Board Advisory Services
The expectations placed on boards by shareholders, regulators, the capital markets and other stakeholders have never been greater. In response, boards have placed increased emphasis on the governance process, including the selection of the board and the CEO. Russell Reynolds Associates board advisory experts provide CEOs, boards and nominating committees with objective assessment and counsel regarding critical governance procedures.
Many of the boundaries and categories that defined business for much of the last century are dissolving. Globalization means that supply chains and markets easily transcend national borders. Both consumers and businesses are increasingly sophisticated and demanding in their expectations, undermining traditional market segmentation. New industries are being formed, bringing new opportunities and challenges to established enterprises.
Making the board a true strategic asset to management
Our board advisory consultants work with nominating committees to help them understand how these changes affect the range of competencies, experiences and perspectives needed around their boardroom table so that the board can serve as a true strategic asset to management. Drawing on four decades of working with CEOs and boards, we help boards identify the range of qualities they need in their board members and then compare that benchmark against the current board.
Optimizing the nomination process
This analysis informs director searches, giving the nominating committee a framework to use in evaluating director candidates. Our consultants can then tailor the search process to find directors with the needed qualities, drawing upon a global network that reaches far beyond the “usual suspects” to identify board members with unusual—and strategically valuable—combinations of experiences and perspectives.
Guiding boards in their ultimate responsibility
Our senior consultants work with boards across all industries to ensure that their CEO succession plans are complete, conform to best practices and are tailored to the strategic needs of the company. Central to this process is identifying the competencies to be sought in the next CEO, measured against the challenges and opportunities forecast over the next five years. The internal pipeline of candidates is evaluated and benchmarked against those requirements, and the need for an external search evaluated.
Ensuring a smooth transition
When the time comes to execute a succession plan, our consultants work closely with the board to evaluate finalist candidates, using a range of tools measuring leadership style, fit to the culture of the organization and benchmarking against other industry leaders. Once a choice has been made, we work with the incoming and outgoing CEO to ensure that a smooth transition is in place so that the new leader has built relationships with, and has the support of, the board, shareholders, employees and other stakeholders.