Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 33 n° 338

The legitimacy of top management teams

Posted by fidest press agency su venerdì, 27 marzo 2009

In this new position paper entitled “Taking Care of Executive Legitimacy: A Neglected Issue of Corporate Governance,” Isabelle Mari, professor of strategy at EDHEC, and Valérie Petit, Director of the EDHEC Leadership and Corporate Governance Research Centre, examine the reasons for the growing precariousness of executive positions and suggest putting the legitimacy of management back at the core of corporate governance.   The regular increase in turnover in top management teams underscores the growing fragility of the executive position and is symptomatic of a crisis of legitimacy in executive management. Without this legitimacy, the stability and success of the firm are threatened. Particularly in an economic downturn, companies cannot afford to be without solid and competent strategic leadership in order to give themselves the most effective conditions for manoeuvring. This is why it is necessary to take care of managerial legitimacy.  With its study of legitimacy, EDHEC invites academics as well as the corporate governance stakeholders to put this fundamental yet currently neglected issue on their agenda. This position paper is the first of a series whose aim is to offer managerial solutions to the problem of rebuilding top management teams legitimacy.   This position paper proposes a new leadership framework on managerial legitimacy. This model allows us first of all to envisage a measure for managerial legitimacy that would challenge stakeholders and companies about the conditions required to engender top executive legitimacy. Secondly, it is an invitation to identify positive legitimacy practices and for top management teams to reflect on their willingness and capacity to put these practices into operation.

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