Stockholder pressure and new regulations have forced many public companies to pursue significant changes in the role of their Boards. Private companies are closely examining their Board composition, activities, and potential shortcomings.
During a challenging economic time, the addition of a new Board member may represent one of the more productive and relatively low cost acquisitions a company can make. Executives Unlimited is skilled in the creation, evaluation, and transition of Boards, including the replacement of and search for new Board members.
Assessing Board Strength
Companies must periodically assess their Board composition. In evaluating the composition and contributions of a Board, there are a number of issues to address including:
- Is your Board capable of addressing the strategic direction of the company that ultimately leads the company to the next level of success?
- Does your Board include a variety of skill sets and viewpoints which will provide a broad range of opinions and approaches to problems?
- Does your Board have the accounting, audit, risk management and financial expertise to address these issues in today’s market?
- Does your Board address diversity issues including ethnic, gender and even geography, which may represent critical elements of your company’s business environment?
Commitment to the Board
When expanding a Board or replacing a retiring member, determining his/her time availability and level of commitment is of utmost importance. Many experienced Board members resign because of the increased time obligation serving on a Board requires in conjunction with existing professional obligations. The proper fit avoids the need for frequent replacements which builds member confidence.
Success from Experience
Executives Unlimited’s extensive experience identifying, recruiting, and fulfilling Board placements takes the worry out of this crucial decision. With experience spanning a wide variety of industries and philanthropic purposes, Executives Unlimited consults with the Board to discover their needs and goals and sources the appropriate talent to fit their culture.
Discover if Executives Unlimited is the right fit for your Board placement needs. Call today for a complimentary consultation.