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

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 interests and concerns. The board representative may have a different agenda from the regular board members and may push for specific policies or decisions that are in the best interest of the shareholder or group they represent. However, the board representative still has 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 work collaboratively with other board members to oversee the company's management, financial performance, and strategic direction. They are expected to act in the best interests of the company and its shareholders and provide guidance and oversight to the executive management team. They are elected by other board of directors.

3. Chairman / Chairwoman of the board

The role of a chairman / chairwoman of a board can vary depending on the organization, but in general, the chairman / chairwoman is responsible for leading the board of directors in fulfilling its duties and responsibilities.

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, it is impossible to accurately forecast especially for new and highly innovative companies. Therefore, developing multiple scenarios is recommended to assist with strategic planning. During a crisis, companies may experience significant drops in performance. In light of this, the Board should request the management team to prepare various financial scenarios that enable proper strategic planning. By monitoring the company’s progress relative to these scenarios, the CEO and Executive Committee can use them as a reliable reference to make crucial daily decisions an experienced Board Member will help navigate through those tough times with regular reality checks.

Interested in Board Hiring?