do provide a wealth of knowledge having younger directors introduces a fresh

Do provide a wealth of knowledge having younger

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do provide a wealth of knowledge, having younger directors introduces a fresh perspective into the boardroom which should not be underestimated. A board should have directors of various ages. 5. Geography Geographic diversity refers to having a mix of individuals from various geographic locations on the board. Especially, if your company do business or seek to do business in some certain countries, it would be better for you to have at least one board director from that jurisdiction. In conclusion, the best practice of boardroom diversity should cover all the above-mentioned elements. The nomination committee should conduct a structured evaluation of the board of directors on an annual basis to identify ways to strengthen the board’s diversity. The nomination committee should also develop a succession plan for the board, recognizing that new director recruitment should be conducted strategically to help replace the skill-sets of retiring directors. The nomination committee should report to the full board on how it takes diversity into account when nominating candidates to the board. Boardroom diversity criteria and measurable objectives, or targets, should be present within a board diversity policy. A diversity policy should be developed by the governance and nominating committee and updated from time to time by this committee and recommended to the board for consideration and approval, to reflect the strategy, oversight responsibilities, and communities in which the company operates.
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  • Fall '19
  • Management, Chairman, Boardroom Diversity

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