5.1 Differences, changes, convergence, remaining differences, what can we learn from each other

Since the 1990s substantial changes have taken place in the composition and roles of boards of listed companies in all three countries — UK, US and the Netherlands. Because these changes took place at varying times the differences in the direction taken have seemed larger than they in fact ended up to be. Now that the changes have made their mark — and it is an ongoing process — we notice a substantial convergence in the three countries. Because of different backgrounds some notable differences remain.

We also find that there are areas in which the three countries can come closer to each other through continued discussion about better corporate governance. For the Dutch, now able to choose between a two-tier and a one-tier board, the most important question is the practical improvements they can make to their way of functioning by cherry picking from the UK and US, even if a company chooses to keep a two-tier board structure.