War for Talent Comes to the Boardroom

Source: Boyden
[posted on 02/01/2010]

Companies are more aggressively recruiting directors due to the insufficient supply of qualified candidates who are able to meet new demands of corporate governance and critical expertise, according to a new installment of Boyden’s Board Series: Changing of the Board, released today by Boyden global executive search and Board Advisory.

“The quality of independence will be the critical difference between directors of the past and directors of the future,” said Chris Clarke, President and CEO of Boyden World Corporation. “The strength and independence of boards are among the critical indicators that investors consider before buying stock. Thus, the next generation of directors must be completely unfettered in steering company strategy and operations.”

Part Two of the “Changing of the Board” series, entitled “Better Directors for Better Boards,” includes contributions from a number of high-level experts and advisors who address the challenges and solutions for companies in the boardroom. Part Two explores the following topics.

- Risk Management is the most sought after experience for future directors
- Imperative need for complementary strengths and diversity of experience
- Directors expected to carry heavier workloads than in past
- Growing challenge of board service forcing companies to compete harder for directors
- Need for more rigorous and transparent recruiting process
- Insider look via an interview with “Director X,” a CEO of a Midwestern U.S. company who has served on four boards of companies listed on the New York Stock Exchange.

“Today’s directors need to be different, because the world is now different,” said Trina Gordon, Chairman of Boyden World Corporation and Managing Director of Boyden Chicago. “New directors should be more diverse in terms of gender and race and boards will need to be more international as supply chains become even more global.”

About the Series

The Boyden “Changing of the Board” series Part One, released earlier this year, is an introduction to the topic “Boards in Crisis.” Part Two, “Better Directors for Better Boards,” Part Three “Why Ethics are Not Optional,” and Part Four: “Boards and Corporate Governance” will also be released over the next few months on www.boyden.com.