How Can I Prepare To Join And Serve On A Board Of Directors?
PUTTING DIVERSITY CONSIDERATIONS ASIDE (CORPORATE BOARDS ARE UNDER INCREASING PRESSURE), the bar and demands for joining a board of directors have never been higher. This dynamic places emphasis on the director’s ability to provide added value and expertise. In the spirit of reverse engineering, it is important to build board-relevant experience with a view of leveraging your perceived value add (e.g., scientific/clinical, commercial/business development, finance/strategy, etc.) to help fill an identified board need to optimally support an organization across the operational and strategic spectrum. I would also encourage being mindful of ways to continue broadening your knowledge, particularly on the business side, to enable building strategic chops while not being afraid to ask the stupid question, particularly in areas where you are out of your depth. Lastly, be careful what you wish for!
ALLAN SHAW is an independent board member, CalciMedica, consulting CFO, and special advisor.