Saturday, December 6, 2008

Anyone in Charge ?

Mr. John D. Wren
Business Week

Mr. Stanley Brezenoff
The Brooklyn Paper/Tom Callan

The law requires a board of a not-for-profit corporation to be in overall charge. No matter how many executives and other employees there may be, it is the Board, and nobody else, that is charged with the fiduciary duty to preserve and nurture the organization. In the case of LICH, that would be the Board of Regents, whose chairman is Mr. John D. Wren.

Mr. Brezenoff, who has made all the policy statements more or less on his own, has certainly given the impression that it is he, and nobody else, who is in charge. But, at least in form, he is but a paid servant of LICH, with but one seat on the Board. Where in all this is the legally-responsible Board ? Where is Mr. Wren ? What does Mr. Wren have to say about the important policy decisions that lie ahead for LICH ?

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