Nasdaq Survey Report

2023 Global Governance Pulse

Review the results and insights from a global survey that polled over 730 board members, executives, and governance professionals across organizations and industries. The cross-section of respondents and organizations provides a broad view of corporate governance practices and principles.

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The requirements and demands on boards continue to evolve in complexity and breadth

This led the Nasdaq Board Advisory team to capture insights into corporate governance trends and practices and anticipate 2024 board priorities. The survey included questions that explored four key areas:

Board composition and culture

Board assessments, CEO evaluations, and management oversight

Governance structure, practices, processes, and tools

Strategy, risks, and topics on the horizon

Key Findings

Board composition must be developed through thoughtful and intentional succession planning

42% report they have a formalized and documented succession plan that is reviewed by the board or a delegated committee.

When asked what would help strengthen board succession planning practices, boards prioritize determining specific board member profiles.

: 42% report they have a formalized and documented succession plan that is reviewed by the board or a delegated committee.

When asked what would help strengthen board succession planning practices, boards prioritize determining specific board member profiles.

Having a well-designed evaluation process to address priorities identified via the results reflects commitment to effective corporate governance

Only 7% indicate their board’s evaluation process results in developing specific action plans to address opportunities, weaknesses, and risks, a commonly identified deficiency of board evaluations.

The scope and cadence of board evaluations are also important aspects in designing and implementing the right process.

: Only 7% indicate their board’s evaluation process results in developing specific action plans to address opportunities, weaknesses, and risks, a commonly identified deficiency of board evaluations.

The scope and cadence of board evaluations are also important aspects in designing and implementing the right process.

Boards have adopted new practices and tools that lead to greater efficiencies, deepened engagement, and enhanced information sharing

Finding ways to be more efficient and data-informed will continue to be important given the expectations and requirements of board service.

84% indicate they expect increased or sustained scrutiny and time requirements for board service.

: Finding ways to be more efficient and data-informed will continue to be important given the expectations and requirements of board service.

84% indicate they expect increased or sustained scrutiny and time requirements for board service.

Boards want to drive focus on strategy and risk matters to promote organizational success and maintain strong competitive positioning

For organizations to derive greater value from their boards, 25% indicate the need for boards to have a deeper understanding of business conditions, industry trends, competitive landscape, and legal and regulatory environments.

In assessing which areas will impact organizational success over the next 12 months, having a clearly defined and articulated strategy and goals is top of the list.

: For organizations to derive greater value from their boards, 25% indicate the need for boards to have a deeper understanding of business conditions, industry trends, competitive landscape, and legal and regulatory environments.

In assessing which areas will impact organizational success over the next 12 months, having a clearly defined and articulated strategy and goals is top of the list.

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