Al Zollar got his first board position at Chubb Corporation through a referral. His technology experience running software businesses at IBM was attractive to boards. He recommends aspiring directors assess what skills companies in specific sectors need, review nominating committee members, and reach out to contacts to learn what’s required.
General Management experience running multi-billion dollar divisions was important for him. He first looks to his network when a board opportunity arises. Some boards wanted diversity. He jumped into diversity discussions, believing diverse perspectives improve governance. Later he influenced nominations. The best stepping stone was running large businesses as a CEO or divisional head. He tries contributing but avoids over-participating. He gets to know fellow directors at dinners and in between meetings. He leans into diversity issues more in committees than at the board level.
Board service is more engaged now with activism and disruption versus earlier more about supporting management. He expects slower black director appointments with diversity backlash, but is encouraged that more in boardrooms recognize the value of diversity. Search firms should partner with groups developing minority candidates. Sitting directors should mentor and introduce candidates. Institutional investors should push racial diversity more. More public companies, guided to markets by firms like NASDAQ, will create opportunities.
Some tenured directors provide continuity but 10+ years may be too long. Bigger boards become unwieldy. Businesses need a push on diversity. It’s morally right and a business imperative due to unique lived experiences that shape culture and consumption. Know your unique contributions and find where they’re needed.
