Our client was an international industrial business in the FTSE Small Cap, seeking to strengthen its Board through the appointment of two Non-Executive Directors; one appointee was to replace a retiring Director and one would constitute an additional member of the Board.
Through detailed briefings with the Chairman, Senior Independent Director and Chief Executive we identified the ideal profile for the first non-executive. This process enabled us to understand the strategic priorities, opportunities and risks for the business. The Chairman had identified a specific skill set missing amongst the existing Board in this context. Through our own analysis we identified some additional skills and experience that would be beneficial. The combination of these formed the final person specification approved by the Board and on which we based our search. It became clear part way through the search process that there was a need for broader Board succession and as a result we agreed a second brief for the additional role.
The respective profiles we searched for were: a Senior Director with a track record of international growth combined with functional sales and marketing experience; and an experienced non-executive director, with international B2B services credentials. Through a vigorous and structured research process we identified candidates from relevant backgrounds, based in the UK and overseas. We approached potential candidates to ascertain appetite and capacity. After agreeing a shortlist of four candidates for the first role, interviews began. Shortly afterwards, a shortlist of two for the second role was agreed and interviews ran concurrently. The combined shortlist contained candidates from China, the US, Italy and the UK, and was 40% female. The shortlisted candidates met the Chairman and Senior Independent Director initially, who narrowed it down to a total of four candidates. Subsequent meetings then took place with the other Board members, the CEO and the CFO, from which the two preferred candidates were selected.
Two candidates were successfully appointed and both have joined the Board. The company is performing on target, with results in line with the Board’s expectations. It is benefitting from the fresh perspective and experience of its new Board members.