By Emma Ford
Dr. Sabine Dembkowski is an international board advisor, and as such her interview with NEDonBoard is well worth a read to find out about preparing for a new board role and what sets apart a well-functioning board from one not so well-functioning. (For more about Dr Sabine please scroll to the end of this article.)
What should non-executives do to be correctly prepared for a new board role?
Being an NED appears to be highly desirable. However, NEDs should not just grab the first opportunity that comes along but conduct in-depth research and ask themselves some tough questions:
Conduct in-depth research about the company
Over and over we see that candidates are so excited to have the opportunity to serve as a NED that they forget to do vital research. What is the real situation of the company? What is the financial situation? Are there any law suits hanging over the organisation like a damaclus sword? What are the real challenges?
Ask yourself: Do I fit in/to this organisation?
Research indicates that executives in any role in an organisation flourish if their personal value system is a good fit to the values of the organisation. Do not be mistaken here, this also applies
Read more here:: Some advice for your new NED role and a well-functioning board: Dr Sabine Dembkowski
By Emma Ford
There’s no one-way to become a non-executive director, so asking experienced non-executive directors ‘how did you become a NED?’ can provide a blueprint for your journey to being a non-executive director.
As such, NEDonBoard interviewed Lucy Armstrong. Amongst other things Lucy is chair of an angel investment network and non-executive director of a national qualification business. She was chair of the CBI’s national Small Business Forum from 2010-2013 and deputy chair of Northumbria University until 2012.
1) How did you first become a non-executive director and how does this differ to how you now become involved with a new board?
My early career with 3i plc and Courtaulds Textiles plc was both rewarding and demanding. I worked on strategic development and change management in the businesses, which involved extensive travel and commitment. I did feel it was important to be involved in the community in which I lived and so I went on the Common Purpose programme with people in the public, private and not-for-profit sectors. Learning about how society works and key institutions operate inspired me to get involved. I became a member of HMP Frankland Independent Monitoring Board. This ‘watchdog’ body reports to the
Read more here:: How did you become a NED: Interview with Lucy Armstrong
By Emma Ford
Insight from an experienced NED and Chairman, Marcus Killick OBE, this interview delves into some aspects of expected homework before applying for, and preparing for, a NED role and is well worth a read for anyone currently on the look-out to take on a new NED role.
Marcus is non-executive Chairman of the Gibraltar Stock Exchange (GSX) and also a non-executive director of a number of other companies, including a bank, a magazine publisher, an insurance company and an insurance broker. Prior to these roles he served as the CEO of the Gibraltar Financial Services Commission for almost eleven years.
1) What homework is vital for all new NEDs to do BEFORE applying for, and then when accepting and PREPARING for, their first role?
Before applying, you should ask yourself do you actually want this NED role? It is difficult to overestimate the need to research the organisation to when you are considering applying. Websites, news features and annual reports, as well as the role profile itself will be essential in this. You only have one reputation, built over many years. A bad choice could be the end to your NED career.
Does the role fit your risk appetite? If the
Read more here:: Homework before applying for, and preparing for, NED roles: interview with a chairman