By William Jones, director, Sempra Energy

Corporate governance has never been more important. Companies today compete in an environment of unprecedented scrutiny. The collapse of icons of American enterprise such as Enron and WorldCom created extraordinary economic and personal loss. In addition to investors losing money and employees losing jobs, companies lost customers, key employees and perhaps permanently damaged their reputation. Moreover, all institutions -- private and public -- have suffered collateral damage and, to some extent, a loss of public trust. Directors today work in an environment where every business has become suspect. And while the majority of businesses have not been found guilty of any transgressions, the reputation of business in general has been tarnished by recent reports of marketing schemes, business scandals and accounting fraud.  

By Bruce Blakley, chairman, San Diego Foundation

We continue to read about a lot of nonprofit organizations with management and governance troubles. If you are on a nonprofit board, or are considering such a position, read the following examples and ask yourself – could this happen at your organization?  

I first served as a director of a company 23 years ago. The duties and responsibilities have changed dramatically through the years. I currently serve on the board of directors of eight corporations. Three of the companies are publicly traded, listed on the New York Stock Exchange. The other five are privately held, venture-capital-financed companies ranging from early stage businesses to those with more than $50 million in annual revenue.  

By Steven C. Francis, chairman of the board, AMN Healthcare

Integrity in leadership, transparency in operations and valuing human capital produces many positive results for a company, both financial and otherwise. These attributes can significantly contribute to the success of companies in transition, whether the changes faced by the company are great or small. Sound corporate governance also contributes to and supports an organization in times of change by helping to ensure compliance with the law and fostering an ethical business environment.  

By Donald Felsinger, chairman and CEO, Sempra Energy

As chairman of the board and chief executive officer of Sempra Energy, my primary responsibilities are to provide reliable and safe energy to our customers, create a dynamic workplace that attracts and retains the best employees and deliver long-term value for our shareholders. Having worked locally at Sempra Energy and at San Diego Gas & Electric (SDG&E) for more than 30 years, I am proud we are able to help solve some of the most critical energy challenges that face North America.  

By RICHARD KOPPES, LIZANNE THOMAS and WILLIAM ZAWROTN, Jones Day

Since the beginning of the new era in corporate governance that began with the passage of the Sarbanes-Oxley Act (SOX) in 2002, the focus of governance activity has shifted among the various required standing committees of the board of directors: the audit, compensation and nominating/corporate governance committees.  

In the more than five years since the federal Sarbanes-Oxley act was passed, the law, which set more stringent standards for public companies and their directors, has dramatically changed the internal machinations and accounting of public businesses.