The 29 board of director questions—a must-read for CEOs targeting board seats (includes a checklist)

Published: Sun, 08/01/21

The COVID-19 global pandemic is one of the few dozen risks identified in a survey published by the World Economic Forum in January of 2021.

The World Economic Forum report claims “The global economy has now sunk to its deepest crisis in peacetime. World output is expected to have shrunk by 4.4% in 2020. In comparison, the 2008—2009 Financial Crisis caused the world to contract by 0.1%.”

Boards will require expertise that didn’t traditionally exist.

With the growing number and types of crises that are plaguing organizations, boards need expertise to help mitigate new risks. You may have that expertise to help a board either as a fiduciary board member or as a board advisor. In this way, it will be important to clearly articulate your value proposition to the organization.

Your value proposition as a board member needs to answer the question: “What will you do as a board member to help us manage risk?” The answer must address the motivations of the board.

We have created a list of 29 questions that will help you prepare an effective value proposition as well as build confidence for landing you the BOD role.

Here are a handful:

Can you read and interpret a balance sheet?
Have you led an IPO?
What CEO’s have you mentored?
What boards do you currently serve? Is it a fiduciary board role or an advisory board role?
Do you have sound knowledge of governance issues facing the board? If so, can you give some context?

Review the full blog and download the 29-question checklist here.

Here in Nova Scotia, CANADA we are headed into hurricane season! The two strongest hurricanes that Canada has seen on record were located in Nova Scotia. In fact, the Canadian Hurricane Centre is forecasting an above-normal number of Atlantic hurricanes for 2021. Below is a photo from 2003 of Hurricane Juan. My book club friends (The Pictou Chicks) were staying in Margaretsville—a beautiful community located on the Bay of Fundy. We could feel the cottage sway in the fierce winds prompting us to move to the lower level of the structure.

While the arrival of hurricanes in our province brings some angst and concern, the arrival of celebrities we see on a recurring basis balances the emotions! We’ve had the honor of hosting Viola Davis, Kenan Thompson, Ethan Hawke, Jack White, Ben Affleck, Elliot Page (born and raised in NS), Alan Arkin, and more.

I hope you and your family have a great week ahead!

Respectfully,

Maureen Farmer

https://westgatecareercoaching.com/

Learn about the Career Navigator Program.

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About Maureen:

Maureen is a global executive career coach and personal branding strategist for next-level executives and board nominees.

Westgate Executive Branding and Career Consulting Inc. would like to acknowledge that we are located in Mi'kma'ki, the ancestral and unceded territory of the Mi'kmaq People. We are all Treaty people.