How focused should corporate boards be on operational issues?

The phrase “Noses in. Fingers out” is a common descriptor for how involved corporate directors should be in a company’s operations. Many would say that directors are expected to provide oversight on issues like financials, operations and corporate direction, but shouldn’t make a habit of trying to help manage daily decision-making.

Yet history tells us that each company is different, and board members should be able to evaluate how much involvement is needed at any given time. Betsy Atkins, board member with Wynn Resorts, SolarEdge Technologies, Enovix Corp. and SL Green Realty, considers how much of a role boards should have to play.

• Is the phrase “Noses in. Fingers out” still relevant for directors today?
• What operational triggers might suggest that a board needs to dig deeper than just a cursory oversight review?