We help clients identify and appoint Independent Directors who fit to the organizational and business contexts of our clients’ firms. This helps ensure that an organisation's Board is composed of an appropriate balance of non-executive directors in terms of skills, experience and representation, as well as having an awareness and interest in governance issues.
The search for Independent Directors can differ quite extensively from that for senior executives. Our Context Driven Board Search process uncovers what gaps exist in the skills, experience and political or commercial positioning of the current Board. It looks at particular requirements for specialist skills, as well as the potential need to match existing management strengths. Candidates are identified based not only their own skills and suitability but also on the requirements and objectives of the client.
Candidates should be able to create distinctive value through their ability to handle the scale, complexity, importance and commercial risks that the company's operations entail and make a real contribution to Board discussions. Using this process and working in partnership with our clients, Amrop's senior practice executives help ensure that the Board is composed of the necessary strategic and technical skills to guide the organization. We have successfully helped to develop and appoint Board members across the entire spectrum of industries, all around the world. Amrop works with existing Boards as well as helping start-up organizations set up suitable Boards of Directors that are both appropriate to the aims and core business of the company as well as being compliant with Governance rules and regulations. In many cases, Amrop has also been tasked with the identification of the ideal candidate to Chair the Board with extremely successful outcomes. Working with a key Governance expert, Amrop can also offer a review process to ensuring that our clients' Boards meet the expectations of new Governance regulations.
The search for board members differs from more traditional executive searches in several ways, including:
1. Understanding the organization
While it is important to understand the organization’s business - products, services, size and market place position - it is also critical that the Board Search partner be familiar with the manner in which that business is carried out, the style and culture of the Board and how the directors and the management interact.
This differs as much between organizations as it does between countries, as does the division of responsibilities between chairpersons and chief executives. This may also change over time, as a Board develops its understanding of its role.
2. Understanding the balance of skills and experience required
The specifications for the appointment of a Director are usually more loosely drawn than those for a senior executive, with a greater focus on personal and cultural attributes. Identification of potential new Board members requires an understanding of the make-up of the present Board, the programme for Director renewal and the recognition of any important gaps, such as a lack of finance skills or past experience as a Chief Executive. In our experience, specifications are far more subtle than simply defining direct company or industry experience. They include the candidate’s ability to bring good judgment, courage and an open mind to Board deliberations, requiring the Executive Search partner to take a different approach to research for the position.
3. Developing a target list
In contrast with executive searches, potential candidates are usually unaware that they are under consideration for a Board position until late in an assignment. In addition, for reasons of regulation and disclosure, the organisation itself must often remain unidentified during the process of research and the initial approach made to candidates. We work closely with the client with a long list of potential targets about whom a great deal or, sometimes, relatively little may be known. Every Amrop partner brings both their vast experience and their creativity and objectivity to the task of refining this list. The client then considers a range of candidates who broadly meet the requirements and who will bring some diversity and real independence of thought to the Board table.
4. Closing the offer
Once a target list has been prioritized and comprehensive information on each target is prepared, we bring the two parties together as quickly as possible. If a target is better known to one of the Directors, the organization undertakes this step. In any case, a discussion follows to ensure that both sides are aware of the other’s expectations. We have found that for Chairs or Nominating Committees, it is as much about attracting the right people as it is ensuring that the Board is comfortable with the candidate. In many cases Amrop is involved with the due diligence process and with the formal induction of the new Director too. In many countries, we also provide ongoing advice to Boards as they evaluate their contribution and that of new Directors and consider plans for Director renewal in the future.
Effective Corporate Governance Guarantees Your Company's Success
A qualified and active supervisory or advisory board may dramatically improve a company's business success.
In several countries, we have developed a practice which concentrates its competency and experience exclusively on these supervisory bodies. It offers the following services:
Turkish and global searches for Independent Directors, Board Committee Chairmen and Chairmen of the Board
Structuring and staffing supervisory boards and advisory boards
Internationalizing existing supervisory boards and advisory boards
Advising family owned businesses on structuring and staffing supervisory bodies with independent members