Key takeaways:

Half (48%) of the directors surveyed agree that economic uncertainty is one of the biggest challenges facing corporate boards in 2016, ahead of market risk (37%) and cyber risk (35%).
More than a third of those responding (38%) believe that although they are doing all they can to protect the company’s data, most cybersecurity risk is really out of their hands.
Over half (57%) of those surveyed say they have not thoroughly vetted a crisis communications plan within the past 12 months. Yet, 52% are confident their current plan
would run successfully.
Two-thirds (65%) of respondents agree that direct engagement with shareholders can serve to open dialogue in a meaningful way before critical issues come to a head.
Nearly two-thirds (62%) of board members surveyed believe the recent wave of hedge-fund activism has reinforced and rewarded short-termism.
Close to half (42%) of directors surveyed believe their board needs to focus more on long-term strategic planning.
Industry (83%) and financial (78%) expertise/experience are the two most important attributes sought during the selection of a new board member.
Almost half (45%) of our respondents lack confidence in the idea that their employees are thoroughly trained, understand, and assume appropriate responsibility for compliance related to the use of corporate social media, followed by data security (33%) and third-party risk (28%).
Most respondents showed great confidence in their employees’ training, understanding, and compliance with insider trading (92%), internal controls (92%), and antibribery rules (87%).

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