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CREATING BOARD OPTIONS FOR YOUR FUTURE:

Ideas and strategies for developing a board perspective, creating a board resume, managing risks, and understanding compensation in order to enhance your board career.

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CREATING BOARD OPTIONS FOR YOUR FUTURE:

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  1. CREATING BOARD OPTIONS FOR YOUR FUTURE: Larry Stybel Board Options, Inc.

  2. Ideas to ActionIdeas to Action:

  3. MY MISSION: • Why is It Important for Rotary members to have a Board perspective. • Creating a Board Strategy • Creating a Board Resume • Distribution of that Board Resume • Managing YOUR Risks. • Compensation

  4. “WHY IS A BOARD PERSPECTIVE IMPORTANT?” • When a Fish Rots…… • What is the CEO Obsessed With? • How to gain a CEO’s attention. • Improving your visibility/network. • Interesting.

  5. 400 Years of Board Work: • Review and approve strategy. • Hire and fire the CEO. • Review the finances to see how the money is being spent. • Nose In; Fingers Out.

  6. Your Board Strategy: food chain • Nonprofits-Small. • Nonprofits-Large. • Heritage Private Companies. • PE Dominated Private Companies. • Pre IPO • Small Cap Public • Mid Cap Public • Large Cap Public

  7. EXERCISE • Review the Executive Summaries in the boardoptions.com Board of Directors Talent Bank.

  8. http://www.boardoptions.com/

  9. Board Resume • Senior Financial executive with Board experience. Industry experience includes software and medical instrumentation. Can contribute to strategic discussions involving new product evaluation, establishing operations outside the USA, and M&A. Qualified to serve on the Audit and Compensation Committee. Well suited for a private company seeking to aggressively grow.

  10. 57262 - Executive Director, global merchant bank operating in 36 countries. Her responsibilities include business development, private equity, joint ventures. Strong India contacts. Industry experience includes financial services, energy, clean tech, carbon financing, office furniture, and consumer products. She has worked for global leaders such as Coca Cola, Herman Miller. MBA, Wharton. B .A. in Economics, Yale. Can contribute to Board discussions involving strategic review, globalization, M&A, and sources of funding. Qualified to serve as Chair of an Audit Committee as well as serve on Nominating & Governance, and Compensation. She lives in the New York City area. Former Board member of the Simon Wiesenthal Center in Europe.

  11. Exercise • Individually decide where you are on the next logical run of the board food chain. Write down your value proposition. • Discuss with each other: state your value proposition to others .

  12. How to Create Board Options: • Articulate your value proposition: strategic, industry, contacts. • Clearly articulate where you are: audit/oversight vs. advise/counsel • Create a Board Resume • Define your Board Resume distribution channels

  13. Board Distribution Channels • Partners who know Partners in law firms—corporate not tax partners. • Other Board members, check out Guidestar.com investing business week (name of person) • Tax Partners at CPA firms who can refer you to audit partners. 

  14. Board Distribution Channels • Recruiters.  • National Association of Corporate Directors • Boardoptions.com • Boston Club

  15. Your Bumper Sticker • I only have time to serve on one Board. I want to make it a good one.

  16. Give it Two Years!

  17. Managing Risks.

  18. D&0 Liability Insurance • Get your own insurance agent to give you a second opinion about its adequacy. • Make sure you are covered for actions taken while you are a Board member even if the law suit takes place after you have left the Board. • Who selects your attorney?

  19. Reputation Risks • Terms protect you. • Write your resignation letter and give it to the President/Chairman and leave the date blank. • Ask for dates of full Board meetings and committee meetings up to one year in advance.

  20. Compensation Issues. • Annual Retainer vs. Meeting Fees. • Equity: .5-1.5%. • Key negotiation should be on the amount of equity and the pay-out of equity.

  21. Next Steps • Review the Board of Director Talent Bank in Boardoptions.com. Complete the “submit your credentials” information. • Email to lstybel@boardoptions.com

  22. MORE RESOURCES www.boardoptions.com www.nacdonline.org www.directorship.com www.boardroominsider.com

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