The Nominations Committee leads the process for board appointments, and thus plays a critical role in ensuring that the board has the right mix of skills and experience to take the company forward and ensure that it remains able to compete effectively in the marketplace. The Committee needs to consider a number of key areas to ensure that the appointments it makes are a success for both appointees and company.
In the preparatory stages of recruitment, key areas for consideration are:the profile of existing board members and possible gaps in expertise or diversity, whether the existing grouping works effectively and the roles of executive directors on the board
Company culture is also important. Board appointments must be sensitive to the company’s values, principles and vision.
Once these areas have been taken into account, an idea of the kind of person required should start to emerge. The next phase in the preparatory process should be a more in-depth analysis of the kind of individual that would be right for the role in question.
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