Board appointments can make or break a company.
There is no doubt that corporations requireu00a0a strong Board. Those that examine the company with a view to engaging with it, whether it be as an investor, a supplier, a customer or potential executive, look to see who are the Board members. It is this group -the Board- that are important, with their blend of skills and experience that add value to the organisation.
So, in making anu00a0appointment to a Board, it is very important that these factors are kept in mind. It is certainly not about u201cmatesu201d or who knows who, but a proper plan to fill the gap of experience and with the background that will add strength to the Board and its ability to deliver.
There is the need for a proper and independent process, which will deliver the best solution. To start with, what are the current skills and experience u201caround the tableu201d? This review identifies the gap. Furthermore, this exercise will lead to defining the required person profile.
Now to the process that will deliver the best result, it is important to engage anu00a0independent experienced consultant. This will enable a proper search for the profile sort. The current Board can then make a decision based on a search of the u201cmarketu201d, which delivers an appropriate short-list from which a proper appointment can be made.
Again, it is important to have a Board that is a group that will deliver successful outcomes for the organisation, and have proper governance which the shareholders, the employees and its related parties.
Remember, these appointments are critical to the success of the business, it is not a matter of a u201ccollection of friendsu201d but it is how outsiders will seeu00a0the Board, the organisation. Therefore, its capability. The best process will produce the best outcome.
By Trevor Clark, OAM
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Over his 30 years plus as a senior executive and board search consultant, Trevor Clark has followed and developed the procedure as set out to deliver the required result.
He has an extensive network in Australia and New Zealand built over many years.
Has conducted the professional search process on hundreds of occasions, so is very familiar with how it is done to achieve the best outcome.
Assisted in the process of defining the right profile required.
Has the experience to negotiate the best possible outcome.
Is independent and acts at all times with the necessary discretion and confidentiality required for this work.
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