“A close look at this survey reveals that today’s directors are facing unprecedented challenges, demands, and expectations that amount to a new mandate for boards,” said Peter Gleason, president and CEO of NACD.

The survey also found that boards struggle to understand the culture of their own firms. While 87 percent of directors said they have a good understanding of their company's tone at the top, only 35 percent said they felt similarly confident about how the middle feels and only 18 percent said they have a good grasp of the culture's health at the lower levels of the organization.