Steps CFOs take to get appointed to corporate boards
Start networking now and prepare for a major time commitment later, say recruiters who help CFOs gain consideration.
The CFO Dive article, "Steps CFOs take to get appointed to corporate boards," quoted Russell Reynolds Associates Consultant Jenna Fisher on the importance of communicating a desire to be on a board. The article is excerpted below.
Imagine investing some of your time in an endeavor that could boost your status as a financial and strategic leader and provide substantial income well past the traditional retirement age of 65.
Sound too good to be true? It probably is.
For even the most cut-above-the-rest CFOs, a prized seat on a corporate board — which can mean a significant boost in added income — is a dream often destined to be unfulfilled.
The supply of candidates far exceeds demand.
With little turnover, in any given year, there are thousands of executives in hopes of just hundreds of openings on boards of public companies.
Getting the word out
Preparation to put yourself on the road to a lucrative seat on a board not only requires networking, it also necessitates letting your CEO and board know of your ambition.
Jenna Fisher, who has successfully completed more than 300 CFO and board searches for Russell Reynolds Associates' corporate officers sector, recommended waiting at least a year into your job to let your board and CEO know to give you sea legs.
She said the right time to bring up your desire is when your chief asks you what your goals are going forward.
To read the full article, click here.