“Spencer Stuart, the search firm, has identified five “intrinsic capabilities” required of a non-executive director in an effort to widen the pool of potential candidates, writes Peter Whitehead.
They are: intellectual approach, independent-mindedness, integrity, interpersonal sills, and inclination to engage. The firm tests for these attributes using interviews. In its Point of View report for 2013, the firm also lists “10 questions prospective directors should ask themselves before accepting an invitation to join a board”. These are:
1. What do I have to offer?
2. How will I find the right board? (Be patient: it can take time.)
3. How much due diligence should I do? (It should be rigorous. Talk to experts, read the minutes etc.)
4. Do I have the time? (Ask for meeting dates for the next three years.)
5. Can I contribute? (Work out where you can deliver unique and differentiated value.)
6. Will I learn? (Be intellectually curious and open-minded.)
7. Will it be fun?
8. What is the time commitment? (One of the pitfalls is underestimating the time required.)
9. Is my employer fully supportive? (Tell your chief executive what you have learned and how it benefits the company.)
10. Should I expect a board induction? (You should expect to go through an induction process.)” source ft.com