Wednesday, March 10, 2010

 

Top Ten Questions

What are the top ten types of question women ask about boards of directors? Recent discussions with women who are taking the big step of getting information and education about what they need to know to get onto a corporate board reveal how much women need to learn about governance. At least they are asking good questions! What are the top ten concerns on their mind? Take a look:

1. What are the roles and responsibilities of a board member? Committees? Duties? Time requirements?

2. What qualifications, credentials and preparation are required for a public company board role?

3. How do you define, how do you become an effective board member?

4. What are the risks (and the rewards) faced by board members today?

5. How do boards select new directors? Skills matrices? Nominating criteria? Selection processes?

6. How does one position herself, in her career, for a board role? Where are possible board opportunities?

7. How do networking, connections and introductions work in board searches, if at all?

8. What due diligence considerations are there in finding and evaluating a possible board role?

9. How much finance and accounting should I know? Where can I learn more?

10. Questions about specific issues: Sarbanes-Oxley, performance evaluations, director training, director compensation, confidentiality, nonprofit experience?

The lesson from these questions is that women are asking "basic" questions -- suggesting that we need to begin delivering comprehensive, but fundamental information to women candidates if we want to improve the number of prepared women ready to serve on top corporate boards.

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