Join Celia Huber, Michael Birshan, and Andy West as they discuss CEOs redefining their interactions with boards, optimizing board size for growth, navigating macroeconomic factors in strategy, and the path to board membership in a technological age.
CEOs are collaborating with boards to promote bold decision-making and adapt to rapid changes.
Boards are diversifying expertise to address technological advancements and industry trends for better strategic decision-making.
Deep dives
Changing Dynamics Between Corporate Boards and Management Teams
CEOs are increasingly collaborating with their management teams to make boards real partners in running successful companies. This partnership involves healthy skepticism, coaching, and support, promoting bold decision-making. Discussions have centered on shaping board compositions to address geopolitical and technological changes, as well as bringing fresh perspectives to boardrooms.
Enhancing Relationship Between CEOs and Boards
CEOs and CFOs are focusing on managing board relationships to enable bold decision-making and navigate uncertainty. The role of CFOs, especially in Europe and the UK, has evolved to become more essential in directly partnering with boards. There is an emphasis on preparing for managing resources strategically during uncertain times.
Importance of Contemporary Expertise on Boards
Boards are diversifying expertise by including individuals with varied backgrounds such as military, government, and active C-suite executives. The shift towards more contemporary expertise reflects the changing business landscape and the need for up-to-date knowledge. Board members are proactively educating themselves on industry trends like AI and cybersecurity to enhance strategic decision-making and challenge management biases for faster portfolio rotation.
CEOs and CFOs are redefining their interactions with the board to ensure success in an era of rapid change. Joining us to delve into this growing trend of collaboration between CEOs, management teams, and boards are Celia Huber, leader of our North American board services practice, along with Michael Birshan and Andy West, the co-leaders of our Strategy and Corporate Finance Practice.