New York and London— Sept. 21
European boards need to adopt more strategic, operational and independent roles to ensure deeper engagement and oversight, according to a new installment of Boyden’s Board of Directors Series, “Changing of the Board,” released Wednesday by Boyden global executive search.
The new edition of the series, titled “A Director’s Eye from Europe,” includes contributions from top senior non-executive directors and advisers from France, Germany, Switzerland and the U.K. It explores the specialized roles of non-executives and provides insight into the complex processes of director selection and evaluation.
“The prominent focus on governance issues by regulatory bodies, shareholders and media in a world of 24-hour new cycles fundamentally changes what is required of non-executive directors today,” said Trina Gordon, president and CEO of Boyden World Corp. “The common themes of our Boyden study find that the right board composition, reshaping internal working models and assessing board effectiveness apply to both European organizations and companies across the globe.”
In addition to the changing role of non-executives, the report explores the following topics:
• Unintended consequences of increased regulation on a company’s strategic decision making.
• Importance of technical diversity, gender representation and international experience to operational and strategic discussions for global companies.
• Getting composition right as board functions become increasingly complex.
• The need for formal evaluation processes for non-executives.
• Intra-board dynamics and relationships with management – the right work style and “fit.”
• The value of placing successful entrepreneurs on boards and recruitment challenges.
• The mismatch between board members’ requirements and their compensation.
• The Boyden study also considers the road ahead for European boards as the role of governance continues to be shaped in a post-crisis world.
Source: Boyden World Corp.