To compile a “best reads” list for corporate directors and director candidates is a challenge that keeps me on the cutting edge. Feel free to just review the list, provide feedback on what you like and challenge what you feel is not worthy of the list- maybe even make suggestions about what to read next.
Board succession is all about integrated thinking, foresight and decision-making rationale. It is common practice for the governance committee to develop and maintain a matrix that outlines the skills, age, length of service, and background of each sitting director.
Fundamentally, a board evaluation is an opportunity for boards as a collective body to increase their effectiveness based on feedback the evaluation provides. Continuous improvement and development of board and board committee processes and procedures is imperative to ensuring board effectiveness. Today, there is an increased level of acceptance and sophistication in board evaluation. However, the evaluation techniques are still in their infancy.
Starting a new directorship means you may be confronted with a range of challenges. They might include getting to know a group of new people or an unknown culture.
This question came up in a recent conversation with a director who has held the lead director position in a number of public companies. He said a major problem on many boards is that a director is often reluctant to raise an issue, or make a strong comment, if he/she knows the chairman will not be supportive. To address this, he, as the lead director, established a "post formal meeting session" with the outside directors only.
Starting a new directorship means you may be confronted with a range of challenges. They might include getting to know a group of new people or an unknown culture. Since new directors lack a window to see into how a particular board works, here are few areas of focus to help create early success
For the first time in modern history, we now have technology affecting every single sector in the economy. From agriculture to shipping, companies take inputs and collects data to help drive business. This, as an example of the 21st century business environment, requires directors to be up-to-date and will most probably drive the addition of younger board members.
If your career goals include a public company board seat, make these three lists to keep focused on your goal of becoming a director. This is a quick, easy way to keep your “North Star” priorities. Make time to update them monthly and stay on track.
Every board member, like every other person, has hidden biases. They might include weighing older director voices more than those of younger members, or vice versa. Board leadership, such as board or committee chair, has an important role to identify whether unconscious bias has crept into their thought processes and the board’s deliberations.
Want to learn how to gain a Board Seat in 2014? Check out some of these great tips by Tracy Houston!
Want to know the best books of the year for Corporate Governance? Check out this list by Tracy Houston on the best books of the year.
The single most important task before you join a board is due diligence. Being a director on board is a tradeoff. On the one hand, there is exposure to reputational and financial risk. On the other hand, there are benefits – tangible and intangible. In a world marked by disruptive forces, sharp scrutiny, and tighter board accountability, wise director candidates are asking more questions.
Gaining a public company board seat is hard work. It takes patience. You have to really, really want this position. As I speak with board candidates — both first-time and sitting directors — I can hear those that are on the fence within the first few minutes of our conversation. The ones on the fence have a mud-on-the-wall approach — they throw a few things out here and there and hope for the best. They talk on and on about their career but are not able to translate their experience into succinct statements that pinpoint how they can benefit a board and how ...
What If President Obama Had a Board To Advise Him on the Affordable Care Act?
With the Affordable Care Act’s botched Implementation on everyone’s mind, I sat down with Mark Levy to discuss what private companies can learn from the mistakes made. Mark is a former president of a government outsourcing and technology firm, and an advisor to boards and executives.
The legendary Jack Bogle, Founder, The Vanguard Group, stated in a recent interview that directors need to focus more on creating shareholder value. There are many factors that create good, better and best boards. Here are a few focus points that can help create sustained shareholder value.
The tension between directors and management on company information directors require to provide effective oversight and advice. Obviously, there is an imbalance with management knowing more about the company. How can boards overcome this information imbalance?
Growth is the cornerstone of corporate strategy. It is imperative for Boards of Directors to work collaboratively as a team to bring all strategic growth opportunities to the table. In today’s rapidly changing world, where growth is intimately linked with technology with technology enabled growth the norm versus the exception, the BOD team needs technology expertise among its members.
For those of you seeking a public company board position, here are a few take-aways from the study
A number of you have asked about the role of LinkedIn in board networking and how to create executive-level self-promotion. Social media has become the fastest adopted form of media in human history. While we are still in the early stages of this phenomenon, I do think that dedicated time networking on LinkedIn is well spent. Once I reached the level of posting strategic content based on my expertise in LinkedIn groups (once a week with content from my Board Guru™ eBooks), I had my first client within 90 days in the fourth quarter of 2012.
With the recent departure of Citi’s CEO, this video has some timely insights: CEO Expectations of the Board
What do CEOs need most from their board?
