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AICD Presentation by our Client Partner, René Johnson

April 15, 2008

OPPEUS Client partner, Mr René Johnson, recently presented two topics at the AICD function ‘Finding Board Positions’. 

The first topic presented was titled “The role of the Executive Search Firm”.

This topic related to the following six major requirements for a search firm to provide an effective service to clients:

1. Maintain constant interaction (and networking) with clients and industry contacts
2. Utilise networking and industry contacts to ensure your information is current and adds value
3. Remain in touch with current events and continually refresh industry knowledge
4. Be independent and objective
5. Draw from a deeper pool of talent than boards have previously used
6. Recommend the philosophy of “Best talent, best fit”

Increasingly, search firms are conducting more non-executive director searches, based on specific briefs from the client. In line with that, company boards are increasingly focused on ‘good governance’ with the result that search firms are being retained more and more to provide an objective and independent service.

The second topic presented was titled “What do boards look for when recruiting”.

This topic focussed on the overwhelming factor that Boards are looking for executives who understand the difference between being a member of a Board and being a member of an executive team.  Boards are looking for fellow directors who bring new ideas, new energy, diversity, gender difference, cultural insights, proven technical skills and highly developed commercial acumen to the table.

René specified eight questions a board should be asking of itself:

1. Do we have the knowledge and competencies we need?
2. Does our board measure up to future strategy?
3. Are our competitors better equipped?
4. Do we need more independent (non-executive) directors?
5. Does our board deliver?
6. Is each board member contributing their best?
7. Are we in line with international corporate governance standards?
8. Do we work well together as a team?

René also spoke about the following five critical factors often seen in high performance Boards: 

1. Composition - for balance
2. Capability - Skill and experience
3. Behaviours - Attributes
4. Relationships - Networks
5. Diversity - for balance and leadership

René summarized that a Board should be looking for a Director who can:

1. Add value to the existing Board
2. Act independently
3. Ask the right questions
4. Has fine judgment & wisdom

 

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