A core responsibility of the nominating/governance committee is the oversight of the composition of the board and its committees. Board and committee composition lie at the heart of board effectiveness.
The ideal board comprises a diverse group of directors from widely varying backgrounds offering complementary expertise who work well as a team and who possess the skills necessary for board and committee work. The ability to recruit the right directors and integrate them successfully is one of the clearest indicators of a high-functioning board.
This article highlights best practices and considerations for board composition and board assessment, including:
- Recruitment considerations, including business strategy, independence requirements, committee needs and diversity
- Onboarding best practices
- Board leadership
- Turnover trends
- Corporate governance principles
- Continuing director education
- Board evaluations - five key principles
- Individual director evaluations
- Board evaluation disclosures