The significant conclusion we would draw is somewhat different: CEOs do not allow or enable boards to play a significant substantive role beyond compliance and window dressing, and boards make no effort to change that.
Whether it’s racial tensions in a coffee shop or testimony before Congress about privacy, CEOs face a lot of pressure to make things right.But where do CEOs typically turn to when they need honest feedback?
Not the boardroom.A new study of 400 CEOs around the globe found that 38% turn to the board chairman of their companies for honest feedback, and only 28% turn to the board.
The report, titled The CEO: A Personal Reflection and put out by advisory firm Egon Zehnder’s global, also found that:Just over half—51%—of respondents rely on their senior leadership team for that feedback, which implies that nearly half of them can’t or don’t.Almost one-quarter (24%) said “You have to rely on your own judgment.”
“A significant conclusion from our survey is that many boards are not sufficiently supporting CEOs,” says Dick Patton, Leader of Egon Zehnder’s global CEO Practice.