Nasdaq Releases Article on Board Service During “Noisy” Times

The Nasdaq Center for Board Excellence recently released an article titled “Back to Basics: Focusing on Board Service in an Era of Noise.” While the article focuses heavily on issues that corporate directors face, there are several key takeaways for fund directors, including: the pressure of increased scrutiny; changing technology; increased areas of risk; and workforce competition pressures. The article notes that to fulfill their role, boards need to stay abreast of new developments and continue their intellectual curiosity. Additionally, the article states that “[e]ach person at the table has a duty to contribute to discussions by asking questions and, when necessary, challenging groupthink.” According to the article, boards can accomplish these goals by fostering an environment of learning, trust, and transparency, as well as emphasizing the importance of evaluations and assessing board culture. The article also reminds boards of the importance of awareness of any skills gaps and either place an emphasis on recruiting a new director with that specific skill set or improving their own knowledge base.

Click here to read the Nasdaq article on getting back to the “basics” of board oversight.