#PeterDrucker in 1954: "In reality the Board as conceived by the lawmaker is at best a tired fiction. It is perhaps not too much to say that it has become a shadow king. In most of the large companies, it has in effect been deposed and its place taken by executive management."

#BoardManagement #shareholders
https://www.kornferry.com/insights/briefings-for-the-boardroom/buffett-s-beef-with-directors-