Executive Summary In most boardrooms, the audit committee gets all the glory and the Nomination and Remuneration Committee gets treated like the HR paperwork desk. That's a mistake, and an expensive one. The NRC quietly controls two of the most powerful levers in any company: who gets a seat at the table, and what everyone at that table gets paid. Get those two right and half your governance problems never happen. Get them wrong and no amount of auditing later will save you.

Corporate crises can be sudden and overwhelming, shaking the foundation of companies and challenging their leadership. Whether it's a...