Independant Directors

'My biggest mistake by far was not moving faster. Pulling off an old Band-Aid one hair at a time hurts a lot more than a sudden yank.'
Jack Welch, Chief Executive Officer, General Electric

Who do you need to help you?

When you appoint independent directors to your company, you gain their knowledge, experience and connections.

Good companies need strong independent directors to support their plans. These are people who have already been through what you can expect in the next few years. The best independent directors have qualities like:

experience leading successful management buyouts or public listings
experience as a chairman, chief executive or finance director
financial independence
strong communications skills
the ability to motivate others
awareness of shareholder issues
international experience.

When companies consider appointing an independent director, a discussion usually takes place between existing directors to determine what skills and experience are required.

But careful selection is only the first ingredient for success: it is also vital to use rigorous and thoughtful letters of appointment and review mechanisms to make the new appointment as effective as possible.