PwC's 2025 Annual Corporate Directors Survey

PwC's 2025 Annual Corporate Directors Survey (Oct 1, 2025), based on responses from more than 600 public-company directors, reveals an inflection point in board accountability. Headline data: 55% of directors say at least one board colleague should be replaced — the highest in the survey's history; 78% say current assessments do not capture the full picture and nearly three-quarters of boards skip individual director reviews entirely; only 32% of executives say their boards are equipped with the right mix of skills and expertise to oversee AI, geopolitical volatility, evolving trade policy and sustainability. Reasons cited for replacement: lack of meaningful contribution, long tenure, insufficient expertise — though collegiality and discomfort with hard conversations still prevent action. Strong benchmark for SEA mid-market boards.