Ed. Note: Each year law firm Akin Gump identifies main challenges that U.S. public companies will face in the coming year. Here is its list of “hot topics for the boardroom” for 2016 (www.akingump.com).
1. Oversee the development of long-term corporate strategy in an increasingly interdependent and volatile world economy
2. Cultivate shareholder relations and assess company vulnerabilities as activist investors target more companies with increasing success
3. Oversee cyber security as the landscape becomes more developed and cyber risk tops director concerns
4. Oversee risk management, including the identification and assessment of new and emerging risks
5. Assess the impact of social media on the company's business plans
6. Stay abreast of Delaware law developments and other trends in M&A
7. Review and refresh board composition and ensure appropriate succession
8. Monitor developments that could impact the audit committee's already heavy workload
9. Set appropriate executive compensation as CEO pay ratios and income inequality continue to make headlines
10. Prepare for and monitor developments in proxy access.