NEW YORK — Today, The Conference Board’s Governance Center released a report that details what corporate board directors believe their role entails. In the report, Just What is the Corporate Director’s Job? Directors’ Perspectives on the Board Member’s Job Description, the viewpoints featured result from individual interviews and a panel discussion with board directors of companies from multiple sectors. Highlights from those conversations include the following:
“As our report points out, over the past six decades, the evolution of our capital markets and legal and regulatory regimes has had the effect of changing how different stakeholder groups view the director’s role in fundamental ways,” said Doug Chia, Executive Director of the Governance Center at The Conference Board. “By achieving greater consensus around this position, companies of all sectors will benefit from boards with greater clarity and focus – absolute musts amid heightened global competition.”
“Directors we have spoken with agree that it is awkward to discuss replacing a current director who is not competent,” said Gary Larkin, report author and Research Associate at The Conference Board. “They also stress how boards can ascertain the skill sets of their board by conducting a gap analysis. And most agree that while the days of the ‘country club’ boards are over, more needs to be done to make boards more diverse.”
The report marks the second of several Governance Center reports that feature insights from boardroom stakeholders about the role of the corporate director. In addition to highlights from conversations with directors, the report includes results of a Conference Board CEO succession practices survey, a review and example of Fortune 500 company shareholder engagement plans, and examples of board diversity policies.
Learn more about The Conference Board’s Governance Center here. The conversation continues on Twitter: @TCBCorpGov I @ConferenceBoard
About The Conference Board’s Governance Center
The Conference Board’s Governance Center draws upon authoritative research from The Conference Board. Our mission is to work in the public interest to provide knowledge and thought leadership on global corporate governance issues for boards and c-suite leaders, investors, and other leading organizations.
About The Conference Board
The Conference Board is a global, independent business membership and research association working in the public interest. Our mission is unique: To provide the world’s leading organizations with the practical knowledge they need to improve their performance and better serve society. The Conference Board is a non-advocacy, not-for-profit entity holding 501 (c) (3) tax-exempt status in the United States.
SOURCE The Conference Board