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If a company’s board is to approve a new member they must ensure that the candidate is a good fit for the organization. This is why the interview process is a crucial element of the procedure.
Board members are interested in hearing candidates talk about their relevant skills and experience that make them fit for the job with a particular focus on the value they offer. Interviewers frequently ask questions to gauge the candidate’s understanding of the complicated and challenging issues that a board member may have to deal with.
They will also want an understanding of how a candidate handles conflicts and how she can effectively engage others on the board with respect. It is also common for boards to inquire of the candidate how they would approach specific issues like shareholder engagement and potential conflicts of interest and the necessity of ensuring that the business is operating in a moral and ethical way.
Most often, companies offer a list of pre-read materials for applicants to read prior to the interview. It’s more than the mere glance to gain a deep understanding of the business, its current board members and C-suite leaders along with the dynamics of the industry and the most significant risks. The best way to prepare is to listen to CEO conversations with analysts and investors, says Deb DeHaas, the two-time public company board member and chief executive officer of the Corporate Leadership Center. She also says it’s essential for a candidate to be able explain why the company, its product or challenges are intriguing to them and how their experience can assist in addressing those issues.