In this article in Business Week, Beverly Behan looks at the the value of board assignments for CEO’s and CEO’s in training through an interview with Arrow Electronics Chairman Bill Mitchell.
We are passionate about assisting what we call “transition” candidates from the Executive world to the Non-Executive world. Beverly Behan in her Bloomberg Businessweek article on “Getting Your Successor on a Board” is right on point. I can think of a number of occasions where we have advised Chief Executives to think about their succession and in doing so, get some of their senior Exco members to take on at least one Non-Executive role outside of that particular company. This is an excellent way of getting essential NED experience that will not only help them in the future in a portfolio career, but more importantly and perhaps more relevant, give them an experience about how Boards operate and what they should expect from Non-Execs and what Non-Execs will expect from them.
This is certainly something that should be happening more in the insurance and consumer financial services sectors.
You can read the full article by clicking here.