The role of the board has never been more challenging. The interaction between the executive and non-executive has always been crucial, but a combination of commercial, legal and structural changes have all put a particular spotlight on the role of the non-executive director (NED). It is no longer enough simply to have stature and experience – that of course is essential – but it is now vital to have a wide range of cultural and specialist skills of considerable complexity. Never has such responsibility rested in the hands of non-full time specialists and nor have so many expectations.
It is not enough simply to know how to find the available pool of talent. Lists can do nothing to identify the cultural and commercial nuances essential to make a good NED appointment. There are a host of considerations such as genuine diversity in all its different forms to take in to account. Furthermore, the demands of listed public company boards require many different skills compared to private companies.
We are instinctively comfortable and experienced in all these key facets. Our sector teams know their markets and the demands driving their boards. Our NED specialists are skilled and experienced in knowing those NEDs already on boards, but crucially have identified the up and coming talent in both the private and public sectors. Ensuring that the right person is selected and presented is a specialist skill where we excel.
Whilst quality is implicit in all we do, getting an NED appointment demands particular due diligence. Reputational integrity is for example crucial, as are the specialist skills required for the Chair, senior independent director and head of the audit remuneration committees. Nothing can be left to chance and we would never so do. We understand that a robust and flexible board is axiomatic to success.