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Corp Governance at Kings

In: Business and Management

Submitted By kallardt
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Corporate Governance at Kings
Particularly during transformative times such as a merger, governance can be used to ensure that managers and employees effectively translate corporate strategy into operational initiatives. This is being done at Kings, mostly driven my internal mechanisms in a non traditional manner of directing from inside as opposed from the owners. Direct IT governance at Kings does not follow any traditional business model we could find. For example, not only is there no board representation from IT, there isn't even a CIO for either Kings Supermarkets or Balduccis. In summary, the Board of Directors delegates the running of IT to an eight member senior management committee. One member of that committee, currently the CFO is responsible for IT matters, and thus sits as the chair of a steering committee that governs major IT projects.

Solving for the Agency problem

The Agency problem for IT is managed at arm’s length by the Board of Directors, which does contain Angelo, Gordon members; however, corporate IT does not have a seat at this table. The board, in turn governs an eight person senior management committee, all of which are Kings employees, but again, sans an IT heavyweight. There is third party, independent IT oversight further down the chain of command at the steering committee level, however, it is limited to the committee’s engagement of PwC as a qualified independent external consultants to help them formulate strategy. It is unclear whether their findings are independently reported to the board, thus providing an additional level of independence.

IT steering committee

IT strategy is formed and directed a Steering Committee which is chaired by the CFO, who in turn manages the IT function. The committee is responsible for developing the 3 - 5 year technical and strategic plan for the company. “It is this committee...

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