It is a truism of corporate governance that a strong, highly functioning board can be an invaluable asset to management, going beyond oversight to provide guidance and strategic counsel to the CEO and his or her team. But these benefits can only be realized if the board and management have the trust and transparency that allows for candid, constructive conversation.
Whether it’s racial tensions in a coffee shop or testimony before Congress about privacy, CEOs face a lot of pressure to make things right. But where do CEOs typically turn to when they need honest feedback Not the boardroom.
Based on Egon Zehnder's published analysis, there is measured progress in diversity gains among women on Boards.
More than ever, organization leaders need committed counselors – individuals who will push them to greater heights and encourage them to pursue transformation. They need objective individuals who can advise, envision and strategize for long-term success.
Over the past year, several sizable pension funds and proxy advisory firms have taken a more aggressive stance on gender diversity in the boardroom, threatening to withhold votes or even mount an opposition slate at companies thought to be making insufficient progress on this issue.
In April 2017 Egon Zehnder brought together a notable group of General Counsels and Legal/ Compliance Heads in Hong Kong, Shanghai and Beijing to discuss the challenges and opportunities facing GCs in Greater China. Several themes emerged during the roundtable events—themes that are relevant to any GCs in the region.
Egon Zehnder’s Istanbul office recently convened a group of Turkey-based HR leaders from various sectors for a series of breakfast discussions focused on the importance of team building. Accompanied by the Office Leader Murat Yesildere’s presentation on “Building Highly Effective Leadership Teams”, the participants were very forthcoming creating an open dialogue where they shared their experiences and perspectives on team effectiveness.
Proxy season, with its voting on director slates, shines a bright light on board composition—an aspect of governance that has come under increasing scrutiny from investors, directors and other observers. But the slate is only the end result of a director succession process that has become more and more complex and competitive.
The days when the main function of Audit Committees was to put a “stamp of approval” on companies’ financials are long gone. Heightened risk awareness and increased regulation means that Audit Committees must now take on a much more proactive role in detecting, understanding and acting on risk – be it financial, macroeconomic, regulatory, legal or cybersecurity-related.
In today’s environment, boards are expected to fulfillll their traditional oversight and compliance role and also add value through strategic insight and guidance.