Clarence Otis grew up in Mississippi and California. His parents valued education despite not finishing high school themselves. Otis attended Williams College and Stanford Law School before working on Wall Street for 15 years. He then spent 20 years at Darden Restaurants, the last 10 as CEO. Otis joined his first corporate board in 1999 while CFO of Darden. He was approached for the board seat through a relationship from a nonprofit board. For subsequent boards, Otis looked for high-quality, consumerfacing companies where he could learn and contribute his expertise.
He advises aspiring directors to aim ambitiously for impactful boards suited to their skills and relationships. Industry expertise matters less than strong general management experience. On boards, Otis listened first to understand issues before speaking up. He focused comments beyond diversity, but didn’t hesitate to
raise diversity questions. He built allies through respectful listening and disagreement. Otis never felt like an imposter, believing his achievements justified his presence.
Post-Floyd, board diversity has slowed. But demographics and business imperatives favor continued progress. Aspiring directors should network to learn of opportunities, without unnecessary readiness programs. Large institutional investors must demand board diversity despite their own shortfalls. Sitting directors
should introduce outstanding candidates. Rotation should emphasize board expansion over term limits. Diversity must connect to business winning – customers, workers, partners. Boards need ongoing external pressures from regulators and shareholders.
