Posts Tagged ‘board leadership’

NACD Directorship 100: A Call for the Most Influential

April 10th, 2014 | By

Wanted: The names of corporate directors and corporate governance professionals who you believe represent the very best in corporate America. Attributes include experience, integrity, knowledge, and courage. The call for nominations for the 2014 NACD Directorship 100 is now live at www.NACDonline.org/Nominations. It takes only a moment to nominate a colleague or peer. Multiple nominations are encouraged. All NACD members are invited and encouraged to participate in our online poll.

The NACD Directorship 100 is the annual lineup of the most influential people in the boardroom and corporate governance. It is composed of 50 directors and 50 governance entities or professionals. The 2014 list, our eighth, will be published in the November/December issue of NACD Directorship and celebrated during a black-tie gala on December 3 in New York City.

Included in the NACD Directorship 100 is the call for nominations for two very special awards: the 2014 Lifetime Achievement and Public Company Director of the Year awards.

What happens once you make a nomination? Our editorial team goes to work vetting each and every candidate, checking to see that the nominee fits within our guidelines for inclusion. Directors who have already been included in a prior NACD Directorship 100 list are no longer eligible for consideration–a change adopted in 2013 to ensure that a fresh crop of directors is featured each year. The list of nominees is ratified prior to publication by the NACD board.

Questions? Please contact me at jwarner@NACDonline.org.

NACD Board Names Dr. Reatha Clark King Chairman

May 23rd, 2013 | By

On May 23, NACD announced the election of Dr. Reatha Clark King to chairman of our board of directors. While Reatha’s role as chair is new, her relationship with NACD goes back many years. She has been a member of NACD since 1993, an NACD director since 2005, and chaired the governance committee in recent years.

An unconventional path

Reatha’s directorship experience is extensive; she has served on the boards of ExxonMobil, Wells Fargo & Co., H.B. Fuller Co., Minnesota Mutual Insurance Co., and The Lenox Group—in addition to several nonprofit organizations. She has followed, however, what I would call an unconventional path to the boardroom. After earning undergraduate degrees in chemistry and math and later a PhD in chemistry from the University of Chicago, Reatha began her career in the sciences, working as a research chemist for the National Bureau of Standards, and then becoming a professor of chemistry and an academic dean at York College. After earning another degree—this time an MBA—she became the president of Metropolitan State University in Minnesota. Reatha was then tapped to head the General Mills Foundation, where she spent 14 years leading the company’s community initiatives. From there, she added the aforementioned board seats to her already impressive resume.

Preparing for 2020 and beyond

Looking ahead, Reatha’s experience in both the corporate arena and academia makes her particularly well-suited to guide NACD and its NACD Directorship 2020 initiative. NACD Directorship 2020 aims to help boards understand, define, and prepare for the emerging and evolving issues that will shape the future of directorship. It gives me great confidence that Reatha will be leading our organization as we prepare for 2020 and beyond.

I’m also honored that Barbara Franklin, who has led our board for the last four years, will continue to serve as a director until May 2014. Barbara has had a tremendous impact on NACD, overseeing our unprecedented membership growth during her tenure and helping us solidify our position as the authority on leading boardroom practices.

As I look at our excellent board of directors and management team, I am more confident than ever in NACD’s ability to deliver on our mission to advance exemplary board leadership.

Honest Assessments Can Reveal, Repair Gaps in Engagement

March 28th, 2013 | By

Regardless of company size or the level of experience on the board, an issue frequently encountered is the disconnect between senior management and the board. From the perspective of senior management, directors can become “comfortably numb” and not sufficiently engaged.

This is not to say management does not respect board members’ expertise and knowledge. Instead, the executive team can grow disappointed if the board is not operating at its full potential. After long periods of service with little inspiration and challenge from senior management and/or board leadership, directors can reach a point in which they are not as engaged as a highly challenged new director may be.

These directors need to be encouraged to be an influential voice on the board, using their skills and experiences to pose the necessary questions on issues presented at meetings.

But how? As head of NACD’s Board Advisory Services, I’ve observed that honest and thorough director evaluations can help boards identify, address, and bridge the gaps that may develop in effectiveness and engagement. The full board and senior management should perform an honest self-assessment in order to get critical and actionable feedback on their skills, participation, meeting preparations, and any other relevant areas.

Recently, NACD announced its Directorship 2020 initiative, encouraging directors to identify where their board and company should be positioned in the year 2020. Once this vision is established, the board can identify where skills gaps need to be filled in, or what additional efforts should be undertaken. This is particularly relevant–especially with today’s rapidly changing regulatory and technological environment–as boards must quickly meet new rules and changes. Even the most successful boards today need to ask themselves if they are well positioned on the path to 2020.