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This video provides important tips for recruiting new board members.
With the advent of Sarbanes-Oxley in 2002, the dynamics of board service were forever altered. Time commitments, regulations, and accountability accelerated, and the process involved with the selection of board members followed suit. The use of the "friends and family network" became inadvisable and organizations began employing third-party assistance to ensure the application of best practices in board selection.
EFL Associates is routinely called upon by CEOs and governance/nominating committees to provide wise counsel and advice related to board composition. Although publicly held companies make up the vast majority of our clients in this segment, pre-IPO, private companies, and nonprofits engage EFL Associates to support the selection of board members.