Leading corporate boards can now leverage independent data to inform board composition and enable modern governance practices
WASHINGTON--(BUSINESS WIRE)--Diligent and the National Association of Corporate Directors (NACD) today announced a game-changing partnership that will make it easier for boards to embrace modern governance practices with data and analytics to sustain and support highly effective and diverse boards, while reducing reputational, governance and shareholder activism risks.
The newly released NACD & Diligent Nom Gov application provides directors with access to data that helps them better understand how outsiders view their board’s composition and helps boards monitor and manage succession planning—effectively providing them with the same information used by proxy advisors and activist investors.
“This partnership pairs NACD's premier thought leadership with Diligent's market-leading technology, third-party data, and expansive network to deliver cutting-edge innovation to our members,” said Peter Gleason, CEO, NACD. “We'll now be able to offer our 20,000+ members access to a comprehensive set of information which will enable them to expand their networks, identify specific skills needed for their board, and work more effectively.”
The NACD & Diligent Nom Gov application will help facilitate efforts to increase boardroom diversity by enabling companies to quickly see how their board composition measures up against their peers, investor requirements, and market standards. They can quickly identify red flags that may put them at governance risk or invite pressure from shareholder activists.
“Continued engagement and focus from stakeholders and shareholders makes it clear that Nomination and Governance Committees will need to actively look outside their traditional networks to bring new perspectives into the boardroom,” commented Gleason. “Companies are being more proactive about succession planning at the board level and this tool will help boards source and recruit candidates beyond their current networks.”
The Nom Gov application also enables companies to use the data to direct an executive search firm of choice to proactively find, engage and network with the best-quality prospects for boardroom recruitment and succession planning.
“Having a diverse board with the right balance of skills and expertise is paramount to a company’s long-term success,” said Brian Stafford, CEO, Diligent. “Historically, the technology required to achieve this balance has not been available to boards in the form of an easy-to-use tool. Diligent is delighted to collaborate with NACD as both groups endeavor to modernize the boardroom by providing access to new data that improves boardroom composition, helps companies understand how they compare with their peers, and ensures solid succession plans are in place.”
To learn more about the NACD & Diligent Nom Gov application, visit https://diligent.com/nomination-governance.
Diligent is leading the way in modern governance. Diligent empowers leaders to turn governance into a competitive advantage through unparalleled insight and highly secure, integrated SaaS applications, helping organizations thrive and endure in today’s complex, global landscape. The company’s trusted, cloud-based applications streamline the day-to-day work of board management and committees, support collaboration and secure information sharing throughout the organization, manage subsidiary and entity data, and deliver the insights and information leaders need to mitigate governance deficits and seize new opportunities.
The largest global network of corporate directors and executives, Diligent is relied on by more than 16,000 organizations and 650,000 leaders in over 90 countries. With award-winning customer service across the globe, Diligent serves more than 50% of the Fortune 1000, 70% of the FTSE 100, and 65% of the ASX.
Visit www.diligent.com to learn how modern governance helps organizations outperform their peers and the competition.
The National Association of Corporate Directors (NACD) empowers more than 20,000 directors to lead with confidence in the boardroom. As the recognized authority on leading boardroom practices, NACD helps boards strengthen investor trust and public confidence by ensuring that today’s directors are well prepared for tomorrow’s challenges. World-class boards join NACD to elevate performance, gain foresight, and instill confidence. Fostering collaboration among directors, investors, and corporate governance stakeholders, NACD has been setting the standard for responsible board leadership for 40 years. To learn more about NACD, visit www.NACDonline.org.
Greg Nyhan, 646-215-6884