Executive Search for Board Services

The board services sector offers listing, underwriting and research services to companies listed on international stock exchanges. It comprises both state-owned and private companies, taking into account its specific regulations.

Board Services

Executive search companies should aid boards to strike the ideal balance between offering strategic leadership and ensuring effective supervision.

Executive search companies can provide external assistance to board services to support a successful transition within the company.

 

Some common scenarios where boards reach out for our support as a headhunting and consultant company are:

 

  • Supporting both experienced and new board members in making strategic contributions as well as achieving the right KPIs.
  • Evaluating the knowledge, abilities, and traits needed by a board based on its long-term business strategy, as well as finding any knowledge gaps.
  • Identifying and recruiting independent non-executive chairs and directors, whether for individual positions or entire boards of directors.
  • Providing guidance on issues that include restructuring processes, dispute resolution, succession planning, board structure, and best practices in governance.

     

Nowadays, the world is a scene of countless mergers, acquisitions, and diverse changes that have a direct impact on business. Companies and boards of directors are being forced to continuously adapt and make important decisions on a daily basis. This becomes notably challenging when non-native business leaders encounter cultural differences in the communication processes. This is an additional aspect that headhunting firms should consider when searching for an executive.

Case Study

Diagnosis of situation: The Chief Executive Officer of a large medical device company was set to retire in 2-3 years. The company wanted to create a plan for his succession when the time came. Internally they had 6 potential candidates and they felt 3 were the best fit for the position.

 

The company needs to consider several points about the internal candidates to know who to choose, how they can develop in the role of a person or if they need a contingency plan to look for an external replacement.

 

Implementation: Executive leadership case development plans are created to identify the best candidates taking into consideration their soft and hard skills that will need to be developed through a one-year program to successfully fit the role.

 

Strategy:  After the diagnostic was approached and candidates were analyzed through a 360* survey as well as a psychometric test within the leadership development plan, the outcome indicated that candidates were not ready to take on the role. However, it also showed that there was time to develop the necessary soft and hard skills.

 

Results: After the development plan, the brand executive officer considered that the information provided was adequate to present it to the board of directors to help them decide.  After the presentation to the board, with clear information and sufficient evidence, they would be able to make a clear decision and approve the succession plan for the candidate.