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AP Photo/Jacquelyn Martin

Two researchers’ innovative idea for fixing corporate boards: get rid of the people

John Engen
Member exclusive by John Engen for The board is broken

Stephen Bainbridge has an idea for addressing the shortcomings of how corporations are governed today: replace the board of directors with a company.

The UCLA law prof and his counterpart from the University of Chicago, Todd Henderson, have co-authored both a paper and a book on the topic. They argue that it’s time to allow consultant-like firms to oversee the corporation. The duo even has a kitschy name for their fictitious creation: “Boards R Us.”

Bainbridge talked recently about his board-services provider (BSP) idea, why we don’t have it today and the state of boards today. The interview is edited for length and clarity.

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