Print
E-MailRay Garcia is a Partner, Paul DeNicola is a Principal, and Catie Hall is a Director at PricewaterhouseCoopers LLP. This post is based on a PwC memorandum by Mr. Garcia, Mr. DeNicola, Ms. Hall, and Ariel Smilowitz.
Introduction
The role of a corporate director has never been more challenging — or more critical. 2025 has continued to usher in a wave of disruptive forces, ranging from an uncertain regulatory environment and geopolitical instability to artificial intelligence (AI) transformation. The complexity of board responsibilities is only expanding under the weight of these external pressures, demanding a deeper commitment and more active participation from directors to provide effective oversight.
As this complexity has grown, so has a sense of dissatisfaction among directors about the boardroom experience. For the first time, PwC’s Annual Corporate Directors Survey reveals that more than half of directors believe at least one fellow board member should be replaced. What is fueling this perception of underperformance? Is it a lack of commitment or specialized expertise? Or is it symptomatic of deeper cultural barriers that limit open, candid dialogue in the boardroom?
Our survey of over 600 public company directors suggests that simply relying on current practices or maintaining the status quo is no longer sufficient. Just as executives and employees have continually reinvented themselves to stay relevant, board members must adapt and evolve for the success of their companies.
Encouragingly, directors overwhelmingly agree they have the capacity individually to drive board improvement through enhanced education, stronger interpersonal relationships, and a greater willingness to speak up and challenge prevailing norms. Nonetheless, many boards appear hesitant to directly address individual underperformance.
In fact, directors tell us there’s a clear need for a transformative shift in how boards operate and how directors hold one another accountable. The cost of inaction is too great, not only in financial terms but in possibly eroding the confidence of key stakeholders.
By shining a light on and providing practical guidance to tackle these issues, we hope our Roadmap for accountability empowers directors and executives to champion a culture that elevates boardroom performance.
Key findings
Link to the full report can be found here.
