2025 NACD Private Company

Board Practices and Oversight Survey

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Surveys & Benchmarking / 2025 Private Company Board Practices & Oversight Survey

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2025 NACD Private Company Survey

Private company board agendas continue to expand, highlighting the need for effective governance practices while adapting board oversight to cover rapidly evolving areas. The 2025 Private Company Board Practices and Oversight Survey report presents benchmarking data and insights to help directors assess their governance practices and consider opportunities for improvement. The 2025 survey takes deep dives into four key areas, each covered in its own article, accessible below: 

  • The Board-CEO Relationship

  • AI Oversight

  • Cybersecurity Oversight

  • Supply Chain Oversight

Explore the Findings

The Board-CEO Relationship

Survey data show the positive effects of a strong relationship between the board and the CEO while highlighting key challenges in building and sustaining this relationship at private companies.

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AI Oversight

Private company boards’ artificial intelligence (AI) engagement shows significant advancement as boards increasingly focus on the implications of AI for talent and the future of the workforce. 

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Cybersecurity Oversight

Private company boards have seen improvements to cybersecurity understanding over the past two years, but fewer than half of respondents feel their board’s current level of understanding is sufficient to provide effective oversight. 

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Supply Chain Oversight

Private company directors anticipate that supply chain challenges will remain high for the next 12 months and look to enable their companies to adapt in the face of rapidly shifting trade policy landscapes. 

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About the Survey

The 2025 NACD Private Company Board Practices and Oversight Survey report presents results from our annual questionnaire. This report details responses from 117 individuals who serve on or support private company boards. 

Data Collection

Leveraging its proprietary member database as a sample frame, NACD sent email invitations to directors and those that support the work of the boards of privately held companies, asking them to participate in the 2025 Board Practices and Oversight Survey. The survey was distributed via email, and it was in the field from May 8 to June 2. Respondents were instructed to respond on behalf of one of the boards on which they serve. 

Analysis

Percentages are based on the total number of responses specific to each question. For example, if a question received responses from only 100 out of 117 total respondents, and 75 respondents answered “yes” while 25 answered “no,” the result is reported as 75 percent affirmative. In some cases, survey responses totaling fewer than 5 percent are not represented in graphics for the sake of clarity. 

About the Respondents

Respondents hold a variety of roles on boards of privately held companies of a wide variety of sizes, sectors, and ownership structures. See details in the graphs below. 

Annual Revenue


Chart showing annual revenue.

Source: 2025 NACD Private Company Board Practices and Oversight Survey, n=116

 

Industry

Chart showing Industry

Source: 2025 NACD Private Company Board Practices and Oversight Survey, n=115

 

Ownership Structure 

Chart showing Ownership Structure 

Source: 2025 NACD Private Company Board Practices and Oversight Survey, n=108