National Association of Corporate Directors

The National Association of Corporate Directors (NACD) is an independent, not-for-profit, section 501(c)(3) founded in 1977 and headquartered in Arlington, Virginia. NACD's membership includes the entire boards of 1,400+ corporations as well as several thousand individual members, for a total of more than 21,000 members. Membership is open to individuals serving on boards of public, private, and nonprofit organizations from both the United States and overseas. The organization is registered with the National Association of State Boards of Accountancy as a sponsor of continuing professional education on the National Registry of CPE Sponsors.
NACD operates at both a national and local level, with more than 20 chapters across 35 major metropolitan cities within the United States providing educational programs and networking opportunities.
The organization collaborates with various other organizations such as Heidrick & Struggles, KPMG's Audit Committee Institute, Marsh & McLennan Companies, Pearl Meyer & Partners, and Sidley Austin.
History.
NACD was founded in 1977 with the goal to educate directors. In 1978 it announced the first comprehensive Director Education Program. Ten years later, NACD recognized the first Director of the Year. In 1993, NACD published its first Blue Ribbon Commission Report, offering ten principles to guide audit committees and their oversight of financial reporting as well as risk management and internal and external auditors. In the early 2000s, NACD's Blue Ribbon Commission Report on Board Evaluations helped optimize board composition, while the organization helped shape Sarbanes-Oxley and influence the new New York Stock Exchange (NYSE) and NASDAQ listing rules. In 2004, NACD co-found the Global Director Development Circle, launched in response to the need to keep directors ahead of international corporate governance and legislation. This program led NACD to globalize the Certificate of Director Education program in 2006. The program has since evolved into the Global Network of Director Institutes. In 2010, NACD acquired Directorship magazine, a magazine dedicated for today's corporate officers and board of directors.
Mission.
NACD's mission, as stated on its website, is to elevate board performance by providing the information and insights that board members need to confidently navigate business challenges and enhance shareowner value.
Advocacy.
NACD serves as a resource during the legislative process by regularly sending research, publications and comment letters to the United States Congress, the United States Security and Exchange Commission and the Public Company Accounting Oversight Board. NACD employees have testified and conferred with key committees as they prepare for Congressional hearings. Research provided by NACD is cited in the legislative and regulatory arenas, providing statistics regarding boards as well as leading practices addressing key issues, such as boardroom compensation.
Courses and events.
NACD delivers more than 400 programs nationwide to 21,000+ directors each year. These include national and chapter events, foundation courses, annual Summit, peer to peer roundtables, specialty events, and online learning opportunities.
NACD Summit.
NACD's annual Summit is the largest and most influential director forum in the world. The event gathers thousands of directors each year.
Special events.
NACD specialty programming includes signature annual events and new programming to reflect emerging trends in the directorship field. These events include From Battlefield to Boardroom, NACD Directorship 100, and the NACD NXT Gala.
Foundation courses.
NACD offers director education courses as the foundation of two NACD credentials, NACD "Fellowship" and NACD Directorship Certification.
Director Professionalism is the prerequisite course for certification and provides directors with boardroom fundamentals.
Experienced directors looking to become "NACD Board Leadership Fellows" must attend NACD Master Class"." The course offers fireside chats with prominent CEOs, analysis of emerging disruptions, and a forum for candid discussions with director peers.
Virtual learning.
NACD's virtual learning programs offer comprehensive education for current and aspiring boardroom leaders. Programs include webinars, Directorship Essentials Series, and the Art of Directorship Series.
Peer-to-peer programs.
NACD offers various peer programming throughout the year. Programs include Advisory Councils, General Counsel programming, and Chapter programs.
Credentials.
NACD enables directors to earn credentials that demonstrate a commitment to continuous learning and board leadership. NACD aims to help directors stay ahead of emerging issues and connect with a distinguished network of NACD-credentialed directors.
NACD Directorship Certification.
NACD's directorship certification is the premier US-based certification program designed to qualify corporate directors for effective boardroom performance. Based on a professional examination and continuing education, this certification verifies that directors possess the knowledge, expertise, and skills needed to discharge their fiduciary responsibilities as board members.
NACD Fellowship.
The NACD Board Leadership Fellowship program provides experienced board leaders with a pathway of continuous insights, boardroom intelligence, and leading boardroom practices.
Cyber Risk Oversight Certificate.
NACD has partnered with the CERT Division of the Software Engineering Institute at Carnegie Mellon University and Ridge Global to develop the Cyber-Risk Oversight Program. This program is designed for directors who wish to enhance their understanding of enterprise cyber-risk issues. The course confers the CERT Certificate in Cybersecurity Oversight, a tangible credential that demonstrates a commitment to cybersecurity literacy.
Role in the Corporate Governance Movement.
In 2001 and 2002, the unexpected bankruptcies of Enron and WorldCom brought increased public and government attention to corporate governance and the role of the board of directors. In February 2002, Roger Raber, former CEO of NACD, was called to testify before House Energy and Commerce Committee, chaired by Billy Tauzin (R-LA), regarding the failure of Enron Corporation. At request of Committee, Raber submitted 10 suggested standards, based on the Report of the NACD Blue Ribbon Commission on Director Professionalism (1996/2001/2005), for public company governance, submitting same to the New York Stock Exchange (NYSE) and the NASDAQ on May 1, 2002. In November 2003, the Securities and Exchange Commission approved new listing requirements for both, which were influenced by NACD's recommendations.
The ten core recommendations are as follows: