During the course of succession planning, nominating and governance committees are on the lookout for the types of skills, abilities and traits in candidates that they need to fill their vacancies. In most cases, they're aware of the growing pressures and expectations of board directors. The change in the expectations for board directors calls for a new outlook on board performance. Current and future boards will be the ones that set a new standard and pace for the modern board director.
As companies approach board refreshment, it's important for them to be keenly aware of the trends and issues facing today's boards, which means they need to transition from present-day thinking to being forward-thinking. In looking toward a successful future, modern boards will benefit by seeking the following five traits in new board directors - curiosity, information-seeking, an investigative spirit, a disruptive/outside-the-box mindset and awareness.
The Curious Director & Meeting the Challenges of Modern Governance
- Modern Board Directors Are Curious
- Modern Board Directors Are Informed
- Modern Board Directors Are Investigative
- Modern Board Directors Are Disruptive
- Modern Board Directors Are Aware
Gearing Up for the Acceptance of a Modern Outlook on Board Governance
Boards that fail to take a modern approach to the marketplace risk complacency and disengagement by their boards, which will certainly have a negative impact on success and sustainability. The structure of past boards was designed to serve the needs of corporate businesses and shareholders of those times. The Information Age is the driving force behind the traits that encompass modern board directors. Boards that look for directors who are curious, informed, investigative, disruptive and aware will be the game-changers of the future.Media Highlights
Environmental, social and governance (ESG) issues have become more complex and multifaceted than ever before. At the same time, ESG continues to ascend on board and leadership agendas.
In this buyer’s guide, we explore what a market-leading ESG solution should look like and highlight the key areas organisations should be prioritising as they embark on their search.