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21/01/2019 | iNED
Corporate boards today are expected to be more engaged, more knowledgeable and more effective than in the past and the definition of board effectiveness has shifted dramatically in the aftermath of the of the global financial crisis and numerous corporate scandals. As was stated in the Harvard Business Review in November 2012 “To be truly effective, a board needs directors who can work as a group to clearly define their role and mission, and in specialized individual roles, such as succession planning, acquisitions and capital allocation.” An independent, non-executive director in the UK insurance industry now confronts personal accountability, risk and liability. Clearly, not a job for the faint hearted.