Boards Need a New Playbook for Oversight of Strategy Execution, NACD Finds

NACD's 2026 Blue Ribbon Commission will define how boards can better oversee
strategy execution amid rising complexity and disruption.

WASHINGTON, DC (April 21, 2026) - According to National Association of Corporate Directors^® (NACD^®) research, the effectiveness of strategy execution has become more difficult for boards to assess due to a growing number of interconnected and fast-changing variables that are harder to anticipate. NACD today announced the formation of its 33rd annual Blue Ribbon Commission, a 23-member group of boardroom leaders, CEOs and governance experts that will examine these issues and develop a playbook that helps boards actively safeguard the integrity of corporate strategy while also facing real-world challenges that impact stakeholder value.

NACD's 2026 Governance Outlook Survey reports that directors see oversight of strategy execution as a top improvement area for this year:

Top Board Improvement Areas for 2026

"Oversight of strategy execution today requires boards and management to take a hard look at whether the organization has the capabilities, leadership capacity and adaptability needed to deliver on its priorities," said Peter Gleason, NACD president and CEO. "This requires an appropriate level of board oversight and engagement. The Blue Ribbon Commission report will provide a much-needed framework that helps boards with new indicators for separating signals from the noise and have disciplined discussions on relevant scenarios, risk appetite and innovation."

The Commission will be co-chaired by Dorlisa Flur, NACD.DC^®, director, Blue Cross Blue Shield of NC, Sally Beauty Holdings, United States Cold Storage and UNC Charlotte Belk College of Business, and Jay D. Miller, NACD.DC^®, president and CEO of Nortech Systems, and director, NACD.

"Effective board oversight of strategy execution starts with owning the strategic center - ensuring real choices rest on explicit assumptions, not inherited inertia," said Dorlisa Flur. "From there, the board's job is to actively govern those assumptions: tracking whether they still hold as execution unfolds and distinguishing meaningful signals from noise. And when conditions shift enough to warrant a course correction, boards need to be genuinely present - not reactive. That is not about more involvement; it's about better-directed engagement. Our goal is to give directors a practical playbook for doing exactly that in a more uncertain and unpredictable operating environment."

"Boards are facing a fundamental shift - from advising on strategy to ensuring it delivers results. Yet, even as assumptions, risks and innovation change, the board's role cannot drift to execution," said Jay D. Miller. "This Commission will draw on its expertise and leverage insights from past Commission reports to help boards strengthen oversight, turn execution discipline into a competitive differentiator and create brighter lines between strategy and execution and those of governance and management."

A central focus of the Commission will be clarifying the board's role when it oversees strategy execution. While boards are spending more time on strategy, there is often little shared understanding with management of where strategy development ends and execution begins. That ambiguity can weaken oversight, particularly as boards seek to remain engaged without becoming overly operational.

Over the next six months, the Commission will develop governance recommendations and a practical toolkit to help boards:

• Govern strategic pivots without overreach;
• Monitor execution quality and leadership strength under pressure; and
• Build board and leadership capacity to operate more efficiently under uncertainty.

The Commission's work will leverage prior reports, including Building a High-Trust Board-CEO Relationship, Technology Leadership in the Boardroom: Driving Trust and Value and Fit for the Future: An Urgent Imperative for Board Leadership.

About the NACD 2026 Blue Ribbon Commission 

Cochairs:

• Dorlisa Flur, NACD.DC - Director, Blue Cross Blue Shield of NC, Sally Beauty Holdings, United States Cold Storage, UNC Charlotte Belk College of Business
• Jay D. Miller, NACD.DC - President & CEO, Nortech Systems; Director, NACD

Commissioners:

• Claudia Allen - Senior Advisor KPMG Board Leadership Center, KPMG LLP
• Elizabeth Bastoni - President, Bastoni Consulting Group LLC; Director, CNH Industrial, Coca-Cola Hellenic Beverage Co, Euroapi, Jerónimo Martins, Qorium
• Patty Bedient, NACD.DC - Chair, Alaska Air Group; Chair Elect, Oregon State University; Director, Park Hotels & Resorts, Suncor Energy, Overlake Medical Center
• Wes Bricker, NACD.DC - Global Assurance Leader, PwC US; Director, NACD, American Institute of Certified Public Accountants, XBRL International
• Michael Camuñez - President & CEO, Monarch Global Strategies; Chair, PRISM: The Association of LGBTQ+ Corporate Directors; Director, Edison International; American Funds managed by the Capital Group; Amplify Education, Inc.; Stanford University, Board of Trustees; David & Lucile Packard Foundation, Board of Trustees
• Peter Gleason - NACD President and CEO; Director, International Integrated Reporting Council (IIRC)
• Jamie Gorelick - Partner, WilmerHale; Lead Independent Director, Amazon; Director, Verisign
• Holly Gregory - Cochair, Global Corporate Governance Practice, Sidley Austin LLP
• Sheila Hooda, NACD.DC - CEO, Alpha Advisory Partners; Director, Enact Holdings Inc., Alera Group, AGL Private Credit Income Fund
• Jannice Koors - Senior Managing Director, Pearl Meyer
• Jack Lazar - Director, Astera Labs, Box, Global Foundries, Resideo Technologies. Tonal Systems
• Duncan MacLean - President & CEO, MacLean-Fogg; Chair, The Loomis Chaffee School; Chair, Buildings and Grounds, Museum of Science and Industry; Director, NESL, Thayer School of Engineering, Dartmouth College
• Bob Marcus - Managing Director, Russell Reynolds
• Rita McGrath - Academic Director in Executive Education at Columbia Business School; Director, McCarter Theater
• Brenda Morris, NACD.DC - Partner, CSuite Financial Partners LLC; Director, Boot Barn Holdings, Ideal Image, iHerb Inc.
• Shannon Nash - Partner, Alpha AI; Director, NetScout Systems, SoFi Bank, Lazy Dog Restaurants, Silicon Valley Community Foundation
• Suzanne Nimocks - Lead Independent Director, OwensCorning; Director, Brookfield Infrastructure Partners, RockPoint Gas Storage
• Gaby Sulzberger - Partner, Centerbridge Partners LP; Chair, Sesame Workshop Inc; Director, Eli Lilly & Co, Mastercard Inc., Acorns Grow Inc.
• Ambassador Alex Wolff (Ret.) - Director, Albemarle, Frontier Group Holdings, JetSMART Holdings
• Ellen Zane - Chair, Haemonetics Corp.; Director, Boston Scientific Corp., Synchrony Financial, AgNovos, Savista, Fiduciary Trust Company, Perspectrum, Harvard T.H. Chan School of Public Health, GWU Medical Faculty Associates, Hebrew Senior Life
• Vice Admiral James M. Zortman (USN Retired) - Chair, USAA

Commissioners participate as a service to the governance profession and not as representatives of any organization.  

About the NACD 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 these 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.

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 nearly 50 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.

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