Disruptions abound in today's business world. Some stakeholders want boards to become more diverse, and increasingly vocal shareholders want to communicate differently with company directors and management. Technology is drastically altering the world of business, presenting vast new opportunities and increasingly pronounced risks.
Things are changing in the corporate governance world. New trends are starting to emerge and take hold. They’re influencing perspectives and practices in the boardroom.
Debate over the role of company boards invariably intensifies when things go wrong on a grand scale, as has happened in recent years. Not surprisingly, there’s been a renewed focus on improved corporate governance: better structures, more rigorous checks and balances, and greater independence by non-executives, for example.
Governance arguably suffers most, though, when boards spend too much time looking in the rear-view mirror and not enough scanning the road ahead. We have experienced this reality all too often in our work with companies over several decades. Today’s board agendas, indeed, are surprisingly similar to those of a century ago, when the second Industrial Revolution was at its peak. Directors still spend the bulk of their time on quarterly reports, audit reviews, budgets, and compliance—70 percent is not atypical—instead of on matters crucial to the future prosperity and direction of the business.
The mission of PwC’s Boardroom Forum is to help directors effectively meet the challenges of their critical roles. We do this by sharing governance leading practices, publishing thought leadership and offering forums on current issues where we can share our insights into significant governance challenges and developments. This helps directors comply with evolving expectations and regulations.
The PwC Boardroom Forum website provides timely insights on corporate governance issues and trends to enable Board members to more effectively meet the challenges of their critical roles