Board Interview Questions

Ask Incumbent Directors:

Describe the changes, trends, and challenges in your industry.

Who do you consider to be your major competitors, now and in the future? What are your advantages/disadvantages?

What values guide the company?

Who are your customers? Describe them.

What are your growth plans?

Tell me about how you are transforming your business/infrastructure/strategy? M&A Strategy?

What are the primary issues the board will face over the next 3-5 years?

Describe the board for me (i.e., culture, working style).

How many formal and informal meetings do you have in a fiscal year?

How do you decide board topics?

Describe a typical board meeting for your company…committee meetings, board dinners, meeting, executive session?

All great boards develop a CEO succession plan, but what is your board succession plan?

How do you anticipate the board composition will change over time?

What do you expect from a board director?

How does the board interact with management? In board meetings and out of board meetings?

What perspective and experience do you believe I can offer to the board? What other skills and backgrounds do you seek for the board?

What criteria are you using to evaluate potential board directors and what is your timeframe for a decision?

Can I meet all the board members?

 

Ask Recruiter to Provide:

1. Company Overview

2. Profile of Director Candidate

3. Analyst Reports

4. Annual and Quarterly Reports

5. Meeting Schedule and Locations (must be two years of dates)

6. Director Compensation 

     a. Fee – cash (annual and/or meeting stipend)

     b. Equity (stock and/or options)

     c. Other Benefits (discounts, transportation, membership fees, etc)

7, Decision Timeframe

Gerri Elliott

About Gerri Elliott

Founder of Broadrooms.
This entry was posted in Blog Posts. Bookmark the permalink.