Beyond Board Composition: Continuous Development as a Dimension of Effective Corporate Governance

Board effectiveness is often discussed in terms of composition, independence and the professional experience of directors. While these remain important considerations, the expanding responsibilities of corporate boards raise a further question: how can boards ensure that their collective knowledge and capabilities remain relevant over time?

The Annual Corporate Directors Survey 2026, conducted by the EIMF Centre of Good Governance, and supported by The Chartered Governance Institute UK & Ireland, provides insights into how respondents perceive the importance of board development and the factors influencing board effectiveness.

One particularly interesting finding concerns board self-evaluation. 83.6% of respondents consider it very or extremely important to overall board effectiveness, suggesting considerable recognition of the need for ongoing assessment and improvement.

However, recognising the importance of evaluation does not necessarily mean that boards have the capacity to translate its findings into meaningful organisational change.

When asked which measures could improve board functionality, 46.4% identified targeted training and development, while 42.9% emphasised a greater focus on innovation and long-term strategy.

At the same time, respondents identified significant obstacles. Lack of time and resources emerged as the most frequently selected barrier (50%), followed by insufficient attention to long-term strategy and innovation (37.5%).

These findings raise questions about how boards approach professional development. Traditionally, considerable emphasis has been placed on appointing directors with appropriate qualifications and experience. Yet the increasing complexity of technological, regulatory and strategic challenges suggests that existing expertise may require continuous updating.

Effective board development should therefore be understood not merely as an additional training activity, but as an integral component of corporate governance.

The broader implication is that board effectiveness depends not only on who sits around the boardroom table, but also on how directors collectively develop their capacity to exercise oversight, challenge management and contribute to long-term strategy.

The full results of the Annual Corporate Directors Survey 2026 can be found here.