Any ideas/solutions to finding the right chairman of the board?

February 20, 2023

by a searcher in Johannesburg, South Africa

I am assembling a board of directors, and have already interviewed a variety of candidates via LinkedIn connections... However, I have not found any luck finding the right chairman with no conflict of interest and experience in orchestrating M&A teams, specifically in my industry. What other methods/ideas/solutions can I try besides LinkedIn to find the right guy? Thanks in advance.

0 Likes

7 Replies

77 Views

Replies

Reply by an investor
from Harvard University in Madrid, Spain

This would be the characteristics:

1. Leadership: A good chairman should be a strong leader who is able to inspire, motivate, and guide the company towards achieving its goals. 2. Strategic thinking: A good chairman should be able to think strategically and plan for the long-term success of the company. They should be able to assess risks and opportunities, and make informed decisions to benefit the company. 3. Communication: A good chairman should be an effective communicator who can convey complex ideas in a clear and concise manner. They should be able to listen to and understand the concerns of stakeholders, and respond appropriately. 4. Experience: A good chairman should have relevant industry experience and a deep understanding of the business environment in which the company operates. This helps them provide guidance and advice to the management team. 5. Integrity: A good chairman should have high ethical standards and act with integrity at all times. They should be transparent in their dealings and work to maintain the trust and confidence of stakeholders. 6. Independence: A good chairman should be independent and able to provide objective oversight of the company's activities. They should be able to challenge the management team when necessary and ensure that the interests of shareholders are protected. 7. Collaborative: A good chairman should be able to work collaboratively with the management team and other board members to ensure the company is successful. They should be able to build strong relationships and foster a positive culture within the company.

Plus the most obvious, but many times, disregarded: TIME, he should be able to devote time to the company. Some directors are too busy.

Reply by an investor
from New York University in New York, NY, USA

Thanks for the tag ^redacted‌. Hi Diego - where to look is going to depend upon what you are looking for. I would focus on defining that first. You mentioned you want M&A experience, and specifically in your specific industry. Depending upon how big the company is, where it is located and what sector you are in, that might be a tall order to find both traits in 1 person. You should think about what support management needs in various disciplines, and make sure the board as a whole can provide this. ^redacted‌ mentioned a lot of important traits, most of which are qualitative in nature. I would suggest you pursue someone who has the right qualitative traits plus 1 specific expertise (M&A, industry, etc.) rather than trying to find everything in just the chairman.

+5 more replies.

Join the discussion