860 public company directors responded to PwC’s 2012 Annual Corporate Directors Survey. Of those directors, 70% serve on the boards of companies with more than $1 billion in annual revenue.
Our study shows that 91% of directors find new board members through director recommendations, suggesting that directors are more comfortable with individuals recommended by someone they know and trust.
A surprising number of boards (37%) have no clear allocation of specific responsibilities for overseeing major risks among the board and its committees.
In our study, strategic planning topped the board’s “wish list,” with over 75% of directors wanting to devote more time to it during the next year.
While directors see the opportunities in emerging technologies like social media, many are uncomfortable with the challenge of effectively overseeing IT strategy and risk.
Corporate governance is undergoing significant change, which means directors across the country are spending more time on board work and reconsidering their oversight approach. But challenges remain. Directors expect to increase their focus on the critical areas of board composition, risk management, strategy and IT oversight. Explore our 2012 Annual Corporate Directors Survey for a deeper look into directors' views on these major issues.
In the summer of 2012, 860 public company directors responded to our 2012 Annual Corporate Directors Survey. Of those directors, 70% serve on the boards of companies with more than $1 billion in annual revenue. As a result, the survey’s findings reflect the practices and boardroom perspectives of many of today’s world-class companies. We structured the survey to provide pragmatic feedback directors can use to assess and improve performance in areas that are “top of mind” to today’s boards. The survey shows directors are clearly making progress and enhancing their practices. At the same time, directors acknowledge the numerous challenges they still face.