McKinsey Global Survey: How Public-Company Boards Can Thrive by Adopting Private Equity Practices

McKinsey 2024 Global Survey of boards (fielded Apr 2-19, 2024, n=913 directors and executives) finds that PE-backed-company boards spend 21% more time discussing strategic initiatives in meetings, 55% more time engaging with shareholders, 41% more with management, and 19% more with customers and employees than public-company boards. 47% of PE-backed-company boards rate themselves very high impact on value creation versus only 11% of public-company boards; PE-backed firms are four times more likely overall to rate boards as very effective. The piece contrasts polite/scripted meetings at underperforming public-company boards with full PE-board meetings devoted to uncomfortable conversations with the CEO about failing plans. Pointed reading for SEA mid-market boards in transition.