Magazine : Archives : 4th Quarter 2018

How Old is Too Old?

Almost every conversation about the refreshment of a bank board based on the age of its directors begins with a pause, or a deep breath, or some other physical cue of discomfort. The question of how old is too old to serve can rattle the sensibilities of any director. Age, whether strictly in terms of years or a looser definition of tenure or duration of board service, remains one of the tougher issues directors grapple with, as well as how to assess and ultimately how to handle board performance. As boards draw greater scrutiny from investors, shareholders and regulators about...