Wednesday - November 30, 2022 | News & Views | 3 min read
We have witnessed the great resignation of employees. Will we witness the same in the boardroom? New forum will bring together board directors around the world to shape the future of company leadership.
Toronto, November 30, 2022: Board directors are under constant pressure and work hard to keep their companies successful in the face of many competing challenges, including: the COVID-19 pandemic, the great resignation of employees, supply-chain disruption, geopolitical dilemmas, inflation and a looming recession. Add to this list the heightened risks board members also face due to new disclosure regulations and expectations from regulators, shareholders, financial institutions, employees, customers and insurance providers.
As a result, board directors are increasingly debating if their board positions are worth these heightened reputational, financial and legal risks.
Many countries around the world, including the European Union, are increasing their demands on boards and their responsibilities related to ESG, climate and diversity. In the US, the Department of Justice is also increasing its scrutiny on antitrust measures, while large asset managers and proxy advisory firms have declared that board members will not be voted for unless diversity, climate, and related measures are followed.
But it is not only corporate boards that are under increased pressure. In the US, only 38% of school board members plan to run for reelection, down from more than 70% of incumbents who ran for reelection in 2016. And given the pressure on healthcare, a similar trend is likely to follow suit.
Given the rash of aforementioned crises, good leaders are needed more than ever to design a blueprint for the boardroom of the future, who are better equipped to take on the challenges companies and society face.
“We believe this is the time to design the future boardroom, its purpose, its tasks and the skills needed,” says Helle Bank Jorgensen, Founder and CEO of Competent Boards. “Now is the time to determine the outcomes we expect from board directors and design a roadmap for the future.
“We cannot do this alone, so we are inviting all who are interested in helping form the Future Boardroom to help us create a playbook for current and future board directors for this boardroom transformation.”
The Future Boardroom is open for all leaders to join and will collect and share insight about the changing demands, regulations and expectations of boardrooms around the world.
About The Future Boardroom
The Future Boardroom is an initiative of Competent Boards and its partners. Competent Boards will bring together the leaders of today and tomorrow, who have the insight and influence to design the blueprint for future boardrooms. Leaders are asked to share their questions, concerns, views, and wisdom. For more information on this new collaboration platform for current and future board directors and their advisors, sign up for updates at www.competentboards/TheFutureBoardroom.
About Competent Boards
Competent Boards™ is the original and world-leading provider of online environment, social, governance (ESG) and climate education programs for board directors, senior business leaders and investors across the globe. More than 180 of the world’s top board members, C-suite executives, investors and other experts make up the faculty who deliver the programs. Competent Boards was founded by Helle Bank Jorgensen, who is also the author of the Amazon bestseller, Stewards of the Future: A Guide for Competent Boards. For more information, visit https://competentboards.com.
Anabel Labastida, Competent BoardsBack To News & Views