You are a CEO. Competition is tough and you need all the advice you can get. Board of directors is there to help. Your board demographics is the usual; member average age is 60, in average they have been in this board for 7 years and 90% of them are male. What do you do?
You propose changes on the board composition. You know that based on several studies board characteristics (like gender diversity) have clear impact on company performance and you don’t want to give your competitors any extra competitive advantage.
To find new members you have the “who-do-we-know” discussion in board room. But 60 year old males tend to know other 60 year old males. Not a good way to increase diversity.
There must be other ways you think. Instead of paying thousands to head-hunters, one can always use LinkedIn for free. Everyone is there, but there’s no way of knowing who would be interested and available for new board positions.
Not for long. Boardio will be an alternative to “who-do-we-know” discussion by providing companies with access to board candidates with different backgrounds – both experienced board professionals but also less-experienced young executives that are valued for the fresh perspective and energy.
Based on our experience on Abonnet we know that there’s a need for this kind of service.
James Citrin has also noticed the need;
The irony is that while much has been written about the legitimate difficulties of companies finding qualified and interested directors for their boards, there are a growing number of prospective directors who would be all too happy to serve.
And Aaron Hurst;
Odds are that the leadership of the perfect board for you doesn’t know that you exist and if they do they don’t know that you would be interested.
Nice, but honestly speaking we are more interested on your views as we hope you’ll start using Boardio. Are we on a right track? Are we solving a real problem? Have we missed something?
Please, let us hear your thoughts. Thanks!
(Please go to Boardio LinkedIn group to comment.)