https://boardmanagementsystem.info/what-is-the-biggest-challenge-facing-the-ceo-of-today

The composition of a board is the mix that a board chooses to guide an organisation. This includes the proportion of women to men as well as the proportion of minorities and women and the age of the board members. It also takes into account the proportion of experts in management and governance issues such as fundraising, or legal risk.

Diversity is a major driver of good board composition, and many boards are seeking new ways to diversify their memberships. To identify gaps in diversity, organizations can conduct an audit of current board members and identify where recruitment efforts are required. Diversity should be considered across all dimensions, including race and gender, age and education in addition to skills and experience.

In addition, to consider diversity, an effective board needs matrix can help boards to determine the type of individuals they require on their board. A typical matrix is an Excel-like grid that lists characteristics of board directors along with the skills required to carry out their duties. By using this information, a committee can create an outline of possible candidates and rank them based on how closely they meet the requirements.

A board has to balance the interests and requirements of shareholders and the management team. This usually means that the board consists of a mixture of inside and external directors, with the inside directors having experience managing businesses or non-profits. Boards will also have a chairperson, who is responsible for the work of the board and the committees.