Financial skills most valued for boards

Financial expertise in a potential board member is more important than industry or CEO experience, according to board members with only four per cent of respondents deeming financial expertise as “not important,”  whilst 79 per cent claimed it was important or critically important.  Meanwhile, two in three board directors believe that boards need to be refreshed regularly. Over half of respondents thought it important to refresh the board’s ranks often, whilst 16 per cent thought it  was “critically important.”  The research also revealed an increased emphasis on risk with cybersecurity one of the most cited areas of risk. The “What Directors Think” survey  was conducted amongst 592 directors by NYSE Governance Services in association with SpencerStuart.  Source: Inside Counsel