In a technology-driven and digital world, companies must operate with a new set of assumptions and principles in order to remain relevant, competitive, and successful. Consider the growing number of startups companies that are doing something that once seemed unthinkable: challenging and disrupting traditional corporate giants, and the many large and highly successful businesses that are operating as ‘platforms’. The re-organisation of companies into platforms is now seen as the optimum way to succeed in this digital age.

As this issue continues to draw criticisms from various stakeholder groups, companies are now facing immense pressure to navigate the nuances of board pay delicately and effectively. There are increasing demands on directors today - with independent non-executive directors (NEDs) carrying the same legal duties, responsibilities and potential liabilities as their executive counterparts.

Business is about taking risks for rewards. Increasingly, companies are facing technological, reputational, regulatory and environmental challenges which directors are required to factor into their decisions. At times, even the best laid plans would fail. There is a new level of anxiety over legal liability in corporate boardrooms leading to increasing concern amongst directors. Should directors of companies expect to be protected over a business judgement that has gone wrong if they had applied their judgement responsibly and honestly in the best interest of the company?

The modern environment for almost any organisation, is increasingly volatile and fraught with complex and demanding challenges. The ways in which these challenges are addressed by boards often have far ranging, even unforeseen, consequences for their organisations. Organisations are increasingly being scrutinised (and judged) by a wide range of external stakeholders.