Podcast #78 | Bill McNabb: Talent, Strategy and Risk. How Investors and Boards Are Redefining TSR.

In episode #78 of the Boardroom Governance Podcast, Evan Epstein talks with Bill McNabb Bill McNabb, former Chair & CEO of Vanguard, the world’s second largest institutional investor with over $7.5 trillion in AUM.

Bill currently serves as a corporate director of UnitedHealth Group and IBM, in addition to serving on several other PE and VC-backed company boards.

He is the author of the book "Talent, Strategy, Risk: How Investors and Boards Are Redefining TSR" with co-authors Ram Sharam and Dennis Carey (2021). In their book, they argue that since TSR (total shareholder return) cannot keep the short and long term in balance, boards should focus on a different kind of TSR—talent, strategy, and risk—because decisions and actions around these factors, more than any others, determine whether or not a company creates long-term value.

In this podcast, they talk about how to create a capable board, redesigning board committees, how to reduce information asymmetries between management and the board, and the importance of engaging with investors.

They also address:

• Private company mindset and PE boards.
• Shareholder activism.
• The rise of Chief Human Resources Officers.
• The latest trend of delegation of voting power from large institutional investors to beneficial owners.
• ESG and corporate purpose (shareholder and stakeholder value).

You can listen to the episode directly at https://boardroom-governance.com/episodes/bill-mcnabb (where you can find all the show notes), or wherever you listen to your favorite podcasts such as in: Apple, Spotify, Google, Amazon or Stitcher.

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