ABSTRACT
Given the wide range of responsibilities and functions the board is required to fulfill and that ask for advanced expertise, most corporate governance reforms require the board to be supported by a number of standing and specialized committees to help accomplish the task. As rule, the board is allowed to establish as many committees as needed and usually whenever an issue appears to be too complex and/or too important to be tackled by all its members. Such committees are usually chaired by a board member whose specific role is to be responsible in front of the board for the management and the effectiveness of the committee he chairs and to provide the necessary leadership to fulfill its mandate. The high emphasis placed on the committees’ system for resolving board issues can probably be defended on the basis of its practical benefits, although it may also present some problems.
