Is there really anything that the old guard at the Board level can teach potential new Board members about the way things should work? Given the utter hash that Boards have made of their work over the years, I wonder whether we should not ask them to step aside and let the professionals get on with it. It is true that not every company has experienced problems or apparently so, but this is more a very strong measure of good fortune at work rather than good procedures. When a director thinks "there but by the grace of God go I", you know there is something being done wrong or in half measure and the focus has not yet reached them or their companies.
Having the old guard provide continuity would be wrong thing to do if we wish to ensure that the new generation of Board directors follow procedures more in tune with real requirements. And, in this respect, not much seems to have changed when Chairmen are still looking for directors that have done it before and know the ropes.
Companies need to ensure that new Board members, defined as those with no significant Board experience, are well trained in the legal and regulatory requirements of their jobs so that they can use their experience within that context. This is not related to age or gender, as diversity also makes a significant contribution.
Mentoring has a nice ring to it but having the new guys brought up to speed about how things are done, sounds like exactly the wrong way to go!
OAM
See article:
Not many years ago, joining a company as its non-executive director was not much different to joining an exclusive gentleman's club.
It was a good place to hob-nob, but attendance did not have to be frequent. You were among like-minded, influential people, whose acquaintance might benefit your own business affairs. And to start off with, you were expected to keep your head down, so as not to appear too pushy.
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