In 2019, the Millstein Center launched a new network to bring together board and committee chairs in an intimate, regional peer-to-peer setting to discuss the challenges and opportunities they face, with a particular focus on concerns relevant to chairs of nominating and governance committees (“Nom-Gov Chairs”).
As the need for stronger boards (and therefore stronger, more engaged directors) grows, board and committee chairs have a critical leadership role to play.
Nom-Gov Chairs in particular play an important role in the identification, recruitment, selection, and evaluation of individual board members. Too often, board composition is backward-looking, reflecting a company's past rather than its future. Nom-Gov Chairs must also ensure that the board achieves the diversity of thought and experience necessary to achieve optimal results. Nom-Gov Chairs lead the evaluation and performance review process of the board and its members, assessing and inventorying the current directors’ capabilities relative to the company’s prospective needs. They can strongly influence boardroom culture and help structure how proactively and where the board spends its valuable time.
The first session of the forum, held on October 15, 2019 in Houston, Texas, focused on ESG issues within the energy sector.
Topics that the Forum will address going forward include, among others:
- director nomination and recruitment processes,
- director and board quality and engagement,
- director and board evaluations,
- board composition and diversity,
- board culture,
- board interaction with investors and other stakeholders, and
- the relationship between the Board Chair, CEO, and Nom-Gov Chair.
The Forum will convene board and committee chairs to discuss these and other key issues and provide practical information that chairs can use to lead their committees and boards to success. The publication of meeting summaries and research related to the topics and discussions of the Forum will further advance the dialogue and practices around the vital role of board and committee chairs.
If you are a board or committee chair that is interested in joining the Governance Leadership Forum, or for more information, please contact the Center's Executive Director, Kristin Bresnahan, at email@example.com or 212-854-0083.