One of the more striking revelations in our most recent quarterly Director Sentiment Monitor (DSM) survey (Q3 2021) was the finding that 34% of respondents said that their primary board doesn't have a succession plan in place to replace board members. Coupled with the finding that 45% of respondents said they were recruited as a result of a ‘direct approach from a member of the board/the board’, it is a cause for some concern that some boards are not future-proofing their business nor planning for board diversity, which is essential for an effective, high-performing board. Some boards are still relying exclusively on their own networks, which is neither an open, transparent, nor independent process.
