University of Miami President Donna Shalala may be in charge of her own university, but at the end of the day she still has to answer to a boss — the university’s board of trustees.
The exception to that rule: the days Shalala shows up to meetings as a corporate board member for two local powerhouse companies, companies with UM trustees as CEOs. All of a sudden, those trustees — Mednax’s Roger Medel and Lennar’s Stuart Miller — answer to her.
It’s a blurry line that some corporate governance experts call highly problematic, though Shalala insists the situation is “very carefully managed” to prevent conflicts of interest from arising.
“The board of trustees are very careful about ethics,” Shalala said. Referring to Medel and Miller, she explained, “I can’t sit on their compensation committee, and they can’t sit on my compensation committee.”