ABSTRACT
Companies commonly use acquisitions and initial public offerings to gain new resources to grow and achieve sustained performance. While the effects for performance outcomes are well documented following these changes, few accounts explore responsible board leadership to affect changes in ownership structure. This chapter focuses on the board’s roles and responsibilities and board characteristics as the board interacts with stakeholders to reconfigure company’s share ownership. The lens of board’s roles and responsibilities, composition, reputation, and capabilities as well as interactions are used to illustrate the ways in which board-led responsible leadership enables or hinders strategic change in two cases that feature an acquisition of large, listed company and an initial public offering by a state-owned enterprise. The different lenses allow a comparison of the cases and a connection to board led responsible leadership insights that warrant attention for scholars and those that interact with and support boards of directors.
