Experience in risk management and strategy-minded directors are also a focus for boards, writes Greg Lau, head of the board advisory practice at RSR Partners, in an e-mail. Diversity in terms of gender, race and age has been a major push in recent years, sources say, but diversity of background and global experience are other key features in building a strong board…
“The top four ‘newer’ skills in my mind are risk management, being a strategic thinker, having global experience and marketing expertise,” Lau writes. “The major [skill] gaps on boards at present are strategy, digital marketing, diversity of thought and experience, and having a senior chief human resources officer on the board to oversee talent, compensation and governance…”
…“[Boards are looking for these traits] to improve the board’s performance,” Lau writes. “Also, institutional investors and activists are focusing on the board and its skills, experience and governance, with the aim of overseeing and monitoring strategic plans that are dynamic and constantly in flux.”
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