The responsibility and composition of Boards has never been more acutely scrutinised, the result of which is greater individual member accountability and a focus upon having an increased level of diversity across the Board.
This evolution has led to clients needing a professional search process to identify Board members from a broader range of backgrounds. The Board Practice team members at Carmichael Fisher spend time to understand what is required, are able to challenge when necessary and have the capability to attract talent beyond the usual networks.
- The landscape - Over the last decade, Board composition has become more specialised and diverse. This is largely due to increased scrutiny and expectations from Corporate Governance, as well as shareholder or investor activism.
For the organisation, creating a more insightful, diverse and engaged Board that acts with integrity and independence will provide stable leadership both for the business of today and tomorrow.
- Non-Executive Director - The independent leadership bench now has a healthy balance of those with recent experience on executive leadership teams, combined with those who have rich experience of working on a number of Boards. Naturally this gives a fresh perspective, heightened vital specialist expertise and insight to modern business practices and challenges.
Whilst providing guidance on broad business topics, they will also be a representative on technical internal committees (such as risk, audit, or remuneration).
Personal commitment, both in time and accountability is greater than ever. Potential appointees need to be sure that each Board position they undertake will be intellectually stimulating, rewarding, a fit for them culturally, whilst ensuring that there is no conflict of interest with other organisations that they are involved with.
- Chair - A Chair must possess judgement gained from deep experience, closely aligned with the ability to adapt thinking to new challenges, and have absolute discretion. There are circumstances where a company appoints an Executive Chair who will also then be a member of the Executive Team. In this case they will have day-to-day business responsibilities outside of their advisory role.
- Directors - Directors are of course a critical component of an effective Board. At Carmichael Fisher, these appointments are conducted within the Sector Practices themselves.
- Our Board Practice team comprises some of the most senior consultants in their industries who possess a detailed understanding of what is required for success at board level.
- We work with a wide range of companies from SME’s to FTSE 250 and appreciate their need to maintain a blend of experiences, cultural perspectives, gender and in many cases, international skills.
- We listen hard to what our clients are looking for and combine that with our own insight and experience. It is this judgement and assessment that makes us effective in bringing together the blend of skills required in a successful Board.
- Our global network of senior leaders has enabled us to bring together talented Board leaders from alternative sectors, geographies, products and functions.
- Chairman at a Global Chemicals Company
- Non-Executive Director at a UK infrastructure company
- Non-Executive Director at a private equity backed Insurance company
- Non-Executive Directors (x2) for an International banking group
- Non-Executive Director at a UK challenger bank
- Strategic Advisor at an early stage UK FinTech