Board Search Case Study
Independent Board Director
Our client had been looking to identify an independent addition to their Board of Directors for nearly 9 months, interviewing multiple candidates but not finding what they were looking for.
Our client retained us to find a high caliber executive to join their Board, articulating 7 key criteria they hoped to see in the individual. These included past or present entrepreneurship, successful operating experience as a CEO, prior company exits, and governance experience, among others.
We began by kicking the search off in person at our client’s office, meeting with the CEO, President and SVP of Sales to gain perspective and outline the search criteria. We then went through an exhaustive research cycle, which lasted two weeks, at the end of which we presented a matrixed, top-graded list of 20 executives who fit most or all of the outlined criteria.
On our first search call with our client, we reviewed the list, and collaboratively agreed on a target list of 10 candidates to engage. Over the next several weeks, we systematically engaged each of the 10 candidates, and conducted additional screening for fit. Our client ultimately chose to interview 5 of the 10, narrowing the search down to two finalists within 8 weeks of commencing the search. The project kicked off at the beginning of May, and the hired candidate was in attendance at the August Board meeting, finishing just under our prescribed 12 week process.
The new Independent Board Director immediately was able to add value, and within 6 months, had taken on an expanded role, becoming Executive Chairman of the Board.