Further to our "Enhancing Board Effectiveness: Here's How" and "Shaping Optimal Boardroom Dynamics" reports, Nasdaq's "Try These 5 Ideas to Foster Better Dynamics in Your Boardroom" shares a number of insights from a recent webinar that governance professionals may consider to improve their boardroom dynamics.
Notably, reboarding - a familiar concept that has not traditionally been associated with corporate boards - is suggested as an approach for re-energizing and refreshing a tenured board. Particularly increasingly relevant given the need for companies to respond appropriately and swiftly to a rapidly changing business environment, the article suggests deliberately baking a reboarding process into the board's ongoing education program so that tenured directors' understanding of the business and ability to meaningfully contribute stay fresh.
Additional suggestions include facilitating engagement between directors and management outside the boardroom, director site visits, actively monitoring and managing tensions and conflicts, and expanding board committees beyond the number required by the listing rules to better accommodate unplanned successions and committee member rotations.
This post first appeared in the weekly Society Alert!