The best CEOs maximize the skill sets and experience of their board members to help lead their companies, says Wharton School Professor Michael Useem, Co-Author of "Boards That Lead". CEOs that merely use the board of directors to rubber stamp their policies leave a lot on the table. Useem says P&G is an example of company that has created a strong, knowledgeable board and fully utilizes its abilities. Finally, he says board members must have the capacity to lead inside and outside the board room.

Disclosure: TheStreet's editorial policy prohibits staff editors and reporters from holding positions in any individual stocks.

If you liked this article you might like

Nelson Peltz: P&G Needs to 'Step Into This Century'

Crazy Weak U.S. Dollar Will Make These 10 Companies Huge Winners

Ridiculously Weak U.S. Dollar Will Make These 10 Companies Huge Winners

Procter & Gamble Suffers a New Blow From This $15 Billion Investor

Don't Get Shaken Out of Good Stocks: Cramer's 'Mad Money' Recap (Wed 9/13/17)