Transitioning from a C-Level position to a board role is a significant career move, often seen as a natural progression for experienced executives. However, this shift is not suitable for everyone. In his insightful article, Gaurdie Banister Jr., a seasoned director and former CEO, outlines critical steps to evaluate if board service aligns with your career aspirations and personal goals.
Banister emphasizes the importance of thorough self-assessment and preparation before committing to board work. His advice stems from his extensive experience on various boards, including Tyson Foods, offering a realistic perspective on the demands and rewards of board service.
Why it matters: Although Banister’s advice focuses on CEOs, its principles apply equally to CIOs considering board roles. CIOs bring valuable expertise in technology, cybersecurity, and digital strategy, which are increasingly crucial for modern boards. By following the same steps of evaluating suitability, planning ahead, and building a diverse skill set, CIOs can effectively transition to impactful board positions.
- Evaluate Suitability: Board work demands a disposition for governance, risk management, strategic oversight, and succession planning. Potential directors should deeply understand these roles before deciding to pursue board positions.
- Plan Ahead: Consider your transition to board work well before exiting your current role. Networking and understanding the board landscape early can lead to fruitful opportunities.
- Set Non-Negotiables: Establish clear criteria for evaluating board opportunities to ensure alignment with your personal and professional goals. Financial readiness is also essential since board compensation is typically modest.
- Build a Diverse Portfolio: Board roles often require skills beyond your industry expertise. Being open to various sectors and investing time in understanding new industries can enhance your board contributions.
- Exercise Patience: Securing a board position involves realistic self-assessment and leveraging relationships. Patience and openness to different sectors can help in finding the right fit.
Go Deeper -> Thinking About A Pivot To Board Work? It’s Not For Everyone – Chief Executive
