Lloyd Trotter worked his way up from the shop floor to an executive position at GE. He was first approached to join corporate boards while still at GE, but could not due to company rules. In his last year at GE when he was planning to retire, he joined the boards of Daimler, PepsiCo and Textron after being directly contacted by their CEOs. He did not come on boards through search firms.
Trotter believes functional expertise is more important than direct industry experience when seeking a first board position. At GE, he contributed his operations knowledge. On boards, he aimed to represent diversity while also weighing in on business issues like productivity and strategy. Trotter was authentic in the
boardroom, leaning on his GE experience being direct. He identified board members to collaborate with over coffee or drinks. Without playing golf, he still built relationships through networking.
Trotter sees steady but not accelerating growth in African American board representation. He wants search firms to be more proactive in putting forth diverse candidates. Sitting minority directors should actively advocate for and mentor minority candidates. Asset managers like BlackRock should examine their owned company boards. Trotter supports board term limits to increase turnover. He believes business needs a push on diversity – currently diversity statistics lump all minorities together, obscuring low Black representation. Aspiring minority directors must pursue every opportunity for exposure with influential leaders and tailor resumes specifically for boards, not jobs. Those who make boards should then help others advance.
