![]() ![]() We measure performance by rigorous benchmarks. We achieve that by providing trusted information, telling great stories, and building world-class communities. The Fortune mission is to change the world by making business better. The 25 companies listed here each ranked in the top quartile of the S&P 500 for both board effectiveness/vulnerability and ESG, by our measurements, and the company ranking determined by Fortune reflects the highest combined scores for both. We also included Environmental, Social, and Governance (ESG) scoring, relying on that data to judge whether boards had the forward-leaning mentality needed to thrive in a rapidly changing business climate. In assigning scores to those criteria, we relied on corporate governance data aggregated from company reports and public filings by Diligent. These rankings are based on criteria that include expertise and independence of board members diversity on the board, including gender, age, and nationality the tenure of independent directors, financial performance and vulnerability to activism. To select the Modern Board 25, Fortune developed a ranking system in collaboration with Diligent, GRC SaaS provider across governance, risk, compliance, audit and ESG. Our Modern Board partnership with Diligent is designed to help boards meet those demands and to identify those boards that are developing best practices." to rising demands of consumers and employees around environmental and social goals. Of the Modern Board partnership, Fortune CEO Alan Murray says, "To be an effective board member today, you must stay on top of a bewildering array of issues, from the explosive development of A.I. "As part of our mission to empower leaders with the right information to build successful, equitable, and sustainable organizations, we are proud to partner with Fortune to recognize organizations leading with purpose." To keep up, they need access to metrics that paint a fuller picture of organizational success," said Brian Stafford, CEO of Diligent. Financial performance always matters but now organizations are expected to quickly respond to new regulations, be aware of heightened stakeholder expectations and evaluate company performance beyond financial results. "Today's business environment is more complex than ever. Similarly, Diligent is committed to empowering leaders with technology, insights and confidence to create greater impact and accountability while providing a modern, holistic view of governance, risk, compliance, audit and ESG. The top ten companies on the 2023 Fortune Modern Board 25 are:įortune's mission is to give leaders the tools to make business better and use its real-time access to the world's most influential business executives to curate regular, poignant, and action-focused discussions that confront diversity, accountability, and societal impact in corporations head on. The 25 companies included in the Fortune Modern Board 25 ranking were in the top quartile of the S&P 500 in board effectiveness, diversity, tenure, financial performance, and vulnerability to activism, setting them up well strategically for long-term, sustainable growth. Lila MacLellan, author of Fortune's Modern Board newsletter writes, "Today, the best boards operate as an advisory team, almost player-coaches, who manage multiple pressures, including traditional expectations around increasing revenues and building strong leadership succession plans, but also newer requirements, such as shrinking a firm's carbon footprint, boosting social equity, and complying with increased regulations." Read more here. The 2023 Fortune Modern Board 25 ranks the most innovative boards of directors among S&P 500 companies.
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