UK: HELLER ON MANAGEMENT - SEVERAL HEADS ARE BETTER THAN ONE.

Collective top management will be necessary in the future, says Robert Heller. But it doesn't remove the need for central direction or the difficulty in regulating the role of the CEO.

Shareholders have seldom had it so good. Profits are rising, stock markets are strong - and, if share prices falter, or even if they don't, predators may intervene with juicy premiums. Boards are apparently delivering the goods and the goodies. Yet they've never been under fiercer attack.