Insight

On the 2022 private company board agenda

Eight issues for private company boards to keep in mind as they consider and carry out their 2022 agendas.

As the country focuses on reopening and companies reposition for the future, it is increasingly clear that resilience—of strategy, the organization, and operating muscle—is proving to be the great differentiator of the pandemic era. From pivoting to “remote everything” and focusing on workforce well-being to deepening digital engagement with customers and recalibrating supply chains, the ability to quickly adapt to dramatic disruptions and dislocations has defined the survivors and thrivers.

The unprecedented events of the past two years have clearly put corporate governance processes, including board oversight, to the test. Additionally, robust capital markets have compelled private companies of all sizes to reconsider their long-term financing strategy. Available U.S. private equity funding is approaching $1 trillion; private equity financings are on-pace for record deal and dollar volume; and, public markets have welcomed a record number of initial public offerings—in traditional corporate sales, direct listings, and special purpose acquisition companies (SPACs). Other factors impacting boardroom discussions include questions and expectations related to ESG performance, such as climate risk, increased cybersecurity risks and ransomware attacks, economic and supply chain challenges, and a fast-changing tax and regulatory landscape.

Drawing on our research, insights, and interactions with directors and business leaders, we highlight eight issues for private company boards to keep in mind as they consider and carry out their 2022 agendas:

  • Think strategically about talent and diversity in the boardroom.
  • Deepen the board’s engagement in strategy and envisioning the future.
  • Help set the tone and closely monitor the culture of the organization.
  • Embed ESG, including climate risk and DEI, into risk and strategy discussions.
  • Make talent, human capital management, and CEO succession a priority.
  • Approach cybersecurity and data privacy holistically as data governance.
  • Reassess the company’s crisis prevention and readiness efforts.
  • Stay apprised of global tax developments and risks and understand that tax has become an important element of ESG.

Also see our other 2022 board and 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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