WASHINGTON, Dec. 16, 2015 (GLOBE NEWSWIRE) -- The National Association of Corporate Directors (NACD), the advocate for the profession of directorship, today announced the release of Governing the Global Company: Oversight of Complexity, a report developed in partnership with Marsh & McLennan Companies (MMC).
Download a complimentary copy at www.NACDonline.org/Global.
Accelerating globalization presents new challenges for corporate governance and oversight. As businesses expand their international operations, boards of directors will need to mirror their companies’ geographic diversity and knowledge. This report highlights the necessity for boards to respond to evolving global governance demands in three areas:
- Board composition, with an emphasis on geographic diversity and international experience;
- Board processes, including the importance of well-planned agenda development, site visits, and the flow of information into the boardroom; and
- Directors’ individual capacities and expertise, especially an expanded time commitment and a keen sensitivity to cultural differences.
“Global-company governance can be summed up in one word: complexity,” said Ken Daly, NACD CEO. “However, despite the rise in international business activity in nearly every industry, little has been written about the unique issues facing current and future global directors. Governing the Global Company fills that gap.”
The findings in this report are based on interviews with nearly 30 directors representing 16 Fortune Global 500 companies and 25 Financial Times Global 500 companies. They provide critical guidance that will support boardroom dialogue about improving board effectiveness in a global marketplace.
“Boards have tended historically to be comprised largely of individuals from the corporate headquarters’ country,” said Alex Wittenberg, executive director of MMC’s Global Risk Center. “As companies become increasingly international, in order to understand and manage both risks and opportunities effectively, it’s critical that the composition of the board diversifies to reflect the geographies in which the company operates.”
Governing the Global Company: Oversight of Complexity is available for complimentary download at www.NACDonline.org/Global.
The National Association of Corporate Directors (NACD) helps more than 17,000 directors lead with confidence. As the recognized authority on leading boardroom practices, NACD aspires to a world where businesses are sustainable, profitable, and respected, and where stakeholders trust directors to develop strategies that create long-term value and provide effective oversight. World-class boards join NACD to elevate performance, gain foresight, and instill confidence. Fostering collaboration among directors, investors, and governance stakeholders, NACD has been shaping the future of board leadership for more than 35 years. To learn more about NACD, visit www.NACDonline.org. To become an NACD member, please contact Steve Kalan at Join@NACDonline.org or 202-572-2089. If you are already a member, contact your Concierge at Concierge@NACDonline.org to ensure that you are receiving the best value from your membership.
About Marsh & McLennan Companies
Marsh & McLennan Companies (MMC) is a global professional services firm offering clients advice and solutions in the areas of risk, strategy and people. Marsh is a leader in insurance broking and risk management; Guy Carpenter is a leader in providing risk and reinsurance intermediary services; Mercer is a leader in talent, health, retirement and investment consulting; and Oliver Wyman is a leader in management consulting. With annual revenue of $13 billion and 58,000 colleagues worldwide, Marsh & McLennan Companies provides analysis, advice and transactional capabilities to clients in more than 130 countries. MMC is committed to being a responsible corporate citizen and making a positive impact in the communities in which it operates. Visit www.mmc.com for more information, and follow us on LinkedIn and Twitter @MMC_Global.
Media Contacts: Henry Stoever Chief Marketing Officer NACD 202-775-0509 hstoever@NACDonline.org Laura Kane Global Head of Media Relations and External Affairs Marsh & McLennan Companies 212-345-0136 firstname.lastname@example.org
Source:National Association of Corporate Directors