Dr. Walter Massey discusses his extensive experience serving on corporate boards. He explains that when he first joined boards in the 1980s, most board members were selected by CEOs and consisted primarily of other CEOs. Massey’s first major board was Amoco, which he joined after getting to know people through his role as Director of Argonne National Laboratory. He emphasizes the importance of networking, social connections, and being part of relevant organizations in order to be considered for board positions.
Massey highlights the value of serving on committees, especially chairing them, in order to make substantial contributions to the board’s work. He advises new board members to identify areas where they can add value based on their expertise. Massey also stresses the significance of thoroughly preparing for meetings, asking questions, and building relationships with both fellow board members and management to gain a deeper understanding of the company.
When discussing diversity on boards, Massey believes it brings important new perspectives beyond just focusing on the bottom line. He remains cautiously optimistic about the future of Black representation on boards, while acknowledging ongoing challenges. Massey suggests that to continue promoting diversity, it’s crucial to demonstrate the positive impact made by individuals who have attained positions through affirmative action policies. He also emphasizes the critical role search firms play in identifying diverse candidates and encourages existing Black directors to actively mentor and recommend aspiring board members.
