PwC Corporate Director Survey Takes Temperature of Boardrooms
PwC recently released its annual boardroom report, which surveys 600 corporate directors on various governance topics. Key findings from the survey:
55% percent of the directors surveyed believe that a member of their board should be replaced, up from 49% in 2024. The top reasons given: Directors did not contribute meaningfully to discussions (41%), and long tenure has led to diminished performance (34%).
88% of directors believe they can contribute to board effectiveness and cited several ways. Around 45% surveyed said expanding their expertise through additional education or training was a priority, while others emphasized building better relationships with fellow directors (33%). Others said encouraging diverse viewpoints or innovation (25%) and being more willing to speak up during discussions (24%) could contribute to board effectiveness.
78% of survey participants said their boards’ self-assessment does not provide a complete picture of overall performance, and 51% said their boards are not sufficiently invested in the self-evaluation process. PwC noted that these results suggest “many directors view the board assessment process as a compliance exercise that may satisfy governance requirements but fails to drive real change.”
Click here to find the survey and report.