Target Board of Directors Chose a New CEO – The Hardest Decision for any Board
Yesterday Target announced they have hired Brian Cornell from Pepsi as their new CEO. This is the second hardest activity that a board of directors must do for a public or private company.
The first was to fire it’s long time…
The Ideal Age for Your Next Board Members
As you know there is no perfect age that a board member should be to contribute the company’s board. There is an ideal age, however, for recruiting your next board member.
The ideal age, in my opinion, is 45-60 years old…
Building the Board of Directors
The board’s role
The role of the board is something that we might be forgiven for thinking requires little discussion. After all, every company has one. Because the structure is very predictable, the roles and responsibilities of the board members appear…
Why You Need to Use a Recruiter for Your Next Board of Director/Advisor
The majority of the time a company’s board either asks their current board members or CEO who do they know for the upcoming new board position the company will be pursuing. This limits the company, plain and simple.
When a company hires…
The Differences Between Serving on Public and Private Company Board of Directors
Most every person who serves on a public board also serves on a private company board, but not the other way around.
In discussing the differences with individuals who have done both they say it is similar to the differences of…
Why Do I Need to Get New Board Members?
If this thought has ever crossed your mind, congratulations. If not, it should. The business world changes at an ever increasing rate and for your company to thrive in this environment it needs oversight and governance which should be regularly examined as…
Tips for Hiring a Non-Family CEO By a Board of Directors
The first non-family member CEO for a multigenerational company is a very big step for both the board and the family owners.
When this occurs the board needs to take their fiduciary responsibilities up another level to make sure the shareholders…
Seven Attributes For Hiring the (almost) Perfect Board Member
As you know there are no “perfect” people in the world so we focus on “almost perfect”. When you hire a new board member, knowing what to look for is critical to getting the highest value from this individual. The value…
Benefits of Conducting a National (International) Search for a New Board Member
Look around your board room at the next meeting and think about where your board members are located. If they all live within 50 or 100 miles from you business you are most like missing something.
Ask yourself the following questions:
Does…
The Key to Finding a Superstar Board Member
Years ago, I was tasked with upgrading a private company’s board of directors. When I met with the Chairman of the Board, we discussed criteria for the next board member. Once that discussion was done, the Chairman said, “I want…