Board of Directors Members for Expanding Organization
ChallengeThe client is a manufacturer of sophisticated environmental controls serving fast-growing markets. The firm’s Board of Directors consists of the CEO and selected key investors. International expansion precipitated the need for two new board members who could bring with them the experience and wisdom of scaling businesses internationally and well beyond the firm’s current size.
ActionConsultants from our Cleantech and board practices met with each of the board members to discuss the company, its business context and growth plans. The consultants also probed into the skills and experience that would add to the current mix on the board. This experience included acquisitions, international expansion and joint ventures. Finally, the consultants probed into the current board dynamics including the personalities of the various board members and how they interact in making decisions. Considerable discussion was undertaken around the style of the individuals which would add positively to that dynamic.
From these discussions a profile of the ideal candidates agreed upon. Subsequently a position description including requisite experience and competencies was drafted and circulated for approval by the board.
StoneWood’s consultants then conducted a global search of the community of organizations representing the client’s industrial sector. They spoke to CEOs of firms with the specified profile as well as board members of other firms whose efforts had contributed to the growth of these companies. With the help of our international partners, a group of probable candidates was mapped and contacted.
StoneWood consultants provided the board with access to its online portal enabling the selection committee to track the search and candidates under consideration. The selection committee provided ongoing feedback and suggestions enhancing the overall efficiency of the search.