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Joining a company board isn’t always the dream gig it once was

 


Quartz | March 27, 2019


The Quartz article, "Joining a company board isn’t always the dream gig it once was," quoted Russell Reynolds Associates Consultant Constantine Alexandrakis on how becoming a board member is still desired by many despite the challenges of the role. The article is excerpted below.

Wells Fargo’s brass knew things might get ugly at the company’s 2017 annual shareholders meeting.

It would be the frst public appearance by the board of directors since Wells became embroiled in a nasty phony-accounts scandal, in which thousands of its employees opened millions of fake accounts in customers’ names to meet sales goals or avoid the wrath of managers. It was a cultural breakdown of epic proportions, one that had already forced out former Chairman and CEO John Stumpf and several key lieutenants.

...

A prestigious job

None of that has made the position any less desired. “We get hundreds, sometimes thousands, of people every month letting us know they want to be on a board,” says Constantine Alexandrakis, part of the board and CEO advisory group at recruiter Russell Reynolds Associates.

...

But for all that, being a director in today’s environment isn’t what a lot of people expect, and is more than some people can handle. “The pressures and time commitments have increased,” Alexandrakis says. “The whole public nature of the role—especially when things go wrong—has increased.”

To read the full article, click here.





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Joining a company board isn’t always the dream gig it once was