Recruiting Private Company Board Members
Whether you have an advisory board or a fiduciary board, adding independent members can provide a CEO with a broader view based on their varied and extensive experiences, help a company build credibility in the outside world, and help manage or prevent conflicts among shareholders. Independent board members also provide objectivity that is critical for closely held and family owned businesses.
We have assisted a number of our private company clients to identify independent board members who have been able to bring important growth ideas to businesses, including identifying attractive segment opportunities, helping create management accountability to achieve the business plan, and to create shareholder value by reducing risk.
We would be happy to support your efforts to create or add to your independent board in the same way we have regularly identified senior team operating executives for our advisory clients over 15 years at Corporate Fuel.
Some distinct advantages to an outside board:·
- Proper governance A formal board will help the majority owners provide oversight for all stakeholders, including employees.·
- Broaden company expertise As a company grows, there are other complex issues to evaluate, many of which require experience that is not resident in the organization, eg foreign corrupt practices, multi-country organization structure, tax and HR requirements, succession planning. Many outside directors contribute mightily through their network of contacts, in sharing their experiences, enhancing selling efforts, and fostering other partnerships and joint ventures.·
- Strategic guidance One of the most important roles of the board is providing tactical, operational and financial guidance, with an outside perspective, while the CEO is shepherding the day to day business.
- Building enterprise value The board is a valued partner to the CEO in his/her most important role – building enterprise value, assisting on longer term strategy to grow the business, both organically and through acquisition.
- Preserve the culture Most of our clients have been successful over many years. A board can be effective in helping to preserve the culture, heritage, legacy and core values of the company.
Please let us know how we might be helpful to you.
Vice President and Human Capital Practice Lead
More recent news
Strong M&A Market Despite Appearance of Some Economic Headwinds - Still a Good Time to Consider Selling a Business
M&A activity in North America continues at a robust pace this year with $849 billion of closed transactions for 4,754 deals in the first half of 2019. The post-recession trend of strategic and private equity sponsored activity continues at a strong pace for large and small deals alike, as shown in the chart below. If currently announced deals close this year, M&A activity will again cross the $2 trillion threshold in 2019 for the fifth consecutive year. While total dollar volume is skewed by a number of mega mergers, such as United Technologies $90 billion acquisition of Raytheon, the median size of all transactions over the past 5 years is less than $100 million, an important consideration for middle market companies as they assess M&A market conditions for their business.
A belated happy new year to you.
In 2018 we advised some forty companies on a variety of M&A and corporate finance projects. Among them were five important transactions...
EnergyWatch, LLC Announces New Private Equity Partner
Posted November 13, 2018
New York City based EnergyWatch, LLC ("EW") makes energy data management and monitoring easier by offering advanced analytics in a centralized platform enabling consolidated invoice management, budgeting and budget variance analysis, sustainability reporting, as well as portfolio comparisons and industry benchmarking.
Realizing Full Value
Corporate Fuel helps successful businesses address the challenges of growth.Read our case studies