Simiso Nzima , its investment director and head of corporate governance . Most , he says , have complied .
It turns out an increasing number of sitting directors want to see their boards get new blood too . In the 2020 PwC annual survey of almost 700 corporate directors , 49 percent of respondents said someone on their board should be replaced , equaling the all-time high set in 2019 and up from 31 percent in 2012 .
Sitting directors also agree that diverse boards are better boards : 83 percent of 2020 PwC respondents said diversity improves a board ’ s performance , though the survey didn ’ t define performance measures . “ It would be unusual in the last at least five years that a board did not ask for diversity ,” says Diane Miller , a corporate governance expert who ’ s president of Sacramento-based executive search firm Wilcox Miller & Nelson . “ But that doesn ’ t mean they ended up there ,” adds Miller , who ’ s sat on several corporate boards herself .
Why not ? Nzima chalks it up to how boards recruit : personal networks . “‘ Who do you know ?’ is usually the first question that comes up when a board vacancy opens ,” he says . “ If the board is currently not diverse , what are the chances that relying on directors ’ personal networks will result in a diverse candidate pool ?” And there may not be much deliberation going into those recruitment efforts : 33 percent of PwC respondents said their board ’ s succession plan was ad hoc , and 10 percent said there was no plan at all .
Strengthening governance and diversity
All that can change , according to those who work with companies to recruit effective board members . Most obviously , buy-in from company leaders and investors matters when it comes to getting directors from different backgrounds . A 2019 report from the U . S . Government Accountability Office says that having CEOs and investors or shareholders communicate how much board diversity matters is a key strategy women
CREATING SUCCESS FOR CLIENTS
IN LEADERSHIP
Hanson Bridgett LLP
Hanson Bridgett LLP has more than 180 attorneys located in five offices
throughout California , including a Sacramento office since 2001 . Founded in
1958 , this multidisciplinary firm is driven by a commitment to client service , diversity and sustainability . Meet the women partners in the Sacramento office creating clients ’ success .
Liza Bunker of the Family Wealth Services practice group provides estate planning and administration services to individuals and families . Skilled in developing and implementing comprehensive estate planning strategies , she also advises fiduciaries and beneficiaries in probate and trust administration .
Kathryn Doi leads the Health Litigation group and is the Federally Qualified Health Center practice leader . Backed by 30-plus years as a litigator and roles within the highest government ranks , she represents health care providers , primarily in disputes relating to reimbursement for services .
Janet Eisenbeis leads the firm ’ s Hospital practice group . She has over 25 years in representing all categories of health care providers in state and federal regulatory matters and often provides advice on operational issues related to regulatory compliance and risk management .
Lori Ferguson focuses on helping clients resolve health care-related disputes . She tackles difficult medical staff , credentialing and privileging issues , including fair hearings and also represents health care providers and senior living communities in civil , administrative and regulatory proceedings . Lori also serves as a medical staff hearing officer , arbitrator and mediator .
Patricia Hartman , Health and Senior Care Real Estate practice co-leader , has been practicing commercial real estate and business law for 30-plus years representing clients in health care , senior care , engineering , accounting , architecture , agriculture , insurance and consulting industries with real estate , general business , and commercial law matters . hansonbridgett . com
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March 2021 | comstocksmag . com 89