Strategy
Foundations of a forwardlooking
board
Board chairmen and fellow directors will
quickly grasp the point by studying the
exhibit. The light-purple part of the
annual schedule depicts how a board
preoccupied with its fiduciary
responsibilities typically spends its time.
The dark-purple agenda items, by contrast,
show what the calendar focus of a
predominantly forward-looking board
might look like. It’s impossible to effect
this change without a solid foundation:
the right directors, knowledgeable
about their roles and able to commit
sufficient time.
Roll back the future to access top
board members
Too often, vacancies on a board are filled
under pressure, without an explicit
review of its overall composition. An
incoming chairman should try to imagine
what his or her board might look like,
ideally, three years from now. What kinds
of skills and experience not currently in
place will help fulfill the company’s longterm
strategy? What, in other words, is
the winning team? A willingness to look
ahead expands the number of candidates
with appropriate skills and heightens
the likelihood that they will sign up if
and when they become available.
One of the world’s leading food
companies used this approach to
introduce a range of expertise clearly
reflecting its strategic direction and
requirements. Of course, its board has
high-profile (former) executives and top
professionals with a profound finance,