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	<title>The Harvard Law School Forum on Corporate Governance</title>
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	<title>Board Refreshment &#8211; The Harvard Law School Forum on Corporate Governance</title>
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		<title>Board Refreshment</title>
		<link>https://corpgov.law.harvard.edu/2021/03/26/board-refreshment/?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=board-refreshment</link>
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		<pubDate>Fri, 26 Mar 2021 13:09:13 +0000</pubDate>
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				<category><![CDATA[Boards of Directors]]></category>
		<category><![CDATA[Comparative Corporate Governance & Regulation]]></category>
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		<category><![CDATA[Board performance]]></category>
		<category><![CDATA[Board tenure]]></category>
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		<category><![CDATA[Director tenure]]></category>
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		<description><![CDATA[Every year, as part of PwC’s Annual Corporate Directors Survey, we ask directors to evaluate the performance of their peers, and whether any of the members of their board should be replaced. The share of respondents who say one or more of their fellow directors should go has been rising, and in 2020 it reached [&#8230;]]]></description>
				<content:encoded><![CDATA[<hgroup><em>Posted by Maria Castañón Moats, Paul DeNicola, and Leah Malone, PricewaterhouseCoopers LLP, on Friday, March 26, 2021 </em><div class='e_n' style='background:#F8F8F8;padding:10px;margin-top:5px;margin-bottom:10px;text-indent:2.5em;'><strong style='margin-left:-2.5em;'>Editor's Note: </strong> <p style="margin:0; display:inline;">Maria Castañón Moats is Leader, Paul DeNicola is Principal, and Leah Malone Director at the Governance Insights Center, PricewaterhouseCoopers LLP. This post is based on their PwC memorandum.</p>
</div></hgroup><p>Every year, as part of PwC’s <a href="https://www.pwc.com/us/en/services/governance-insights-center/library/annual-corporate-directors-survey.html"><em>Annual Corporate Directors Survey</em></a>, we ask directors to evaluate the performance of their peers, and whether any of the members of their board should be replaced. The share of respondents who say one or more of their fellow directors should go has been rising, and in 2020 it reached 49%. Given the importance of collegiality to a well-functioning board, that may seem surprisingly high.</p>
<p>But it’s nothing compared to what C-suite executives told us when we asked them the same question. More than four in five (82%) said at least one of their company’s board members should be replaced. And 43% said two or more directors need to go.</p>
<p>These insights, drawn from our recent study <a href="https://www.pwc.com/us/en/services/governance-insights-center/library/board-effectiveness-survey.html"><em>Board effectiveness: A view from the C-suite</em></a>, are bound to be discomfiting to many directors. Candid feedback from management teams on board performance is rare. But it’s extremely valuable, especially when it confirms what many directors already recognize—namely that board composition and refreshment deserve a closer look.</p>
<p>Here are the actions boards can take now to focus their efforts.</p>
<p> <a href="https://corpgov.law.harvard.edu/2021/03/26/board-refreshment/#more-136992" class="more-link"><span aria-label="Continue reading Board Refreshment">(more&hellip;)</span></a></p>
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