure and governance policies. In addition, the board recognizes the importance of evaluation, refreshment and succession planning to ensure that the directors possess a composite set of skills, experience and qualifications necessary for the board to successfully oversee management’s execution of Sysco’s strategic priorities. In 2016, the board enhanced its evaluation process, approved a new tenure policy and expanded the size of the board by electing three new independent, non-employee directors.
Similarly, the board of directors for Quad/Graphics has led the company through a series of acquisitions that have enabled the printer and marketing services provider to consolidate the printing industry and remove inefficient and underutilized capacity, while also expanding the company’s worldwide geographic presence, and product and service offerings. Through a disciplined capital management program, Quad/Graphics has generated strong returns for its shareholders. Not only does the company continue to pay down debt and pension liabilities, but it makes compelling investments that drive profitable growth and productivity, and provides a sustainable dividend. Key to the board’s success is recruiting new members with extensive experience in areas that will help the company grow.
The board of directors of Paper Machinery Corporation was recognized for its leadership in guiding the company through a recent transition from 60 years of family ownership to an employee-owned company. Through a deep understanding of the best interests of the company, its employees and the City of Milwaukee, the board was able to lead the company through a complicated regulatory process to allow all employees to have an ownership stake in the business and its future success.
Alliant Credit Union’s board of directors has worked closely with its management team to implement a multi-year strategic plan that has enhanced services for members and further improved industry-leading operating efficiency. In addition, the board has adopted governance best practices including board committee and board member self-assessments, streamlined board materials to increase effectiveness and efficiency and added board members with specific expertise that aligns with Alliant’s strategic vision. Alliant’s board is comprised of dedicated members representing various esteemed companies from throughout the United States.
NDI is one of the nation’s oldest and most preeminent practical symposiums focused on boardroom governance. For the past 15 years, NDI has served as a platform for business leaders to discuss best practices and new trends in boardroom corporate governance. In addition to its annual Executive Exchange symposium, NDI offers a series of web conferences and interactive programs throughout the year for executives, directors, officers, general counsel and boardroom advisors to both public and private companies. For more information or to register to attend NDI, please visit www.foley.com/NDI.
About Foley & Lardner LLP
Foley & Lardner LLP is a corporate law firm that provides legal and related services for complex issues facing companies today. With approximately 900 attorneys in 20 offices, Foley combines international reach with a local focus across a full range of legal services in various industries, including technology, health care, automotive and manufacturing. Foley has been recognized by clients and the legal industry for its strong commitment to client service excellence and innovation. Learn more at Foley.com.
Foley & Lardner LLP