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04 June 2024 / Quick Take
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Copy LinkBoards get high marks for their effectiveness in traditional roles and areas of board expertise. According to the more than 600 C-Suite executives surveyed for the fourth annual Board Effectiveness: A Survey of the C-Suite report by PwC and The Conference Board, boards have a strong understanding of corporate strategy (80%), business risks and opportunities (71%), and executive compensation (70%).
At the same time, executives are less convinced of the board’s proficiency in emerging issues, with 52% saying the board has a good understanding of the impact of digital transformation and emerging technologies, and 51% expressing confidence in the board’s understanding of ESG risks and strategy. This might explain why just 30% of executives rate their boards’ overall performance as excellent or good.
Views of the board’s effectiveness are notably different by function: while 86% of CEOs and 64% of CFOs believe their board is doing an excellent or good job overall, only 28% of chief legal officers, 19% of chief operating officers, 17% of chief information officers, and 16% of chief human resources officers hold the same view. CEOs’ and CFOs’ more positive—and perhaps more informed—views of the board may be explained by their more frequent interaction with directors as we
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