Engage the board
| | New from McKinsey & Company | | | | | | What's one of the most daunting challenges CEOs face? Engaging the board, say McKinsey senior partners Carolyn Dewar, Scott Keller, and Vikram Malhotra, as they talk about their forthcoming book, CEO Excellence: The Six Mindsets That Distinguish the Best Leaders from the Rest (Scribner, March 15, 2022). Why? Directors are at the pinnacle of governance—the CEO's boss—yet there are many of them, they work part time, and rarely have a deep understanding of the business. The proof is in the pudding: only 30 percent of executives report that their boards' processes are effective. | | | CEOs who view their board as a valuable resource to tap into versus a group to be managed tend to see better performance and higher market valuations. That's based on more than 20 years' worth of data on 7,800 CEOs from 3,500 public companies across 70 countries and 24 industries. | | See what the authors have to say about how the best CEOs engage their boards in this fourth video of a seven-part series, and stay tuned for more on the #CEOExcellenceBook in the weeks ahead. | | | | | | | "The board really needs to understand the business, and helping them to do so is something that a CEO should feel it's their duty to do—board members need to know the market, the opportunity, the threats, the internal players, the external." | | | | | | | | | | | | | | | | | | | Did you enjoy this newsletter? Forward it to colleagues and friends so they can subscribe too. | | | Was this issue forwarded to you? Sign up for it and sample our 40+ other free email subscriptions here. | | | | This email contains information about McKinsey’s research, insights, services, or events. By opening our emails or clicking on links, you agree to our use of cookies and web tracking technology. For more information on how we use and protect your information, please review our privacy policy. | | You received this email because you subscribed to our Corporate Finance alert list. | | | | Copyright © 2022 | McKinsey & Company, 3 World Trade Center, 175 Greenwich Street, New York, NY 10007 | | |
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