KPMG Report - Facilitating the board’s engagement in strategy
The extent of the board’s engagement in strategy—and the lead director’s role—will vary by company and the lead director’s approach, from a light touch to more active leadership.
Stressing the importance of working with the CEO and board to find the right depth and dynamics, the lead directors we spoke with emphasized three key areas of focus for lead directors as they facilitate their board’s engagement in the strategy process, from strategy development and evaluation to monitoring strategic execution and recalibrating strategy as necessary:
- Setting expectations with the CEO and directors for the board’s engagement in strategy
- Planning the setup and staging of board strategy discussions and providing the backdrop to drive the right focus and dynamics
- Building consensus about the proposed direction of the strategy—the fifty-thousand-foot view.