Boards confront an evolving landscape: results of PwC’s 2013 Annual Corporate Directors Survey.
PwC’s 2013 Annual Corporate Directors Survey
There is 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 an 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 perceived increased influence of proxy advisors are all accelerating evolution in the boardroom. In some cases, even a revolution.
The following are some of the insights from Boards confront an evolving landscape: PwC’s 2013 Annual Corporate Directors Survey. During the summer, 934 public company directors responded to survey questions. Of those directors, 70% serve on the boards of companies with more than $1 billion in annual revenue.
To read the results of this year’s survey, click on each of the following category links: Board composition and behavior, IT oversight, Executive compensation, Stakeholder communications, Strategy and risk management, Regulatory and governance environment.
“Today’s world of corporate governance is impacting boardroom dynamics, prompting corporate directors to reflect on the primary motivation behind their board service,” said Mary Ann Cloyd, Leader of PwC’s Center for Board Governance. “We also find that they take great care in evaluating and acting on board performance.”
At the same time, Cloyd stated that the evolution of corporate governance has caused directors to reconsider their relationships with stakeholders. “However, while some boards believe direct engagement in corporate governance, executive compensation, and director nominations is part of their role, others think director communications in these areas is inappropriate,” she said.
Board composition and behavior
Strategy and risk management
Regulatory and governance environment