ABSTRACT
This chapter considers conceptual aspects of corporate governance and sustainability as a theoretical background, and then summarizes the two studies conducted among corporate boards and senior executives. It presents a short case study which lends support to the findings from the two studies with regard to the corporate mindset that prevailed up to the events described in the case study. Fonterra is New Zealand's largest company with annual revenue around NZ $20 billion, and is the world's biggest dairy exporter accounting for approximately 30 percent of world dairy trade. Directors' mindsets are defined in the more recent study as frames of beliefs, assumptions, and images that may affect perceptions and resulting behaviors, and thereby have a strong influence on social processes. The chapter examines directors' attitudes and perceptions regarding various aspects of their governance role and board tasks. Corporate sustainability has different meanings to different people and there are many definitions of the concept in the literature.
