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2025 NACD Blue Ribbon Commission

Building a High-Trust Board-CEO Relationship

This report is for NACD members only.

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Blue Ribbon Commission / Building a High-Trust Board-CEO Relationship

Unlock the Value of the Board-CEO Relationship

NACD’s long-standing Blue Ribbon Commission series, renowned for delivering peer-driven guidance on critical governance topics, presents its 2025 report. This essential resource offers a playbook of actionable recommendations and practical tools that can help boards and CEOs to intentionally build and sustain trust, enable agile decision-making, and lay the groundwork for organizational resilience.


Explore the Report:

  • Meet the Blue Ribbon Commission: Learn about the 25 Commission members who shaped the report. 
  • Letter from the Cochairs: Gain perspective from the Commission leaders on the report’s actionable guidance. 
  • The Case and Call for Action: Understand escalating pressures, relationship barriers, and the need for a trust-based partnership. 
  • Recommendations for Action: Discover three key steps and nine recommendations for building a high impact board-CEO relationship. 
  • Toolkit for Action: Access 12 practical tools to implement the recommendations and strengthen the relationship.

 

Explore The Report

2025 Blue Ribbon Commission Cochairs

Wayne Peacock

Cochair
Former CEO and President, USAA
Elizabeth Dole Foundation (Vice Chair)

Dona Young, NACD.DC®

Cochair
Former Chair, President, and CEO, The Phoenix Companies
Foot Locker (Former Nonexecutive Chair), Spahn & Rose, USAA, NACD

Letter from the Cochairs

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Nine Recommendations for Building a High-Trust-Board-CEO Relationship

 

Info graphic of the recommendations.

Build the Trust Foundation

Intentionally set the parameters of the collaborative and constructive partnership and revisit them regularly to reinforce mutual trust over time.

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Recommendation 1

Delineate board and CEO roles and responsibilities to anchor a strong relationship.

Recommendation 2

Explicitly define how the board and CEO will work together.

Recommendation 3

Strengthen the independent board leader’s role as the linchpin in the relationship. 

Operationalize Trust

Embed trust-building activities into formal board processes and informal interactions to reinforce and sustain the established trust foundation.

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Recommendation 4

Commit to ongoing communications to sustain trust beyond formal meetings.

Recommendation 5

Enhance board and CEO evaluations to reinforce intended behaviors.

Recommendation 6

Use executive sessions as levers for accountability and transparency. 

Recommendation 7

Prioritize the CEO’s overall well-being.

Leverage Trust for Strategic Impact

Maximize the board’s strategic value and strengthen the CEO’s confidence in the board. 

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Recommendation 8

Maximize the board’s value as a strategic advisor to the CEO. 

Recommendation 9

Continually assess board composition to align with strategy and value creation. 

Toolkit for Action

Access 12 practical tools to implement the recommendations and strengthen the relationship.