SpencerStuart
June 2024
Service on a corporate board is a professional aspiration for many successful executives today. Adding value to another organization, learning from other professionals and stretching in new directions are generally cited as primary reasons for interest in corporate board service.
But opportunities to serve on corporate boards are limited, and the process varies by board. This guide is designed for both experienced and first-time candidates for corporate directorships, to help them best prepare for a board opportunity and determine if there is a mutual strong fit.
At a glance
Just over half of S&P 500 and S&P MidCap 400 boards add one or more directors in any given year. The reality: Opportunities for board service are limited.
A range of qualities determine culture fit: interpersonal skills; a collaborative nature; an understanding of directors’ roles versus management’s; and the ability to contribute to the many elements of a board’s oversight.
Like any job opportunity, thorough preparation and due diligence is critical for a board interview – whether you are an experienced or first-time director.
The board interview process is a two-way street. Just as boards are assessing candidates for fit, candidates should also be evaluating whether they think the opportunity is a strong match for them.
Read the full report below.
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