THE NEW CHALLENGES FACING CORPORATE BOARDS IN 2018
How should the world’s corporate boards kick off their first meeting of 2018? By looking closely at their membership, the dangers facing the company, and their own inner workings, counsels the January issue of online monthly Boardroom INSIDER.
After decades of sluggish boardroom change, the pace has exploded, and boards now “find themselves trying to manage a runaway corporate horse,” writes BI publisher and governance speaker Ralph Ward. He spotlights three major boardroom concerns to start the year.
First, board membership needs a searching renewal. Standard board evaluation is no longer enough to refresh what Ward calls “a jumble sale” of aging members with often outdated skills. Work on a strategic plan that targets new talent needs over the next several years. Second is a tough discussion of crises that could face the company in the year ahead — especially issues no one is thinking about yet. “The past year saw sexual harassment concerns explode into a frenzy.” Finally, Ward suggests boards rethink the online portal programs most now use. The sector has advanced rapidly, and most boards “aren’t making the best use of this valuable governance tool.”
Also in the January Boardroom INSIDER: