Veronica Biggins emphasizes the importance of being intellectually curious, understanding the business of business, and recognizing the distinction between management and board roles. Biggins advises against joining a board solely for financial gain, as it compromises independence. She notes that while specific domain knowledge is not always necessary, having a broad perspective and the ability to think strategically are crucial.
Biggins is optimistic about the future of black representation on corporate boards over the next five years, citing factors such as the influence of major investment firms like BlackRock and Ariel in advocating for diversity. She believes that the “colorblind” application processes implemented by some companies in the wake of COVID-19 could lead to more skills-based hiring. Biggins also highlights the role of advisory boards in grooming diverse
candidates for future board positions.
When asked about the best way to advocate for diversity in business, Biggins suggests that shareholders can make a significant impact by demanding changes. She emphasizes the importance of self-awareness, personal ethics, and a willingness to ask tough questions when considering board service. Biggins advises aspiring candidates to carefully evaluate the mission and culture of a company before accepting a board position, ensuring that it aligns with their values and adds value to their personal brand. She stresses that serving on a corporate board requires a significant time commitment and may involve sacrifices, so individuals should be prepared to dedicate the necessary effort to excel in the role.
