Recent press coverage and updated proxy voting guidelines suggest that board refreshment is a topic on fire. It’s a subject that inspires strong feelings and competing perspectives on director tenure or board diversity—or both. Yet, these incendiary dialogues scarcely help a board in considering what is best for its company and shareholders. We suggest boards step back and review their composition in light of the company’s goals and needs in three areas: Board Self-Assessments, Succession Planning and Shareholder Engagement.
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