Higher demands on the Board
In a survey more than 300 managers and members of the management board of listed German companies (groups, big companies and leading SMEs) were interviewed for the new role of the supervisory board.
Thus, the majority of managers in the top management is not convinced of the qualifications of their supervisory boards. They assessed the allocation of mandates as critical. 12% were of the opinion that more than half of the supervisory boards had received their mandates only because of their names.
72% expect a professionalization of the Board through the introduction of the Accounting Law Modernization Act (BilmoG), not least in order to ensure the competitiveness of their businesses. Also more than 50% argued for an international composition of the supervisory board.
23% of the top managers wished that the supervisory board should develop from the mere control function to co-entrepreneurs and sparring partners at eye level.
However, the supervisory board can only fulfill its function reasonably when a strong, competent operational management supports and informs it correctly and thoroughly. In return the supervisory board should always have essential faith in the board.
In conclusion professional supervisory boards are required who are not appointed because of your big names, but because of their necessary personality profile and their well-fitting professional competence.