Board directors surveyed felt their peers were reluctant to challenge company leadership, overstepped bounds or threw off the dynamic of the board. Despite this, board turnover in 2018 was low, and most was attributable to retirement. S&P 500 companies refreshed the equivalent of less than one seat per board last year, according to PwC.
The lack of turnover, coupled with peer dissatisfaction, likely stems from ineffective performance assessments, the results suggest. Less than two-thirds of directors surveyed said their board conducts assessments of its members, but only 15 percent provided counsel for an underperforming peer or chose not to renominate someone, according to PwC.
The survey is based on responses from more than 700 board directors. Read more here.
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