Wednesday, 19 October 2011

PwC Annual Corporate Director survey 2011 - more time for Risk?

PwC kindly fired out the findings from their (US-centric) poll of corporate directors. Decent sample at 834 respondents, and two-thirds were sitting on boards with $1bn+ in revenue, so worth heeding. Both RM Professional and Norman Marks have taken it to task, so I won't dwell on the findings other than the following;
  • 72% would reconsider pay awards in the face of "significant shareholder dissatisfaction" - just wondering what "significant" is.
  • Relatively little planned change in reaction to clawback legislation embedded in Dodd-Frank
  • Almost 60% of boards wanted to spend more time on Risk Management, putting it third behind Strategic and Succession planning
  • Less than 10% plan further than 5 years ahead
  • Almost half discuss strategy viability no more frequently than annually
  • Amusingly, both racial and gender diversity is referred to as a "Skillset/Attribute" - 23% find it very difficult to obtain directors with the racial "attribute", while 15% struggle to get the "gender" one!
Handy in its own way for the Europeans amongst us as a proxy, a more pertinent document for the statesiders.

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