![]() ![]() Director certifications, such as Diligent’s Cyber Risk & Strategy and ESG Leadership certifications, provide leaders with the knowledge they need to have meaningful conversations about these key issues. Shareholders have a growing list of concerns they associate with the company’s success, and as a result, pressure is rising for directors to bolster their knowledge around key issues like cybersecurity and ESG. ![]() Upskilling accomplishes similar goals by strengthening and broadening the board’s oversight capabilities. Diverse viewpoints and skillsets empower the board to tackle complex issues with holistic expertise. It must be approached as a strategic path toward organizational resilience. Over that same period, the share of newly-appointed directors who came from “non-traditional” professional backgrounds rose from 13.0% to 18.9%.Ĭrucially, as the research shows, diversity can’t be treated simply as a box to be checked. From 2019 to 2021, the share of newly-appointed directors who came from a “traditional” CEO/CFO/COO background declined from 59.4% to 56.0%. This gives the board the ultimate competitive advantage of adaptability. Cultivating multiple perspectives in the boardroom prevents high-level strategy from overlooking or underestimating the risks that will define the next decades of business.Ī diverse board also fosters a dynamic environment that draws on different business backgrounds to navigate complexity with a wide array of knowledge and skills. The next step forwardĪccording to research by Diligent, to address these new challenges, boards are employing two key strategies: diversifying board composition and upskilling the current board.ĭiversity is an indispensable component of modern boards. These factors are harder to quantify, but ignoring them can leave the board (and the company they oversee) unprepared for a new generation of risks and opportunities. Rather, they must take into consideration non-financial metrics such as ESG, cybersecurity and stakeholder engagement. But the changing business landscape means that today’s board can’t rely solely on these metrics. Previously, the board leaned heavily on financial metrics - because they were easy to quantify, and because there was a well-developed paradigm for analyzing them in terms of the company’s general strength. Now, boards find themselves needing to address a broad range of issues - from risk oversight to cyber resilience to diversity and ESG - as they take on a more central role in risk management and the development of long-term strategy.Īs a result, the metrics guiding board decision-making have expanded. Historically, boards have been treated as a simple mechanism for hiring and firing CEOs. So, how does a company earn their spot on the Modern Board 25? To put the list in perspective, we’ve put together an overview of how the boardroom is changing and how forward-thinking companies are using this transformative period to their advantage. Drawing on research from Diligent, the list highlights organizations that are blazing a new path for governance professionals and setting an example for others. With companies accountable to a wider array of stakeholders, new regulatory and societal pressures are pushing boards to broaden their responsibilities.įortune’s Modern Board 25 list celebrates boards that do exemplary work meeting today's challenges. Please ().The business world is changing, and the corporate boardroom is changing with it. In order to use this app, you need to have ‘Diligent Director’ access. Action votes, resolutions or written consents with signature-based voting, real-time voting tallying, and providing commentary.Mark up meeting materials and create shared or private notes to prepare for an upcoming meeting.Keep pace with the market through ESG news and reputation monitoring, real-time analytics and market intelligence.Track the amount of time left to discuss the current agenda items relative to the time designated per item.View the agenda as set in Diligent’s Agenda Builder within the Microsoft Teams meeting window.Keep pace with the presenter of the meeting by following the position in a book to ensure users stay on the right page.Access their unique version of a board book or committee materials as shared in Diligent Boards within a Microsoft Teams meeting.With Diligent Boards for Microsoft Teams users can: With purpose-built functionality for Microsoft Teams, Diligent Boards provides users with critical meeting and governance information to save time, be more efficient and protect document privilege. Make board & committee meetings more efficient and productive with instant access to the information directors and executives need before, during and after meetings in a centralized, secure environment. Access Diligent Boards – the world’s leading board management software – in Microsoft Teams.
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