Boardrooms are abuzz about human capital. This is largely due to the Covid-19 pandemic’s impact on the workforce, SEC updates to disclosure requirements, and a growing investor consortium prodding companies to get a handle on workforce strategy and related disclosures.
Investors are asking for more details on emergency succession planning, workforce turnover and the talent pipeline as companies work through leadership changes during the crisis. Directors should be prepared to field questions about succession planning during upcoming engagement sessions.
While a number of companies put CEO succession plans on hold this year, data shows, sources say boards need to take a deep dive into the talent pipeline of the entire organization to ensure the right leaders and teams are in place to navigate through future turmoil.
…According to the public company intelligence provier, MyLogIQ, 94% of the S&P 500 disclosed responsibility for succession planning in 2020 proxies, up from 93% in 2019 and 90% in 2018.
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