For women and for first-timers, consider a non-executive director position.
AS SOMEONE WITH A GREAT passion for business, I aspired to serve on boards of directors, overseeing corporate strategies and policies. Yet, in the 21st century, board membership not only requires a huge time commitment, but also entails risks to one's personal reputation and wealth through legal liabilities.
My first board experience helped to convince me to assume these risks to participate at the highest level of business leadership. And yet, the first Non-Executive Director (NED) position I accepted almost didn't happen. About eight years ago, a search firm recruiter called me and described a privately held company that employed a fifth-generation family member as CEO and Chairman. The recruiter said the board of this company wanted me to interview to be considered for an open board position.
Having never heard of the company and being snobbish about wanting a public corporation, I first said I was not interested. The recruiter encouraged me to spend a day in conversation with the CEO. That day changed my life. The CEO proved to be a visionary leader who combined the disciplines used by a public company with the long-term approach to building values that defines family companies. This company operated convenience food stores in selected areas of the Eastern part of the U.S. that produced sales of about $1 billion. My due diligence and meeting with the CEO convinced me to accept the board position. And it was this board experience that led to other NED positions in public companies.
See full Article.
Posts
