BoDs: A Tale of Two Surveys

Should investors care what executives think of BoDs? Should BoDs? Should anyone?

Each year numerous surveys, reports, and analyses assess BoDs. One from PwC landed about the same time as another from SquareWell Partners in the past couple of months, inviting a comparison.

PwC has surveyed CEOs and other executives about BoDs for the past five years. SquareWell surveyed institutional investors about activists this year for the first time since 2019. A close read of their findings reveals which approach makes more sense, at least for activists. At the same time the PwC report reminds us of the fundamental flaws in the relationships among investors, BoDs, and executives.

Executives criticize BoDs

The PwC Governance Insights Center, with The...