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Why corporate boards are becoming more engaged

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By illuminem briefings

· 1 min read

illuminem summarizes for you the essential news of the day. Read the full piece on Forbes or enjoy below:

🗞️ Driving the news: Corporate boards are becoming more engaged, with members spending time understanding company operations and connecting with employees, according to Heidrick & Struggles’ latest Board Monitor study

🔭 The context: The shift is significant over the past decade, accelerated by the COVID-19 pandemic
• Boards are now seen as competitive assets, with diverse thinking and experience being highly valued

🌍 Why it matters for the planet: Engaged and diverse boards can lead to more responsible and sustainable business practices, positively impacting ESG efforts and corporate governance

⏭️ What's next: The trend is expected to continue, with increasing demand for board members possessing AI skills, emerging market knowledge, and strong risk management abilities

💬 One quote: “Boards were already evolving and then we hit Covid and that caused, I think, a faster evolution,” said Bonnie Gwin, vice chair and co-managing partner of Heidrick & Struggles’ global CEO and board of directors practice

📈 One stat: Nearly eight in ten middle market companies are integrating AI, compared to 28% of small businesses

Click for more news covering the latest on corporate governance

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