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What’s a board to do? The overboarding debate is reengaged by a perceived need for experience in the boardroom to deal with the risks of Covid-19 and its governance challenges. It is crisis experience and shared insight versus fresh thinking and commitment. Have we now overdone “underboarding?”
Recent reports and surveys show significant changes to board of director diversity among California publicly traded corporations. This follows the state mandate that boards have at least one female director by the end of 2019. According to independent corporate governance surveys, among the larger companies 96% have at least one woman director. There have also been large increases in the number of boards with two, three, or more women directors. 94% of the new directors joined the boards as outside directors.