Key Search and Board Hiring

We understand the importance of having a solid and experienced board of directors. We advise on board hiring and can help to find the right candidates for board representative, regular board member, and chairman or chairwoman of the board roles.

Our team has the expertise to guide you through the board recruitment process, to find individuals who can add strategic and financial value to the management team and company. We help you to find the right individuals to represent your company’s best interests and ensure its success.

1. Board Representative

A board representative is typically appointed by a specific shareholder or group of shareholders to represent their interests on the board. They may or may not be a shareholder themselves, but they are selected to advocate for the shareholder's concerns and priorities. Often, their selection is part of the board hiring process, ensuring that shareholder perspectives are included in decision-making. While the board representative may have a distinct agenda compared to other board members—pushing for policies or decisions aligned with the interests of their appointing shareholder—they still have a fiduciary duty to act in the best interests of the company as a whole.

2. REGULAR BOARD MEMBER

A regular board member represents the interests of the company's shareholders and works collaboratively with other board members to oversee management, financial performance, and strategic direction. They are expected to act in the best interests of the company and its shareholders, providing guidance and oversight to the executive search management team. Regular board members are often chosen as part of the board hiring or selection process and are formally elected by other members of the board of directors, ensuring alignment with the company's governance needs and shareholder expectations.

3. Chairman / Chairwoman of the board

The role of a chairman/chairwoman of a board can vary depending on the organization, but in general, they are responsible for leading the board of directors in fulfilling its duties and responsibilities. This includes setting the agenda for board meetings, facilitating discussions, and ensuring effective decision-making. Additionally, they may play a key role in executive search processes, working closely with the board and stakeholders to identify, recruit, and onboard top executive talent that aligns with the organization's strategic objectives.

There are many reasons why you want to hire an independent board member:

Attract investors

Save time & money

Add strategic and financial value to the management team and company

Make the decision process efficient

Avoid typical pitfalls

Avoid bad things happening to good people

Attract investors
Save time & money
Add strategic and financial value to the management team and company
Make the decision process efficient
Avoid typical pitfalls
Avoid bad things happening to good people

Board leadership in times of crisis

Common Crises for start-ups:

Failed business model
Potential customers don’t want the product /solution
Problem with product/solution
Not able to pivot or pivoting too often
Not able to scale
Not able to evolve and change roles
Not able to execute
Lack of cash
Loss of a key player

Having a solid and experienced board that has not only seen fair weather and growth can be crucial especially during down turns and crisis management. During a crisis, an experienced board member may realize that their CEO is unable to navigate through rough waters. While making C-level changes in the midst of a crisis can be risky, it may be necessary to reorganize management responsibilities to support the CEO and strengthen the C-level team. However, if the Board determines that a CEO change is necessary, engaging in a CEO succession process soon is advisable, particularly if the crisis is expected to last for 2-3 years. A short-term bridging arrangement may be suitable for 3-4 months, but a long-term solution is required to address the situation. If hiring an external CEO during a crisis is too risky, the Board should consider an internal candidate who has demonstrated exceptional performance under pressure and earned the trust and support of their followers.

Board decisions in times of crisis

Scenario Planning

Given the high volatility and uncertainty of markets, especially for new and highly innovative companies, accurate forecasting becomes nearly impossible. To navigate these challenges, developing multiple financial scenarios is essential for strategic planning. During crises, companies often experience significant performance drops, making scenario planning a critical tool for stability.

In such situations, the Board should request the management team to prepare a range of financial scenarios to ensure comprehensive planning. These scenarios serve as benchmarks, allowing the CEO and Executive Committee to make informed daily decisions. To enhance this process, the Board should also focus on board hiring by onboarding experienced members who bring expertise in financial oversight and strategic navigation during turbulent times. These seasoned professionals can provide regular reality checks, ensuring alignment with the company’s long-term goals while helping steer through challenges effectively.

Interested in Board Hiring?