2020 was a true test of agility and courage as boards quickly adapted to meet COVID-19’s challenges—on the company’s financial status, the health and well-being of stakeholders, and the global economy. Political uncertainty and a volatile economy increased the challenges, and the complexity of board oversight grew as companies reassessed their culture and demographics in the aftermath of the killings of George Floyd, Breonna Taylor, and others.
Drawing on insights from our work and interactions with nom/gov committee members, board chairs, lead directors, and board governance and business leaders, we highlight seven items for nom/gov committees to keep in mind as they consider and carry out their 2021 agendas:
- Develop a clean-sheet view of boardroom excellence.
- Evaluate the director skills and experience necessary to oversee both short-term and long-term needs.
- Prioritize board diversity and disclosure.
- Update director succession and recruitment practices for a COVID-19 world and beyond.
- Optimize the flow of information and the cadence of meetings.
- Assess director pay in light of recent trends.
- Stay current on shareholder priorities ahead of the 2021 proxy season.
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Seven considerations for nom/gov committees as they shape their 2021 agendas.
Also see our other 2021 board committee messages
KPMG's annual messages to directors focusing on the critical issues that should be high on board, audit committee, nominating and governance committee, compensation committee, and private company board agendas.
KPMG's annual messages to directors focusing on the critical issues that should be high on board, audit committee, nominating and governance committee, compensation committee, and private company board agendas.
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