Board Succession Planning – 10 Winning Steps

Finding the right directors has always been important to boards. However, three things have recently changed. First, there is heightened interest from shareholders about board composition and qualifications of board directors. This is especially true at companies that miss performance targets. Second, the lack of diversity in boardrooms is increasingly capturing public attention. Third, directors are being held accountable for their action, or inaction, either through “no” votes or via shareholder lawsuits. One way to mitigate risk associated with all of the above is to proactively and regularly focus on the composition of your board and the qualifications of your directors.

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