Akin Gump Attorneys Offer Advice for Corporate Boards in 2013
Francine Friedman, senior policy counsel in Akin Gump’s privacy and data protection practice, and Rolf Zaiss, partner in the firm’s executive compensation, employee benefits and ERISA practice, offer their advice on some topics confronting corporate board members, in the March issue of Corporate Secretary magazine.
Friedman focuses her comments on cybersecurity and concerns over data breaches. She says board members need to be fully aware of their companies’ privacy policies and how they will “be viewed by the public.” She recommends having someone on a board who understands Internet law and hiring a chief privacy officer if a company uses data as part of its core business.
Zaiss addresses the topic of executive compensation in his remarks, noting that “the board is the oversight committee” when it comes to pay and bonuses, having to balance the interests of shareholders with the need to hire and retain executive talent. “When you’re competing for market share you need the right people,” Zaiss says, “and you need to be sensitive to incentives that are appropriate for your industry.”
Much of this article was based on the Akin Gump client alert “Top 10 Topics for Directors in 2013,” which is available by clicking here.