PwC and The Corporate Board recently released an executive survey of more than 500 members of public company C-suites, examining the relationship between management and the board. While executives appreciate the freedom their boards offer to run their organizations, many feel the board needs a refresh, with 82 percent of executives responding that at least one director should be replaced. Key reasons for this deteriorating confidence in board performance among management include:
- Only 37 percent of executives feel board members come to meetings fully prepared.
- 44 percent of executives believe advanced age has led to diminished performance among the board.
- 38 percent of executives think their directors serve on too many boards, hindering their ability to focus on their individual roles.
While the relationship between the C-suite and the boardroom is becoming contentious, directors and management can move toward improvement together.