Board Composition and Evaluation
The demands on boards have never been greater. Russell Reynolds Associates works with boards, board chairs and nominating committees to help them build and sustain boards with the competencies and qualities needed in today’s complex business environment.
Expectations that Only Increase
Over the last twenty years, the bar for board performance has been continually raised. Two broad factors have been responsible. First and most obvious is a heightened appreciation of the benefits of good governance in terms of oversight, compliance and risk mitigation. Second, the globalization of business and the erosion of traditional industry silos are causing boards to seek a broader range of perspectives and experiences to help them provide the best possible counsel to the CEO. Director recruitment is central to both these requirements.
Maintaining a board as a fully strategic asset, however, is an ongoing matter. A thorough director onboarding process provides the foundation for director performance. A rigorous director evaluation program ensures a common boardroom culture and set of standards.
An Integrated Solution
To help boards achieve their maximum level of performance, Russell Reynolds Associates provides the following:
- Evaluation of current board composition in light of the strategic direction of the company, the needs of the CEO and senior management, best practices in corporate governance and the board’s succession planning
- Identifying, evaluating and recruiting board members with the particular set of competencies and attributes needed by the board, drawing upon a proprietary multidimensional model of director experiences and perspectives
- The evaluation and/or development of the board’s onboarding program
- The evaluation and/or development of the board’s director evaluation program, as well as conducting assessments periodically to provide an objective third-party perspective.