Kaye Foster, originally from Barbados, came to the US at 19 with $50 in her pocket, seeking a “bigger life.” Her mother stressed the importance of education, and Kaye eventually pursued an MBA from Columbia University. She gained extensive corporate experience at Pfizer, Johnson & Johnson, and a startup acquired by Amgen. When approached for her first board position, she was the second independent director, the only woman, and the only person of color.
Kaye believes diversity is critical for driving innovation and improving the quality of decision-making on boards. She advocates for human capital issues as part of the enterprise risk framework and works to increase representation through her roles on nomination and governance committees. Kaye also emphasizes the importance of building relationships with other directors and actively participating in board discussions.
To advance diversity on boards, Kaye suggests that search firms be held accountable for the diversity of the candidate pool and the final selection, and that sitting directors mentor and expose potential candidates to their boards. She also recommends considering term limits, increasing board size, and conducting ongoing board recruitment to create opportunities for fresh perspectives.
Kaye advises aspiring directors to excel in their day jobs, as this earns them the right to serve on a board, and that board service can, in turn, enhance their performance in their primary roles. She encourages them to explore wealth creation opportunities through private and pre-IPO boards and to continue their education in corporate governance through organizations like NACD.
