The expectations placed on Boards by both shareholders and external commentators are higher than they have ever been. Working with a firm that has experience of and understands the unique pressures and challenges of the boardroom is therefore vital.
We have helped to appoint over 600 Chairmen and Non-Executive Directors to the Boards of international businesses. The partners at MWM have acted for 35 of the FTSE 100 as well as 65 of the Fortune Global 500 companies at Main Board level. We have appointed over 25 of the current FTSE 100 Chairmen as well as board members across Continental Europe, the US, the Middle East and Asia Pacific.
Our clients range from some of the largest companies in the world, including 12 of the current FTSE 25, through growing mid-cap enterprises, to smaller companies seeking to attract high calibre Non-Executive Directors. We also act for a range of private equity backed companies putting together Non-Executive Boards as they plan for an IPO.
When working with a Board to appoint a new member, we work closely with the existing Directors to understand the structure, style and developing needs of the business. Specifically, we consider the following:
The Board should look first to the requirements and interests of the business in defining both the role and the profile. The prime drivers should be credentials and capability, alongside ‘independence’. Issues that need to be considered include the stage of the business cycle, the business needs, the contribution of the CEO and the availability of candidates with both appropriate credentials and time to commit.
When Boards are considering succession planning for Non-Executive Directors, we work with them to look first at the strategic needs of the business. Then, we together look at the existing Board capability and determine any potential gaps. This enables Boards to enhance or ensure the continuity of their strategic capability whilst also meeting governance requirements. This approach also helps attract the best candidates as the market for Independent Directors becomes more competitive.