Board service is more than a matter of desire and qualifications; it's about our future
Each year thousands of C-suite executives have the epiphany that they want to be or should be corporate directors of major U.S. companies—somewhat shocking given the financial and reputational risks that board members have become exposed to over the last six years. Nevertheless, I admire their goal and the energy needed to accomplish the task of developing credentials, and getting noticed by the powers that be. Given the risks, where do current directors draw the line on not joining a particular board? And does it change over time?
Barbara Hackman Franklin, director, Aetna and Dow Chemical:
"In deciding whether to join a public company board, ask two questions: One, is management competent to run this business? Two, does management have values and ethics you agree with? If either answer is "no," don't do it. If the answers are "yes" and you like the company's business portfolio, think you could work comfortably with others on the board as well as the CEO, and have experience and expertise to bring to the table, then do it.
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