While top corporate and institutional officials are experts at assessing issues and making fact-based decisions, considerations surrounding appointments of fellow senior leaders can present unique risks to the reputations of the decision-makers and their institutions.
One of the first rules of great leadership is knowing who to turn to for help. And much attention has been paid to the importance of a deep bench in a company’s C-Suite, but less emphasis is placed on the importance of fully leveraging the leadership experience on a corporate board.
Today’s business conditions call for boards of directors to add more value to the company equation by focusing on a wider range of issues.
Rising professionals should consider serving on boards to propel their careers.
When it comes to politics, U.S. corporate boards are, in some cases, as polarized as the general population, according to a Harvard Business Review survey of directors of public and private U.S.-based companies.
Companies largely seek board members with long histories of leadership experience. But in a world of rapid technological change, tech-savvy knowledge is now critical.
Most Fortune 500 companies today expect 50% or more of their future growth to come from emerging markets, and they are investing heavily to back this bet.
Everyone knows that millennials have recently overtaken baby boomers as the largest generation in the United States. And while the majority of CEOs, Presidents and Chairmen are still baby boomers, companies need to start phasing millennials into the boardroom mix.
CEOs who haven’t taken a long look at the makeup of their companies’ board of directors in a while should take the time to do so now. There is a lack of diversity across all boardrooms—and a pressing need to turn the tide.
Corporate board performance, and board governance, are experiencing more scrutiny today than ever before. Whether it’s by activist shareholders, proxy advisors or government regulators, each has their own agenda and set of recommendations for improvement or change.