Insights from PwC’s 2017 Annual Corporate Directors Survey
public company directors surveyed
believe at least one of their board members should be replaced
say their board has taken action from their last board assessment
don’t think climate change should be a factor at all when forming company strategy
Our 2017 survey uncovered key insights into what directors think – about the changing governance landscape, their fellow board members and outside pressures that are impacting their opinions and performance. Our insights illustrate a real divide – one that shows directors are not always connected with what’s important to investors or with each other. Diversity in the boardroom continues to be a heated topic, with male and female directors having some very different perspectives. A substantial number of directors aren’t impressed with their fellow board members and think at least one person should be replaced. And directors aren’t on the same page when it comes to shareholder engagement.
Sitting on a public company board is not a simple undertaking. Companies are investing in new technologies to get ahead, cybersecurity risks continue to threaten companies across industries, investors are more vocal about a number of governance issues and a new administration means a lot of unknowns. US public company directors face great expectations from investors and the public, and directors have a lot to keep up with in order to be effective.
For over a decade, PwC’s Annual Corporate Directors Survey has gauged the views of public company directors from across the United States on a variety of corporate governance matters. In the summer of 2017, 886 directors participated in our survey. The respondents represent a cross-section of companies from over two dozen industries, 75% of which have annual revenues of more than $1 billion. 84% of the respondents were men, and 16% were women. Their board tenure varied, with about 60% having served on their board for five or more years.