Senior Client Partner and Head of Board Effectiveness Practice at Korn Ferry - all views shared on LinkedIn are my own
We are excited to announce the 2024 edition of The State of Board Evaluations in the US has been published. As in previous years, Korn Ferry partnered with Gibson Dunn to review the board evaluation practices for S&P 500 companies as disclosed in their proxy statements. This is one of the largest analyses on the state of board evaluations in the U.S. Thanks to my fellow authors Christine Abbamonte, Sarah E. Oliva, Joseph E. Griesedieck. Below are a few highlights from the report: * Improvements in several categories including companies varying their process from year to year; companies engaging a third party; companies conducting individual director evaluations as part of their board evaluation; and companies conducting interviews as part of the evaluation process * Although 35% of companies disclose using third parties, it is still unclear what role third parties are playing * Few companies disclose the involvement of senior management in the evaluation (5%) which feels like a missed opportunity for valuable feedback * Disclosures about changes following board evaluations have remained consistently low, at only 21% #corporategovernance #boardsofdirectors #boardevaluation
David Curran
2w
Really helpful Anthony Goodman, but boy do boards and this process still have a long way to go to even get near the kinds of rigorous processes their companies deploy in other areas. Most of these are common sense and obvious.
A great report with a lot of key insights on the state of board evaluations! Congratulations on the release.