According to the NACD's recent director survey on COVID-19 impacts on corporate governance (page 2), 65% of directors expect at least 20% of future full board meetings to be virtual. Of those, 13% expect at least 60% of meetings to be virtual and 5% expect at least 80% of meetings to be virtual, as shown here:
Directors expect even more committee meetings to remain virtual, with 76% of respondents expecting at least 20% of future committee meetings to be virtual. Of those, 31% expect at least 60% of meetings to be virtual and 12% expect at least 80% of meetings to be virtual, as shown here:
In December, we noted (based on the NACD's report) that a plurality of directors disagreed that virtual board meetings are as effective as in-person meetings. However, the NACD astutely observes that this sentiment, in conjunction with the fact that more than 90% of respondents said that they were able to govern effectively in the new environment, may indicate that directors responding to the survey are overestimating the value of in-person meetings.
Access additional resources on our Board Meetings and Coronavirus (COVID-19) Resources pages.
This post first appeared in the weekly Society Alert!