The annual visit to the doctor for a physical exam is an ironic ritual of modern life. After all the questions and tests, the desired outcome is to hear that nothing is wrong. While freedom from illness is a very good thing, there is a big difference between that and being in peak condition. How much more informative would the annual checkup be if it could tell us not just how to avoid sickness but how to be stronger and more flexible and have greater endurance? Rather than being a chore, the exam’s insights might make it something to look forward to.
For independent board chairmen of global companies, challenges continue to grow while room for error continues to shrink. Shareholders demand more rapid returns. Increasing regulation around the world demands exemplary corporate governance and rigorous compliance. Controversy about executive compensation has taken on new life in the context of rising income inequality.
The benefit of cross-industry hires (with respect to digital developments e.g.)
The importance of developing a vision and show deep curiosity for new challenges.
Women are in demand and can lead if they are able and willing, but this “is a delibaret choice – and entails sacrifice” - featuring Board Diversity Results in Hongkong from an EZ study.
Boardrooms have long been the domain of executives in their 50s, 60s – and even 70s, now that more boards are loosening mandatory retirement limits. But many boards are also electing directors in their early 30s – very often younger entrepreneurs who are the leading lights of digital transformation.
The traditional approach of filling board seats as they become available must give way to a more deliberate, longer-term perspective on board composition. A well-defined, long-term strategy helps the board give director succession planning the sustained, focused attention that it needs.
The findings of the 2014 Egon Zehnder European Board Diversity Analysis reveal that women's share of European board seats increased more than 20 percent, but progress stagnant in executive director and board leadership positions.
Early exits often arise from disappointment that the outcomes fall well short of what was hoped for, and perhaps promised, at the start. Yet for global companies, the stakes are high, which is why more needs to be done to help new leaders hit the ground running, and accelerate their ability to deliver results.
Boards of directors in the energy sector have been changing faster than ever – and if activist investors have their way, there’s more to come.