Abstract:
Manuscript Type: Review
Research Question / Issue: The review focuses on board failure especially in the developing world, and in
particular, Zimbabwe. The review asks pertinent questions: Why are boards failing? How are boards
populated? What are the characteristics that determine selection to the board? Who selects directors?
Research Findings / Insights: The review establishes that there is need for a corporate governance code and
awareness of corporate governance practices in Zimbabwe. Directors are usually selected through the
influence of the CEO and such directors have weak oversight on the performance of the CEO. Some
characteristics that determine director selection are gender, age, educational qualifications, experience and
financial expertise.
Theoretical / Academic Implications: Directors are stewards who have to be accountable to all stakeholders.
Practitioner / Policy Implications: There is need to establish how directors are selected in light of the high rate
of company and board failures. That directors are also chosen by the CEO is worrying. The selection process
should yield capable, independent and diverse directors who can satisfy the expectations of a wide spectrum of
stakeholders
