More than ever, industry firms expect their boards of directors to set strategies for the challenging times ahead and are revising what characteristics they want a potential director to possess, according to a new survey of industry governance trends.
Respondents appear to be getting more adept at defining what they want in board candidates, says the survey, conducted by management consulting firm Oberman & Associates Inc., Irvine, Calif. It points out that 42% of respondents in architecture, engineering, construction and management firms want directors who are “strategic thinkers” and “forward-looking.” Candidates with strong financial skills were valued by 40% of those surveyed; however, experience as a CEO or executive manager was cited as important by only 11% of respondents. The study says only 7% of respondents were looking for board members because of their “strategic relationships.”