“Boards in a Disruptive Age” Global Survey Highlights Increasing Pressures on Boards and Board Directors
InterSearch Worldwide, a leading global executive search organization operating in more than 50 countries, has announced the results of a joint survey with Board Network – The Danish Professional Directors Association: “Global Board Survey 2015 – Boards in a Disruptive Age.”
The survey focused on the business disruptions boards are increasing dealing with today, including the effects of digitalization, globalization, increased regulation, business model and product innovation, pressures to improve diversity, sustainability issues, and many more topics.
“The mandate for board positions today – whether as Chair, Lead Independent Director or even as an ordinary board member – is vastly different than just a decade ago,” said Jakob Stengel, Managing Partner and Global Head of the InterSearch Board Practice, and Managing Partner of Copenhagen-based Case Rose International. “For companies of all kinds around the world, board work is rapidly undergoing professionalization that entails enlarged responsibility, increased liability, more time spend and a closer involvement with the company, its executive management and the rest of the operation.”
Regardless of region or country, industry, or company size – both in terms of headcount and revenue/turnover, several key trends emerged from the results:
- Effective board work requires more time spend, both preparatory and at the board meetings and committee meetings, compared to the past
- While boardrooms are still heavily populated by men, there is a high attention to diversity demands for the future, competency-wise as well as in respect of gender and internationalization
- Boards are increasingly tapping in to the expertise of external advisors and experts instead of purely relying on the reports and analysis provided by executive management and other in-house resources
- Boards are aware of, however not necessarily sufficiently equipped to handle, the (expected) forthcoming disruptive scenarios bound to meet the company
- Boards express an optimistic and confident view on the economy in the future
“Scrutiny on corporate boards has never been more intense, and the tangible responsibilities of individual directors are increasingly intense. Serving on a board is no longer simply an honorary position – it’s a real job,” said InterSearch Chairman Peter Waite. “InterSearch was pleased to co-sponsor this timely and significant global survey with the Board Network.”
The “Global Board Survey 2015 – Boards in a Disruptive Age” included respondents from nearly 600 board members, executives, and other top-level professionals from 43 countries.
Click here to download the full results of the survey in PDF format (or read online below).
