Different Types of Boards and Corresponding Liabilities
February 11, 2020
Twenty-five participants came together to hear two experts in the field of board service. Kirsten Houghton, Principal at SVA, spoke to the group about the various kinds of boards, their similarities and differences. She also shared stories illustrating the types of situations that can arise while serving on a business board.
Anne Ross, Partner at Foley & Lardner Law Firm, described the risks and rewards of serving on various business boards. She discussed some of the key questions to ask to ensure that the company has adequate Director and Officer (D&O) coverage, and shared insightful advice gleaned from her years of service on multiple boards.
As a follow-up to comments received at the January workshop, Project REACH steering committee member, Kathy Blumenfeld shared Financial Intelligence, a good resource book to help develop additional financial acumen.
The Business Board Search and Selection Process
March 10, 2020
Karl Alleman, US managing partner from Egon Zehnder, an executive search firm with clients world-wide, spoke to a group of approximately 26 TEMPO members about what businesses look for when seeking new board members and the processes typically used. He described the approach their firm and many businesses use when recruiting new board members and shared some interesting data re the competencies most in demand today. He also presented material on how to position oneself for first-time board service.
Key points included; 1) The need to objectively assess your readiness and qualifications for business board service 2) Creating a Board Biography ( different from a resume) that tells the story about the potential value you would bring to a business board and why you want to serve, and 3) The importance of raising your profile in business circles and the community generally.
Mr. Alleman also provided advice on how to prepare for interviewing for a board spot. Finally, he shared some valuable pointers on how to get off to a good start as a new director. There were many questions and comments and he graciously handled as many as time allowed.