Boards enact oversight more than they announce it — substance leads signal.

Firm size and resources explain almost none of it. Governance maturity is not a function of how big you are.

Most "AI-governance" roles are mislabeled build roles. Only ~15% actually govern.

Some govern quietly; others announce it loudly. The two rarely coincide.

On the board channel, substance comes before the announcement, not after.

Boards enact oversight more than they announce it — substance leads signal.

Firm size and resources explain almost none of it. Governance maturity is not a function of how big you are.

Most "AI-governance" roles are mislabeled build roles. Only ~15% actually govern.

Some govern quietly; others announce it loudly. The two rarely coincide.

On the board channel, substance comes before the announcement, not after.