PwC analyzed board directors’ perceptions on the challenges and changes they face in 2023.
A survey of 619 directors from global companies across a variety of industries was conducted in spring 2023.
Key findings include:
1.) 45% of directors think someone on their board should be replaced.
— However, only 11% of directors say their board’s assessment processes led to the decisions not to renominate a director.
2.) 82% of directors believe diversity enhances board performance, but 55% believe board diversity is motivated by political correctness.
3.) 61% of female directors said ESG issues have a financial impact on company performance, compared to 35% of male directors.
4.) 96% of directors are confident their board can navigate a crisis, but 48% said their boards do not have a formal crisis management escalation policy.
