How Can Companies Improve Their Board Composition?
Companies can take several steps to improve their board composition:
Conduct a board evaluation to identify gaps in skills and experiences. Implement a formal process for board nominations to ensure candidates are thoroughly vetted. Prioritize diversity in new board appointments to bring different perspectives. Provide ongoing education and training for board members to keep them informed about emerging trends and challenges. Rotate board members periodically to bring fresh ideas and prevent stagnation.