Friday, May 01, 2009

Let's Hear It for the Board

It's Friday night in the Roxiticus Valley, and London, Maddie and I are happy to have Rex back for the weekend after he spent almost the whole week at a private company Board meeting down in the Northern Virginia and Washington, DC area. Although we miss Rex when he's away, he sits on two Boards and really enjoys the work.


According to Lightship Research Co. There are approximately 60,000 publicly traded companies and an additional 20,000 private companies with boards of directors in the United States. This results in a total of 80,000 boards nationwide. Experts estimate that the average board tenure lasts approximately eight years, meaning that in any given year, up to 10,000 board seats must be filled.

The board is responsible for planning the long-term future of a corporation and work side by side with management. Together, the board and the management strive to align long-term goals and the company’s vision with attainable short-term objectives. The board will often work closely with the CEO - the relationship between board members and the CEO/management team is complex and very important. Before even considering accepting a board seat, you may want to ask yourself:

• Do I believe in the cause/vision of this organization?
Am I at the particular stage of my life to add the responsibilities of board membership?
• What can I personally contribute to the board?
• What do I hope to gain from being a member of the board?

If you are interested in learning more or would like to become a board member you may want to consider LIGHTSHIP RESEARCH.