WASHINGTON, Sept. 15, 2016 (GLOBE NEWSWIRE) -- The National Association of Corporate Directors (NACD), the standard setter for responsible board leadership, today announced the first-ever standard for corporate director education. Establishing a standard in director education creates much-needed clarity about the knowledge and competencies directors should develop in today’s dynamic and constantly evolving business environment.
Using its proprietary framework, NACD’s director education standard creates the most comprehensive director knowledge pathway—from awareness and insights to mastery.
With 40 years of experience in developing leading and next-level boardroom practices, NACD’s Director Education Framework maps core responsibilities of the board to critical areas of director competency that are essential to a director’s ability to lead with confidence in the boardroom.
| Core Board Responsibilities | Areas of Director Knowledge and Competency |
* Board Governance, Structure, and Function | * Board Role and Structure * Director Duties and Liabilities * Board Operations and Process * Committee Roles, Responsibilities, and Activities |
| * Ongoing Board Responsibilities and Activities | * Financial and Managerial Decision Making * Talent Oversight * Strategy Oversight and Planning * Risk Oversight |
| * Shareholder Considerations | * Shareholder Engagement * Corporate Transformations |
| * Emerging Issues | * Perspectives on the Horizon |
The framework draws on NACD’s extensive library of proprietary research and was developed with input from leading corporate directors—including highly experienced members of NACD’s education program faculty, governance thought leaders, institutional investors, and other stakeholders.
“Most, if not all, directors participate in a variety of educational programs. But until now, directors have not had a standard by which they could assess the adequacy of their knowledge to satisfy today’s demanding governance requirements. NACD, the leader in developing boardroom best practices for 40 years, has now set that standard,” said Ray Gilmartin, a former lead director of Microsoft Corp. and General Mills and the former chairman, president, and CEO of Merck & Co.
Building on the cornerstone of its mission—to identify, interpret, and deliver insights on critical board issues—NACD will use the Director Education Framework to help directors chart their own personalized roadmap for learning and development as they journey from awareness and insights to mastery of essential board leadership topics. Further, NACD has redesigned its foundation courses in boardroom fundamentals, including Director Professionalism®, using this new approach.
“In the spirit of helping corporate directors foster boardroom cultures that are focused on continuous improvement, long-term value creation, and increasing investor trust and confidence, I’m pleased that NACD has established the standard for director education,” said Ken Daly, CEO of NACD.
By taking a comprehensive approach to advancing exemplary board leadership, the NACD Director Education Framework serves as a model that all organizations providing director education can follow.
NACD will make the framework available to all organizations that provide corporate governance education under terms and attribution to NACD. In this way, the NACD Director Education Framework can elevate the value of all director education programs, helping to strengthen boardroom practices and drive long-term value creation.
For more information about the NACD Director Education Framework, visit NACDonline.org/Standard.
About NACD
The National Association of Corporate Directors (NACD) empowers more than 17,000 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 governance stakeholders, NACD has been setting the standard for responsible board leadership for 40 years. To learn more about NACD, visit www.NACDonline.org. To become an NACD member, please contact Steve Kalan at Join@NACDonline.org or 202-572-2089. If you are already a member, contact your NACD Membership Advisor at MembershipAdvisor@NACDonline.org to ensure that you are receiving the best value from your membership.