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NACD to Explore the Board’s Role in Overseeing Complex, Atypical Risks

Commission’s Recommendations Will Set New Standards for Boardroom Practice

WASHINGTON, March 20, 2018 (GLOBE NEWSWIRE) -- The National Association of Corporate Directors (NACD), the authority on boardroom practices representing more than 18,000 board members, today announced that the 2018 NACD Blue Ribbon Commission (BRC) initiative will explore board oversight of risks that are complex, difficult to identify, and carry major consequences for companies’ long-term value. This BRC initiative will put forth recommendations to help board directors advise their companies on how to be better prepared to respond when the unforeseen does occur.

/EIN News/ -- Over the next six months, a group of experienced directors, subject-matter experts, and leading governance professionals will develop specific guidance for boards on how to work with their management teams to rethink traditional approaches to risk oversight.

The 2018 NACD Blue Ribbon Commission is led by cochairs Sue Cole (director, Martin Marietta Materials, Biscuitville Inc., Diversified Trust, and NACD) and Kelvin Westbrook (director, The Archer Daniels Midland Co., Camden Property Trust, The Mosaic Co., Stifel Financial Corp., and T-Mobile).

“Risk oversight is a critical area of board responsibility,” said Sue Cole, commission cochair. “The commission’s goal is to explore how the board evaluates the company’s approach to complex, atypical risks and how it assesses management’s level of resilience in the face of potentially transformative events.”

“In a business environment characterized by volatility, uncertainty, and challenges associated with the rapid pace of innovation, boards need to rethink traditional approaches to risk oversight,” said cochair Kelvin Westbrook. “The commission will focus on identifying practical recommendations and guidance to help directors and the governance community as a whole.”  

“Boardroom discussions often focus on reports about past performance and results, which may offer little insight into unexpected and potentially disruptive risks,” said NACD president and CEO Peter Gleason. “For years, NACD’s Blue Ribbon Commissions have influenced boardroom practices and raised the bar on what constitutes good governance. We look forward to the insights and guidance that will emerge from the Commission’s work this year.” 

The 2018 commissioners constitute a roster of distinguished corporate leaders and subject-matter experts. While subject to change, the NACD 2018 Blue Ribbon Commission currently includes the following members:

Cochairs:

  • Sue Cole, Director, Biscuitville Inc., Diversified Trust, Martin Marietta Materials, NACD
  • Kelvin Westbrook, Director, The Archer Daniels Midland Co., Camden Property Trust, The Mosaic Co., Stifel Financial Corp., T-Mobile

Commissioners:

  • Maureen Breakiron-Evans, Director, Ally Financial Inc., Cognizant Technology Solutions, Cubic Corp.
  • Ian Bremmer, President and Founder, the Eurasia Group
  • Irene Chang Britt, Director, Brighthouse Financial Inc., Dunkin’ Brands Group Inc., Tailored Brands Inc.
  • Stephen Brown, Senior Advisor, KPMG Board Leadership Center
  • Nora Denzel, Director, Advanced Micro Devices Inc., Ericsson, Talend SA
  • Nicholas Donofrio, Director, Advanced Micro Devices Inc., Aptiv PLC, Liberty Mutual Group, HYPR Corp., Sproxil Inc., Wigix Inc., NACD
  • John Drzik, President of Marsh Global Risk and Digital, Marsh & McLennan Companies
  • William Easter III, Director, Concho Resources Inc., Delta Airlines Inc., Grupo Aeroméxico SAB de CV
  • David Flaschen, Director, Informa PLC, Paychex Inc.
  • Tina Gabbrielli, Director for Counterintelligence, U.S. Dept. of Homeland Security; Chair, OECD High-Level Risk Forum
  • Peter Gleason, President and CEO, NACD; Director, Nura Health Inc.
  • Holly J. Gregory, Cochair of the Global Corporate Governance and Executive Compensation Practice, Sidley Austin LLP
  • Lee Hanson, Vice Chair, San Francisco and New York offices, and Senior Member, Global Financial Services and Chief Executive Officer & Board of Directors practices, Heidrick & Struggles
  • Karen Horn, Director, Simon Property Group, National Bureau of Economic Research, US-Russia Foundation for Economic Development and the Rule of Law; Chair, NACD
  • Dennis Kass, Director, The Wendy’s Co., Lockheed Martin Investment Management Co. Advisory Board
  • Jannice Koors, Senior Managing Director and Western Region President, Pearl Meyer
  • James Lam, Director, E*TRADE Financial Corp.
  • Mary Pat McCarthy, Director, Andeavor, Palo Alto Networks Inc.
  • Blythe McGarvie, Director, Apple Hospitality REIT Inc., LKQ Corp., Sonoco Products Co., Wawa Inc.
  • Sara Mathew, Director, Campbell Soup Co., Shire PLC
  • Ray Rothrock, Chair and CEO, RedSeal Inc.; Director, Check Point Software Technologies Ltd., CTERA Networks Ltd., Tri Alpha Energy Inc.
  • Suzanne Spaulding, George Washington Center for Cyber & Homeland Security
  • Jerre Stead, Director, Customers First Now LLC, MD On-Line Inc.
  • Shelley Stewart, Vice President and Chief Procurement Officer, E.I. DuPont de Nemours & Co.
  • Kelly Watson, National Service Group Leader, US Risk Consulting Practice, KPMG LLP
  • Dennis Whalen, Leader, KPMG Board Leadership Center
  • James Wiener, Senior Executive Vice President and Chief Risk Officer, Bank of New York Mellon Corp.

The titles and affiliations of commissioners in this list are selective and do not include all directorships. Commissioners participate as a service to the governance community and not as representatives of any organization.

The commission’s report is scheduled for release at the 2018 NACD Global Board Leaders’ Summit.

About NACD
The National Association of Corporate Directors (NACD) empowers more than 18,000 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.

Contact:
Susan Oliver
susanboliver@gmail.com
703-216-4078

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