Equipping a board for maximum performance
At a critical stage in a company’s evolution, a recently staffed board – half its members were new – asked for our help in integrating the newcomers and enhancing the board’s contribution.
We conducted confidential interviews with the partners and the firm’s top executives. Our comprehensive analysis of their comments highlighted some critical issues. We then designed the board's first off-site meeting; with our guidance, the partners and executives worked through the issues.
Our involvement enabled the partners to function as a team quickly and to exploit their multiple perspectives and collective expertise. They provided crucial input to the new, inexperienced CEO on the recently diversified firm’s strategic priorities and on CEO performance expectations. And they established principles for how the board and senior management would govern the company, defining roles and responsibilities. The effort fulfilled NYSE board assessment requirements and laid the foundation for governance improvements.
