As expected, 2014 proved to be a challenging year for boards. The legal and economic environments continued to grow more complex, and directors faced increasing scrutiny from investors and governmental authorities in the forms of market reaction, shareholder activism, litigation, and enforcement and regulatory activity. We expect these trends to continue, and boards will need to remain extremely proactive in their oversight and involvement in 2015. This memorandum reviews issues that we believe will require the attention of boards of directors and management in 2015.
