What motivates people to sit on corporate boards?
Technology and digital media experience are attractive skills for potential director candidates.
Seventy percent of directors say their boards responded to their company’s 2012 say on pay voting results.
Directors have differing opinions about what—and with whom—to communicate.
Strategic planning is a top priority for boards for the coming year.
Directors are most concerned about possible requirements for mandatory auditor rotation/retendering.
We are witnessing unprecedented change in the corporate governance world: new perspectives on boardroom composition, higher levels of stakeholder engagement, more emphasis on emerging risks and strategies, and the increasing velocity of change in the digital world. These factors, coupled with calls for enhanced transparency around governance practices and reporting, the very active regulatory and lawmaking environment, and the enhanced power of proxy advisors, are all accelerating evolution, and in some cases creating a revolution, in the boardroom.
In the summer of 2013, 934 public company directors responded to our 2013 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. The focus of this year’s research not only reflects in-depth analysis of contemporary governance trends, but also emphasizes how boards are reacting to a rapidly evolving landscape.
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