Latest research from ACDS reveals directors have diverging opinions on appropriateness and frequency of communication with stakeholders
NEW YORK, Sept. 12, 2013 – There is a dichotomy in the boardroom between directors who believe it’s appropriate to communicate about governance issues directly with stakeholders and those who do not, according to new research from PwC US’s 2013 Annual Corporate Directors Survey. Directors are changing their communications practices with institutional and retail investors, analysts, proxy advisors, employees and regulators. With the continued focus on compensation, boards also spend more time on this topic and increasingly respond to say on pay voting results.
In today’s release, PwC provides an inside look at key issues and board insights surrounding the areas of stakeholder relations, board practices and executive compensation. Conducted in the summer of 2013, 934 public company directors responded to the survey. Of those, 70% serve on the boards of companies with more than $1 billion in annual revenue.
“The evolution of corporate governance has caused directors to reconsider their relationships with stakeholders,” said Mary Ann Cloyd, Leader of PwC’s Center for Board Governance. “However, while some boards believe direct engagement on corporate governance, executive compensation and director nominations is part of their role, others think director communications in these same three areas is inappropriate.”
Key survey findings include:
For more information or to download all 2013 survey findings about executive compensation and stakeholder communications, please visit: http://www.pwc.com/us/directorssurvey.
Further survey data on the following topics will be available from PwC US as follows:
About PwC's Center for Board Governance
PwC's Center for Board Governance is a leading resource for directors. By promoting leading governance practices, the Center advances excellence in the boardroom and is dedicated to better enabling boards and audit committees to perform their important roles. To provide timely updates to board members, the Center publishes the Annual Corporate Directors Survey, monthly BoardroomDirect, and offers forums for directors to discuss current issues.
For more information, please visit http://www.pwc.com/US/CenterForBoardGovernance.
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Katherine Lowry, Edelman