Excerpts from the Deloitte report (link below): Many issues compete for a place at the top of a company’s list of governance priorities,including the potential expansion of shareholder rights, regulatory demands for enhanced disclosure, and the oversight of risk management. However, we would argue there is no higher governance priority than ensuring you have the right people on the board.
So how does a company approach board composition? Where does the process begin and does it ever end? This paper is written for chairs of governance and nominating committees, board chairs, and other senior-level decision makers who have input on the board selection process — in short, the people responsible for making sure your company
gets the board its stakeholders deserve. It discusses a strategic way of thinking about and approaching board composition that is fair but realistic, timely but timeless, and, with the help of a few resources, just may set your board on a journey to a place of enhanced governance.
What drives board composition, and change?
What constitutes the optimal mix?