In 2024, pressures on management and boards will increase significantly as companies contend with uncertainty and disruption as well as demands for increased transparency amid new regulations and heightened stakeholder expectations around climate change, cybersecurity, human capital management (HCM), artificial intelligence (AI), and other issues. Boards will need agility and fortitude to rise to the challenge of effective oversight.
In light of this, nominating and governance (nom/gov) committees will want to reevaluate the appropriate director skill sets and committee structure to oversee the company’s strategy, risks, and opportunities as issues evolve and new opportunities and challenges arise. The committee will also need to work with board leadership to establish and maintain a culture where the ability to adapt and the robustness of disclosures are viewed as vital to effective governance in today’s high-speed world.
