Activist Pressure, Board Skills Refresh, and Governance Failures

NACD report: 63% of directors say boards not essential for value creation. Activist cases (Align Technology, CVS Group) and board succession examples (CPKC, Owens Corning CFO) highlight need for skills refresh. New frameworks: JV governance, high-impact board self-assessment, value equation beyond EBITDA. FCLTGlobal/McKinsey identifies five behaviors for long-term value creation (risky investment, portfolio returns, dynamic allocation, stakeholder value, resisting short-termism) — practical framework for boards. Boards must address strategy execution gap, vendor concentration risk, and quarterly reporting debate.