Almost half of directors say someone on their board should be replaced
A quarter of directors say racial diversity “not at all important” in achieving diversity of thought
NEW YORK, October 17, 2017 –Almost half (46 percent) of public company directors say a colleague needs to be replaced, according to PwC’s 2017 Annual Corporate Directors Survey. The report compiles insights from 884 board members to examine director sentiment across a range of governance issues – many of which point to stark disconnections between directors and investors.
“In a divisive time, our survey findings show that even boardrooms aren’t immune,” says Paula Loop, Leader of PwC’s Governance Insights Center. “Investors are pushing forward on a progressive agenda, and while directors have made strides with taking action on performance assessments and warming up to shareholder engagement, there’s still more work to do on areas such as increasing boardroom diversity— including gender, ethnic and socio-economic diversity—prioritizing key societal issues and challenging management on strategy.”
Core topics addressed in the survey include: board refreshment, diversity, increasing focus on environmental, social and governance (ESG) issues, engaging with shareholders, executive pay and cybersecurity oversight. Key findings include:
To download the full report, please visit: pwc.com/acds2017.
PwC’s Governance Insights Center supports directors and investors with governance knowledge to answer tough questions and tackle complex challenges. Learn from our network of subject-matter experts, business leaders, and experienced peers as they share their insights and the latest thinking on current issues. Beyond governance, we help directors and investors better understand new financial accounting standards so they can make better oversight and investment decisions. The center connects all the dots for a more complete perspective. For more information, please visit: http://www.pwc.com/us/en/governance-insights-center.html.
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