Welcome, Stranger
from What Directors Think 2003
SURVEY SAYS: Where directors come from
Answers to a multiple option question show directors look for talent in many places:
92.5% say they use boardroom contacts to find new members,
68.7% say they use management contacts, and
44.9% use search firms.
Listen, learn, and resist the temptation to jump right in with answers. I say that because in part, the kinds of individuals who show up on boards are all very successful leaders in their respective fields and are probably not used to listening and learning; they are the people looked to for the answers. In time, new board members will have plenty of chances to give answers. But listen, learn, and ask questions in the early months of service.
Tom Uhlman, 56
Managing Partner, New Venture Partners, Murray Hill, New Jersey
McData
Before becoming a director, make sure you thoroughly research any company. You should have a passion for the company’s mission and products, feel that you have something to contribute, and respect both the management style of the company and the workings and interactions of the board.
Juanita T. James, 51
Vice President and Project Leader, Pitney Bowes, Stamford, Connecticut
Rouse Co.
Diligently study all the materials, attend all the meetings, and get to know the management team. I’ve found it invaluable to attend our analyst meetings and to go to Japan to understand how AFLAC works there. And if there are conventions or retreats and things like that, I’d recommend directors attend those. Finally, read, read, and reread—stay up-to-date.
Robert L. Wright, 66
Chairman Emeritus and Senior Adviser, Dimensions International Inc., Alexandria, Virginia
AFLAC
Probably, hire a private detective. I mean, you really have to investigate any company you’re considering joining, and you really have to be sure there aren’t any surprises before you say, “Yeah, I’ll join.” Not only are you going to have to be working closely with the rest of the people on the board and management, but you have to trust them, trust their integrity, and there’s no other way than to thoroughly investigate.
Daniel L. McGinnis, 64
Retired President, CEO, and Director, Sotas Inc., Gaithersburg, Maryland
Atlantic Coast Airlines Holdings
There’s a large front-end investment you have to make to be effective. Invest the time beforehand so you can take a running start at the first meeting. Demand an excellent orientation. Spend several days learning the company and visiting the properties.
Dennis R. Beresford, 65
Former Chairman, Financial Accounting Standards Board; Ernst & Young Executive Professor of Accounting, Terry College of Business at the University of Georgia, Athens
Kimberly-Clark, Legg Mason, MCI
Get a sense of the rhythm of the business, how they make money, what their issues are, where their opportunities are, what their cornerstone business strategy is, what their talent strategy is. Businesses are usually open to board members’ spending a considerable amount of time on orientation. Try spending an extra night with management before a board meeting, seeing some of the facilities. And ask a lot of questions.
Harriet Edelman, 47
Senior Vice President and CIO, Avon Products, New York City
Blair Corp., Hershey Foods
Work hard and have fun. Or does that count as two pieces of advice? c
Gail A. Graham, 53
General Manager, Mississippi Market Natural Foods Cooperative, St. Paul, Minnesota
United Natural Foods
