In times of shifting sands, boards may consider the learning curve to be a director for the first time too daunting,” wrote Janice Ellig, CEO of Ellig Group.
“Being an effective board director requires a significant time commitment of an estimated 200 hours per board,” Ellig said. “But with more disruption and uncertainty like the pandemic and the financial crisis, that increases exponentially. Directors who do not have a full-time position have more time.