- Posted by Intersect International
- On July 9, 2020
We can all agree that 2020 is a defining year for businesses and organizations globally. Given the continued uncertainties many boards considered postponing or even, eliminating the annual review of board and director effectiveness. Recently Vandana Vaidyanathan and Marylee O’Neill of Intersect International wrote an insight piece on the why Board and Governance Chairs should not postpone or skip this critical governance practice this year.
Here are six reasons why:
- Shifts in environment and organizational strategy require a Board reset.
- Underlying Board challenges are amplified under stress.
- This crisis has created new requirements in Board composition.
- Board leadership and overall board succession planning has become more critical.
- Effective board dynamics is the defining feature of high performing boards during this pandemic and beyond.
- This is the time for in-depth governance reflection, recalibration, and focus.
Board and director reviews should never be treated as a dispensable exercise. If it feels that way, then it is time to change the approach. There is no question that these are unprecedented times, but good board governance is more important than ever. Full Article: The Governance Gift of 2020