By Karamjeet Paul (Published by Agenda, a Financial Times publication, Feb, 10, 2014)
No director wants their company to experience the fate of MF Global, Enron or Lehman Brothers. For this reason, minimizing exposure to sudden catastrophic events — known academically as extreme tail risk — must be a top priority for boards because of their devastating financial impact.
Two macro-business trends make extreme risk a greater governance priority. (Click here to read more … )