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Roles & responsibilities
The bar has been raised for boards, their committees, and individual directors. Board deliberations are frequently focused on core questions: How can we function more effectively? What are the critical areas a board should focus on? Are we asking all the right questions and how do we maintain an oversight role without crossing the line into management?
The primary roles of the board include hiring and firing the CEO, planning for his/her succession, and overseeing the strategy set by management. Boards should also be responsible for:
- board leadership and composition
- executive succession and development
- senior executive compensation issues
- monitoring the quality of products and services
- performance and financial viability
- risk management, controls, and transparency
- tone at the top, ethics, and compliance
- stakeholder issues, including business sustainability in light of climate, energy, environmental, and other concerns.
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Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/cn/en/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms.
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/cn/en/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms.
