They're getting his expertise, business background, guidance and strategy concepts and approaches. Obviously, he or she doesn't have time to devote to all the activities they need to. Boards are, though, taking more executives to task for a company's failing performance, said Edelman. The directors today are taking a much more active role in the performance of the company. That's why this past year, we saw so many CEOs leaving their companies.
Competition is fierce for talented chief executives as well as a director.
Surveys show that companies like Tyson Foods are using recruitment or search firms about 15 percent of the time to fill seats, Gleason said. The company, the largest search firm among Fortune 500 companies, conducted more than 8,000 searches for high-level executives and board members worldwide. The better search firms also help boards of directors fully clarify the role of the board. One of the key things board of directors have to do now is make sure that leadership is in place and performing in a way that gets the business results and increases shareholder value. Inc. All Rights Reserved.