Nonprofit Boards Offer Career Boosts for Executives
Directorships help strengthen leadership skills and connections with high-powered players
Joann S. Lublin
The Wall Street Journal article, “Nonprofit Boards Offer Career Boosts for Executives,” quoted Russell Reynolds Associates' Gary Hayes about why more executives are looking to serve on nonprofit boards. The article is excerpted below.
Executives are doing good for others—and good for their careers—by joining boards of nonprofit organizations.
Consider Fred Strobel. In 2012, the Morgan Stanley executive became a director at Tuesday’s Children, created to aid youngsters who lost a parent during 9/11 terrorist attacks. John Cahalane, a Tradeweb Markets LLC executive on the charity’s board, wooed Mr. Strobel to accept a top post at the trading platform operator last year.
One-fourth of nonprofit board members took seats to advance professional or personal interests, concluded a recent survey of 2,302 directors at 84 major U.S. nonprofits by recruiters Russell Reynolds Associates Inc. Most of those polled were corporate executives.
More executives are looking to serve on nonprofit boards because “they operate in an increasingly competitive and networked world,” says Gary Hayes, a leadership and succession specialist at the search firm. The experience “builds our networking further,” he adds.
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