2026 NACD Private Company

Board Practices and Oversight Survey

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Committees & Roles

Core Oversight Topics

About the 2026 Private Company Survey

In an increasingly volatile business environment, boards of directors at privately held companies face mounting pressure to sharpen oversight across three critical fronts: strategy execution, risk, and human capital. In this context, private company boards must rethink how they monitor performance, safeguard against disruption, and support leadership and talent strategy. Our survey data reveals how today's boards are adapting their oversight practices—and where the gaps remain.

The 2026 NACD Private Company Board Practices and Oversight Survey report presents results from our annual questionnaire. This report details responses from 147 individuals who serve on or support private company boards.

Analysis

Strategy Execution Oversight

In a rapidly shifting business environment, boards must increasingly focus on forward-looking information and external trends impacting business conditions.

Risk Oversight

Private company boards work to formalize and strengthen enterprise risk management structure and processes.

Human Capital Oversight

Boards expect AI and emerging technologies to reshape workforce strategy, but many acknowledge significant gaps in their oversight of workforce transformation.

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Methodology

Leveraging its proprietary member database as a sample frame, NACD sent email invitations to directors and those who support the work of the boards of privately held companies, asking them to participate in the 2026 Board Practices and Oversight Survey. The survey was distributed via email and in the field from April 16 to May 18. Respondents were instructed to respond on behalf of one of the boards on which they serve.

Reported 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 147 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.

Respondents Summary

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

Respondent Role

Independent director

64%

CEO

11%

Other corporate executive

9%

Executive director

8%

General counsel/Corporate secretary

4%

Nonindependent, nonexecutive director

3%

Nonvoting attendee

2%

Board meeting participants by role — percentage distribution
Role	Percentage
Independent director	64%
CEO	11%
Other corporate executive	9%
Executive director	8%
General counsel/Corporate secretary	4%
Nonindependent, nonexecutive director	3%
Nonvoting attendee	2%

Source: 2026 NACD Private Company Board Practices and Oversight Survey, n=143

Ownership Structure

Family controlled

24%

Owner controlled

19%

Mutually controlled

15%

Employee controlled

13%

Private equity controlled

13%

Venture capital controlled

2%

Other

15%

LP Ownership Structure by Control Type
Ownership Type	Share of Respondents
Family controlled	24%
Owner controlled	19%
Mutually controlled	15%
Employee controlled	13%
Private equity controlled	13%
Venture capital controlled	2%
Other	15%

Source: 2026 NACD Private Company Board Practices and Oversight Survey, n=135

Sector

Financials/Real Estate

27%

Materials/Industrials

22%

IT/Communication Services

18%

Health Care

12%

Energy/Utilities

8%

Consumer Discretionary

7%

Consumer Staples

6%

Private equity sector allocation by percentage
Sector	Allocation
Financials/Real Estate	27%
Materials/Industrials	22%
IT/Communication Services	18%
Health Care	12%
Energy/Utilities	8%
Consumer Discretionary	7%
Consumer Staples	6%

Source: 2026 NACD Private Company Board Practices and Oversight Survey, n=97

Annual Revenue

Company revenue distribution
Category	Share
Less than $1B	79%
$1B or more	21%

Source: 2026 NACD Private Company Board Practices and Oversight Survey, n=100