Russell Reynolds' “Board Refreshment and Succession Planning in the New Normal” simplifies the complex topic of board refreshment with a 4-step corporate strategy-focused framework and insights about common missteps companies make that undermine the succession planning process. Among the common errors: failing to benchmark changes in board composition over time against peers notwithstanding investors' tendency to do so, which may generate legitimate questions about the board's planning approach; failure to drive composition with corporate strategy; and failing to affirmatively seek information from directors that - if known - would reveal unexpected departures (on the board, as well as the key committees) well in advance.
Access additional information & resources on our Board Recruitment & Succession/Refreshment page.
This post first appeared in the weekly Society Alert!