The business literature is filled with stories regarding Boards of Directors governance. Issues surrounding ethics, board of directors liability, executive compensation, conflict of interest and independent oversight have all received a tremendous amount of attention.
Stockholder pressure and new regulations have forced many public companies to pursue significant changes in the role of their Boards. Private companies are also closely examining their Board composition, activities, and potential shortcomings.
Beyond the regulatory, governance, and accounting issues, a company can receive tremendous benefits from a diverse, objective Board of Directors in terms of strategy and established relationships. During periods of economic and marketplace challenges, this input can be especially critical to the growth and success of the company.
Questions To Consider
As you evaluate the composition and contributions of your Board, there are a number of questions to consider, including:
- Does your Board represent the current and future employees and customers of the company?
- Does your Board have the accounting, audit, and financial expertise to address the issues in today’s market?
- Is your Board addressing the diversity issues, including ethnic, gender, and even geographic, which represent critical elements of your company’s business environment?
- Does your Board include a variety of skill sets and viewpoints which will provide a broad range of opinions and approaches to problems?
- Is your Board capable of addressing the strategic direction of the company and leading the company to the next level of success?
If you are ready to expand your Board membership or replace a retiring Board member, you want to make sure that you are adding an individual who will make a meaningful contribution to the success of the company.
The Board must make an assessment of its current composition, the needs and future of the company, and the types of skills and experiences which will enable the company to most effectively meet its objectives.
Carl J. Taylor & Co. is prepared to assist you with this critical decision. The firm has many years experience finding and recruiting board members for both private and public companies using a proven recruitment plan, process and strategies. Let us work together to find and attract your next Board member.
For a free consultation regarding your company’s current or anticipated hiring needs, please call (972) 490-7697 or email firstname.lastname@example.org