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Lesley Stephenson Presentation

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BEN Event: 22/10/09 - Role of the Non Executive Director

Published in: Technology, Business, Education
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Lesley Stephenson Presentation

  1. 1. Finding and working with non-executives – a small business perspective
  2. 2. What is a non-executive? • Christmas Bauble or Bidet? • Independent • Critical Friend • Wise Counsel
  3. 3. Who do you need? • Skills • Contacts • Money
  4. 4. How do you find them? • Someone you know already • Personal recommendation • Head-hunters • Advertise • The Financial Times Non-Executive Directors’ Club
  5. 5. Applications and interviews • Treat this application process exactly as you would any other application process • Draw up a list of ‘must have’ and ‘nice to have’ skills and experience and mark each candidate against them. • Once you’ve drawn up your shortlist, send candidates information about the company, the role and what skills you are looking for. • Beware of people who haven’t followed your application criteria • Do they want to work for YOUR business • Presentations
  6. 6. Practicalities • How much should you pay them • Cash versus equity • How much time should they spend in the business? • Engagement Letters
  7. 7. Induction • Help your non-executive(s) get to know the business – Give them copies of previous board minutes – Share with them your business plan and forward strategy – Introduce them to your accountants and any other key professional advisers – Brief them on key customers and arrange for them to meet if appropriate – Give them a tour of any operational sites – Briefings with key senior staff – Talk to them about what external training or support they might need • The more they know, the more help they can be, but …. Noses in, Fingers out!
  8. 8. Let the world know • Announce it to your staff • Do a letter to key suppliers and customers • Draw up a press release and send it to local and trade press
  9. 9. Lesley Stephenson, Editor, lesley.stephenson@non-execs.com

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