NACD 2025 Blue Ribbon Commission Calls on Boards and CEOs to Treat Their Relationship as a Strategic Asset

By PR Newswire On Oct 13, 2025

25-Member Director and Executive Panel Offers Blueprint for Building and Maintaining Trust for Stronger, More Impactful Board–CEO Dynamics

WASHINGTON, Oct. 13, 2025 /PRNewswire/ — With CEO turnover, shareholder pressure and board scrutiny of CEO performance at record highs, the National Association of Corporate Directors® (NACD®) today released a playbook that guides boards and CEOs on how to treat their relationship as a strategic asset: the 2025 Blue Ribbon Commission report, “Building a High-Trust Board–CEO Relationship.”

Companies are facing an environment that is fundamentally reshaping how they compete and succeed, placing immense pressure on leadership and relentlessly testing the strength, adaptability and alignment of board-CEO dynamics. NACD’s report helps boards and CEOs build and maintain a relationship that can become a powerful intangible asset to organizational success.

“Our Commission’s recommendations help both boards and CEOs intentionally create the conditions for constructive dialogue and collaboration to foster trust, transparency and shared accountability. The real power in this report lies in the toolkit — it shows how to put best practices into action and operationalize trust, turning the recommendations into concrete actions that can drive real-world results,” said Commission cochair Dona Young, NACD.DC®, former nonexecutive chair of Foot Locker and member of the NACD board of directors.

Young added, “This report gives boards and management a disciplined, intentional way to build a strong foundation — one that can withstand crises, challenges and uncertainty, and support better decision-making.”

Cochair Wayne Peacock, former president and CEO of USAA, added that the report provides boards and CEOs with a practical road map for strengthening their partnership. “Like any critical relationship, it requires deliberate effort,” Peacock said. “Trust is what enables leaders to act decisively under pressure, build resilience and create long-term value. Trust is not abstract — it requires the board’s and the CEO’s commitment and concrete actions.”

The report’s recommendations are highlighted by best practices, expert insights shared by the 25-member Commission and a practical toolkit. This combined guidance helps boards and CEOs to clarify expectations, foster alignment and create space for candid dialogue. The report’s focus areas are these:

Build the foundation of trust: Define board and CEO roles and responsibilities, reinforce the role of the independent board leader and set clear expectations for how the partnership will work.
Operationalize trust: Reinforce trust with ongoing communication and enhanced board and CEO evaluations.
Leverage trust for strategic impact: Position the board as a more effective strategic advisor and regularly review board composition to ensure it aligns with company strategy and complements the CEO’s value creation.

“The board–CEO relationship is central to long-term corporate health and stakeholder confidence,” said Peter Gleason, NACD president and CEO and member of the 2025 Commission. “This report builds on NACD’s long-standing work to strengthen board culture and the board’s relationship with management. It underscores why strengthening that relationship is critical to navigating today’s fast-changing environment.”

The report also includes contributions from KPMG, Russell Reynolds Associates,Pearl Meyer and Sidley Austin LLP. The full report, recommendations and toolkit are available to NACD members here.

About the NACD 2025 Blue Ribbon Commission

For more than 30 years, NACD’s Blue Ribbon Commissions have helped directors bridge current governance practices with what’s needed for a more demanding future. Investors, the C-suite and other business leaders use the BRC reports to inform their conversations with the board and CEO. The reports offer a window into the practices leading boards are applying today, setting themselves and the companies they serve up for sustainable growth. The 2025 Commission brought together 25 leading voices from corporate governance, C-suites, investing and academia, including current and former public and private company CEOs, experienced directors, governance leaders and academics. View the full list of commissioners here.

About NACD

The National Association of Corporate Directors^® (NACD^®) is the leading member organization for corporate directors who want to expand their knowledge, grow their network and maximize their potential. For more than 47 years, NACD has helped boards and the business community elevate their performance and create long-term value. Our leadership continues to raise standards of excellence and advance board effectiveness at thousands of member companies.

NACD’s value insights, professional development events and resources, such as the NACD Directors Summit™ and the NACD Directorship Certification^® program, support boards in navigating complex challenges. With a growing network of more than 24,000 members across more than 20 Chapters, boards are better equipped to make well-informed decisions on the critical, strategic issues facing their businesses today. Learn more at www.nacdonline.org.

Press Contact:

Shannon Bernauer

sbernauer@nacdonline.org

571-367-3688

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SOURCE National Association of Corporate Directors

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