According to a new report by Gartner, only 38% of company boards record high director quality and positive social dynamics. This alarming statistic has sparked calls for general counsels (GCs) to get personally involved in the recruitment and growth of prospective board candidates. The report further reveals that despite the pivotal role of effective boards in holding executives accountable, contributing to corporate governance, strategy, and risk management, half of the GCs believe their board is not entirely effective.
James Crocker, the director of research for Gartner’s legal and compliance practice, emphasizes the importance of GCs refocusing their attention from just director onboarding and education towards improvement in recruitment strategies. This shift in focus is indicated to boost the overall effectiveness of company boards, thereby enhancing corporate governance.