EY's first annual risk barometer is based on a survey of non-executive directors (NEDs) from leading FTSE companies, conducted to understand the key issues facing boards. It reveals that, as businesses face greater complexity, the NED role is becoming more demanding. This is only likely to intensify as boards respond to the full impact of Covid-19, with NEDs using their wealth of experience to help executive teams navigate unprecedented challenges. Beyond Covid-19, the role of NEDs is likely to be even more important—not only in providing oversight of management and protecting shareholder value, but also in helping to ensure the future sustainability of the business. As businesses begin to understand what the future may entail, they must reshape to address societal shifts and plan for economic recovery.
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