Update

Roadmap for Aspiring Directors

  1. Focus on excellence in your day job.
  2. Understand how boards work through service for example on not-for-profit and educational boards (IE learn about governance).
  3. Develop a board oriented resume, codifying your skill sets, especially those currently attractive to boards. Define where you bring the most value, what distinguishes you.
  4. Demonstrate leadership, governance, and a collegial style in some institution like a not-for-profit.
  5. Find opportunities to build skill sets most attractive to boards such as via special job assignments.
  6. Investigate courses on board preparedness and attend board candidate mixers.
  7. Define your specific purpose/objectives for serving on a board, especially for that first board.
  8. Identify several business mentors including some related to your job (understand differences between coaches, mentors, and sponsors).
  9. Develop a target list of boards on which you would like to serve and your rationale for serving.
  10. Join/Connect with board oriented networks such as MLT, NACD, Illumyn Impact (formerly Him for Her), ELC, Black Women on Boards, and the Black Directors Conference.
  11. Consider service on private company, advisory, and international boards. Do not limit your selection to only your domain knowledge.
  12. Get some operating experience.
  13. Distribute your board oriented resume to search firms, especially the boutique firms and those with minority search professionals.
  14. Identify a champion both within the search business and one already sitting on boards, and develop a list of references who will advocate for you.
  15. Understand that boards will primarily be looking at how you think strategically and how you fit culturally.
  16. Understand the time commitments related to board service, including requirements between board meetings, and the impacts on your job, family, and vacations.
  17. Be aware that you never know who is watching you. You might never know from where that first board opportunity will come.
  18. Work on developing your fit, your style/brand in the boardroom and on understanding differing board cultures.
  19. Develop your list of interview questions for considering specific board opportunities. Remember interviewing for a board is different than for a job.
  20. Be selective when considering your first board. It should be one you care about and think you can add value to. Do not jump at the first offer.
  21. Let people know well in advance that you are interested in becoming a corporate board director and why.
  22. Prepare thoroughly for board interviews by, for example, reading SFC filings and analyst reports and researching existing board members.
  23. Network, network, network.

Playbook for Becoming More Effective on Boards

  1. Structure comprehensive onboarding programs including one-on-one visits with other board members and executive management. 
  2. Pick up on board culture by, for example, being aware of board seating, listening culture, and committee assignments. 
  3. Balance your initial listening with establishing yourself by speaking up. 
  4. Determine both formal and informal board leadership, especially thought leadership. Understand what board dynamics are. 
  5. Figure out where you can best make a contribution in order to achieve peer acceptance. Have an enterprise level perspective. Define how to leverage your work and your lived experiences.
  6. Help steer your committee assignments to cover your initial learning, your curiosity, your ability to make a contribution, and your path to committee leadership. Serve some time on the Audit committee to best learn how the company operates, but do not overlook the Compensation or Nominations and Governance committees.
  7. Broaden your knowledge of the company and board by informally sitting in committees where you are not formally assigned.
  8. Develop some relationship with the CEO, Chair/Lead director, and chair of Nominations and Governance.
  9. Recruit some board allies and build a strong relationship with one member of the executive management.
  10. Select a topic around which you could develop board leadership over the longer term.
  11. Develop a network outside the company to gain perspectives on important issues impacting the board and to better understand the industry. 
  12. Involve yourself in the risk identification and management process. Be guided by that bright line between governance and management. 
  13. Be your authentic self in the boardroom. Get perspective and help if becoming overwhelmed by imposter syndrome/social issues. Understand that the best way to manage any imposter syndrome is by being super prepared. 
  14. Find ways such as golf to informally get to know other board members and for them to get to know you between meetings. 
  15. Get included in between board meetings, before board meeting dinner discussions, and special committees.
  16. Develop a strategy for achieving peer acceptance as well as your brand/style for working in the boardroom. Be mindful that you can often make more of a contribution at the committee level.
  17. Find ways to expand your skill set and to bring other aspects of your life experience into the boardroom.
  18. Develop the ability to ask good probing questions that engage other board members. Find balance in supporting management while still holding them accountable. Decide which of your questions should be asked at the board level versus the committee level versus the board dinner. 
  19. Determine an approach to speak out on issues like DEI and ESG. 
  20. Continue to educate yourself by reading analyst reports on companies and the industry.
  21. Find a way to contribute to developing the strategic plan and alternatives.
  22. Rotate assignments on committees, including service on Nominations and Governance to ensure advocacy for diversity from the inside, and eventually seek board/committee leadership. 
  23. Focus on longer term shareholder value, including diversity being a driver of higher performance. Be guided by the four P’s of board service. 1. be prepared, 2. have patience, 3. have perseverance, and 4. have a process. Develop a style that includes being open to your colleague’s input. Learn how to disagree in a constructive manner. Be comfortable with sometimes being uncomfortable in the boardroom. 
  24. Avoid being pigeonholed as the designated minority director. Remember domain knowledge is often less important than good business sense. Understand that the most effective directors bring differing perspectives, do not dominate the conversation, and encourage others to engage. Note that the loudest voice in the room isn’t always the voice that leads. 
  25. Note that the board room is like playing in a band, you have to listen to and appreciate all the pieces.

Punch List for Increasing Minority Board Representation

  1. Support newly appointed minority directors, especially those selected post George Floyd, because they are the best current case for advocating diversity. 
  2. Speak up loudly regarding diversity to counter the recent attacks on DEI, ESG especially with regulators, institutional investors, ETC. 
  3. Encourage corporations to get acquainted with the ample supply of capable aspiring minority directors in advance of searches. 
  4. Ensure that we, retired and sitting directors, on our own can promote minority board representation such as by increased mentoring and referrals. 
  5. Pursue governance changes relating to board rotation/refreshment in such areas as term limits, board size, and board evaluations. 
  6. Encourage greater disclosure by corporations especially regarding skill set inventory and changing needs. 
  7. Insist on accountability regarding promises/commitments made by corporations post George Floyd. 
  8. Support giving corporations a push, such as being required to disclose more information regarding such items as diversity board evaluations (as opposed to forcing mandates and quotas). 
  9. Work more closely with other underrepresented groups/allies to increase minority representation on corporate boards. 
  10. Collect and share examples where diversity has significantly made a difference in corporate performance. Encourage other corporations not to be left behind.
  11. Continue to stress the business case for diversity.
  12. Make sure each individual minority director is not the last minority person selected for a seat on the board they currently serve. 
  13. Get minority directors into positions of board and committee leadership, and especially get involved with the Nominating and Governance committee. 
  14. Pressure institutional investors, regulators, consultants, and banks to better represent the range of client views on items such as diversity and the environment. 
  15. Recruit more minorities to be involved with corporate board search firms. 
  16. Put the spotlight on private corporations to diversify their boards.

"Good Voices" - A Call for Action

  1. Identify, prepare, and introduce aspiring minority candidates. 
  2. Expand mentoring programs and introductions, including candidate mixers, in advance of specific searches. 
  3. Encourage coordination of data sources and identification of board opportunities. 
  4. Expand speaking up for diversity. 
  5. Stress business case for diversity in helping to achieve the common goal of increasing shareholder value. 
  6. Advocate governance changes to improve board refreshment and board effectiveness.

Roadmap for Aspiring Directors

  1. Focus on excellence in your day job.
  2. Understand how boards work through service for example on not-for-profit and educational boards (IE learn about governance).
  3. Develop a board oriented resume, codifying your skill sets, especially those currently attractive to boards. Define where you bring the most value, what distinguishes you.
  4. Demonstrate leadership, governance, and a collegial style in some institution like a not-for-profit.
  5. Find opportunities to build skill sets most attractive to boards such as via special job assignments.
  6. Investigate courses on board preparedness and attend board candidate mixers.
  7. Define your specific purpose/objectives for serving on a board, especially for that first board.
  8. Identify several business mentors including some related to your job (understand differences between coaches, mentors, and sponsors).
  9. Develop a target list of boards on which you would like to serve and your rationale for serving.
  10. Join/Connect with board oriented networks such as MLT, NACD, Illumyn Impact (formerly Him for Her), ELC, Black Women on Boards, and the Black Directors Conference.
  11. Consider service on private company, advisory, and international boards. Do not limit your selection to only your domain knowledge.
  12. Get some operating experience.
  13. Distribute your board oriented resume to search firms, especially the boutique firms and those with minority search professionals.
  14. Identify a champion both within the search business and one already sitting on boards, and develop a list of references who will advocate for you.
  15. Understand that boards will primarily be looking at how you think strategically and how you fit culturally.
  16. Understand the time commitments related to board service, including requirements between board meetings, and the impacts on your job, family, and vacations.
  17. Be aware that you never know who is watching you. You might never know from where that first board opportunity will come.
  18. Work on developing your fit, your style/brand in the boardroom and on understanding differing board cultures.
  19. Develop your list of interview questions for considering specific board opportunities. Remember interviewing for a board is different than for a job.
  20. Be selective when considering your first board. It should be one you care about and think you can add value to. Do not jump at the first offer.
  21. Let people know well in advance that you are interested in becoming a corporate board director and why.
  22. Prepare thoroughly for board interviews by, for example, reading SFC filings and analyst reports and researching existing board members.
  23. Network, network, network.

Playbook for Becoming More Effective on Boards

  1. Structure comprehensive onboarding programs including one-on-one visits with other board members and executive management. 
  2. Pick up on board culture by, for example, being aware of board seating, listening culture, and committee assignments. 
  3. Balance your initial listening with establishing yourself by speaking up. 
  4. Determine both formal and informal board leadership, especially thought leadership. Understand what board dynamics are. 
  5. Figure out where you can best make a contribution in order to achieve peer acceptance. Have an enterprise level perspective. Define how to leverage your work and your lived experiences.
  6. Help steer your committee assignments to cover your initial learning, your curiosity, your ability to make a contribution, and your path to committee leadership. Serve some time on the Audit committee to best learn how the company operates, but do not overlook the Compensation or Nominations and Governance committees.
  7. Broaden your knowledge of the company and board by informally sitting in committees where you are not formally assigned.
  8. Develop some relationship with the CEO, Chair/Lead director, and chair of Nominations and Governance.
  9. Recruit some board allies and build a strong relationship with one member of the executive management.
  10. Select a topic around which you could develop board leadership over the longer term.
  11. Develop a network outside the company to gain perspectives on important issues impacting the board and to better understand the industry. 
  12. Involve yourself in the risk identification and management process. Be guided by that bright line between governance and management. 
  13. Be your authentic self in the boardroom. Get perspective and help if becoming overwhelmed by imposter syndrome/social issues. Understand that the best way to manage any imposter syndrome is by being super prepared. 
  14. Find ways such as golf to informally get to know other board members and for them to get to know you between meetings. 
  15. Get included in between board meetings, before board meeting dinner discussions, and special committees.
  16. Develop a strategy for achieving peer acceptance as well as your brand/style for working in the boardroom. Be mindful that you can often make more of a contribution at the committee level.
  17. Find ways to expand your skill set and to bring other aspects of your life experience into the boardroom.
  18. Develop the ability to ask good probing questions that engage other board members. Find balance in supporting management while still holding them accountable. Decide which of your questions should be asked at the board level versus the committee level versus the board dinner. 
  19. Determine an approach to speak out on issues like DEI and ESG. 
  20. Continue to educate yourself by reading analyst reports on companies and the industry.
  21. Find a way to contribute to developing the strategic plan and alternatives.
  22. Rotate assignments on committees, including service on Nominations and Governance to ensure advocacy for diversity from the inside, and eventually seek board/committee leadership. 
  23. Focus on longer term shareholder value, including diversity being a driver of higher performance. Be guided by the four P’s of board service. 1. be prepared, 2. have patience, 3. have perseverance, and 4. have a process. Develop a style that includes being open to your colleague’s input. Learn how to disagree in a constructive manner. Be comfortable with sometimes being uncomfortable in the boardroom. 
  24. Avoid being pigeonholed as the designated minority director. Remember domain knowledge is often less important than good business sense. Understand that the most effective directors bring differing perspectives, do not dominate the conversation, and encourage others to engage. Note that the loudest voice in the room isn’t always the voice that leads. 
  25. Note that the board room is like playing in a band, you have to listen to and appreciate all the pieces.

Punch List for Increasing Minority Board Representation

  1. Support newly appointed minority directors, especially those selected post George Floyd, because they are the best current case for advocating diversity. 
  2. Speak up loudly regarding diversity to counter the recent attacks on DEI, ESG especially with regulators, institutional investors, ETC. 
  3. Encourage corporations to get acquainted with the ample supply of capable aspiring minority directors in advance of searches. 
  4. Ensure that we, retired and sitting directors, on our own can promote minority board representation such as by increased mentoring and referrals. 
  5. Pursue governance changes relating to board rotation/refreshment in such areas as term limits, board size, and board evaluations. 
  6. Encourage greater disclosure by corporations especially regarding skill set inventory and changing needs. 
  7. Insist on accountability regarding promises/commitments made by corporations post George Floyd. 
  8. Support giving corporations a push, such as being required to disclose more information regarding such items as diversity board evaluations (as opposed to forcing mandates and quotas). 
  9. Work more closely with other underrepresented groups/allies to increase minority representation on corporate boards. 
  10. Collect and share examples where diversity has significantly made a difference in corporate performance. Encourage other corporations not to be left behind.
  11. Continue to stress the business case for diversity.
  12. Make sure each individual minority director is not the last minority person selected for a seat on the board they currently serve. 
  13. Get minority directors into positions of board and committee leadership, and especially get involved with the Nominating and Governance committee. 
  14. Pressure institutional investors, regulators, consultants, and banks to better represent the range of client views on items such as diversity and the environment. 
  15. Recruit more minorities to be involved with corporate board search firms. 
  16. Put the spotlight on private corporations to diversify their boards.

"Good Voices" - A Call for Action

  1. Identify, prepare, and introduce aspiring minority candidates. 
  2. Expand mentoring programs and introductions, including candidate mixers, in advance of specific searches. 
  3. Encourage coordination of data sources and identification of board opportunities. 
  4. Expand speaking up for diversity. 
  5. Stress business case for diversity in helping to achieve the common goal of increasing shareholder value. 
  6. Advocate governance changes to improve board refreshment and board effectiveness.

Project Status Update