With 2016 upon us, boards are likely to reflect on the
organizational challenges they expect to face in the coming year,
and to develop effective strategies to tackle these challenges. A
recent EY publication anticipates that in developing
these strategies, boards will focus their energies on addressing
the following five critical challenges:
1. Board effectiveness, composition and refreshment
Boards are always looking for ways to self-improve. It is
expected that 2016 will be no different in this respect. Boards
will seek ways to attain the right mix of skills and experience and
to enhance transparency and accountability. Particular attention
will be paid to achieving board composition reflecting a greater
diversity of knowledge and experience to mirror the increasing
convergence of sectors and rising global interconnectivity.
Demographic changes should give boards pause for thought on
establishing an effective succession planning strategy. Among
Fortune 500
