In their new white paper, Jim Whittle, head of our Tokyo office, and Carter Burgess, head of our Board Recruiting Practice, offer their latest insight into the dynamic transformation occurring in Japanese boardrooms.
Published this week, Let the Outsiders In: Reforming Japanese Corporate Boards examines how Japanese companies are rushing to fill board seats with outside directors following the enactment of new corporate governance reforms by Prime Minister Shinzo Abe’s administration.
Whittle and Burgess write:
“…Appointing more outsiders to boards is not a panacea that will immediately change the business culture of Japanese companies, with their famously compliant boards. Instead, companies must hire experienced, globally-minded senior executives to their boards of directors, who will open management to independent scrutiny, work for shareholders, and make themselves more competitive and profitable… Ultimately, what matters most is not how many outside directors a company has, or whether they are female or foreign, but whether those outside directors are truly independent and resolute about holding management accountable and prioritizing shareholder interests.”
To read the full white paper, click here.