A good board always looks well into the future. During our board reviews we often hear that directors want more of the agenda to focus on looking ahead rather than hearing about how things have turned out. It's also true that the immediate and longer-term future is looking ever more difficult to anticipate (never mind forecast). So, maybe in 2019 the Board needs to make a nuanced shift in how it allocates the time on its agenda and how it discusses the matters which arise.
Perhaps in 2019 the Board needs to focus more on helping management assess those uncertainties and steer a course through the hazards. Add in the changes of the Code, and 2019 looks like a year when boards really must look well ahead and think through the potential impact of the looming big issues. Over the last year we've covered some of these things in more detail. But a New Year is always a good time to take stock and reflect. So here we give you some food for thought on what your board might need to do more of – and avoid doing – in 2019.