Print
Share
Download PDF
After working with the Board through a successful CEO succession process, the Board wanted to do an in-depth assessment with the goal of building a world-class Board. The former CEO did not have a strong relationship with the family owners and thus they focused on clearly defining roles and implementing sustainable processes to have a higher level of impact to become a high-performing Board.
Board & CEO Advisory Services Utilized
Leadership / Performance / Culture / Talent
Approach
Board Survey
- Conducted a customized Board survey to pinpoint the perspectives of the Board vs. Management across key areas of board effectiveness
Deep-Dive Interviews with Family & Advisors
- Based on the results of the survey, conducted in-depth interviews with each Board member and key stakeholders to assess current strengths, development areas and potential opportunities for improvement
External Benchmarking
- Benchmarked the Board’s structure and composition against a 5-company peer group to better understand current skill set and gaps
Co-Development of Sustainable Board Processes
- Worked with the Board to co-create a sustainable onboarding plan for new directors, a repeatable multi-year self-assessment process and to define the ongoing roles of the family and advisors that aligned with the long-term strategy
CEO Search & Selection (Prior work)
- External search for CEO led by the Board and family
Impact
Defined Board Advisor & Family Roles
- The Board took steps to clarify the strategy-focused purpose, duties, responsibilities, and expectation of the Board and clarifying roles & responsibilities of family Trustees
Onboarding & Assessment Process
- Established a multiyear feedback system that the company can continue to use, as well as an onboarding plan for new Board members
Board Effectiveness & Succession
- The Board aligned on actionable recommendations to become a high-performing Board, including a five-year succession plan aligned with a robust Board composition strategy