August 10, 2012

Five CT Fortune 500s ranked for board capabilities

Connecticut's Xerox, Stanley Black & Decker, and General Electric are among top U.S. publicly traded companies ranked for the capacity of their boards of directors to govern well, a fresh report shows.

Xerox, the document-processing and data services outfit based in Norwalk, was No. 12 on JamesDruryPartners' second annual report measuring the governance capacity of America's Fortune 550 companies.

New Britain toolmaker Stanley Black & Decker was No. 29 and Fairfield industrial conglomerate GE was No. 33.

Also ranked was Stamford's Pitney Bowes, No. 35, and Hartford health insurer Aetna Inc. was No. 39.

The study is based on a new methodology by which each director's business acumen, and the board's total business acumen, can be valued as a predictive indicator of a board's governance capacity.

JDP, based in Chicago, said its research measures governance capacity -- the board's "capacity to govern well", not governance effectiveness.

"Whether the board uses that capacity effectively is a separate question,"said JDP Chairman and CEO James Drury.

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