A board composition matrix identifies the skills, knowledge, experience and capabilities desired by a board to enable it to meet both the current and future challenges of the entity.
The creation of a board skills matrix is an opportunity for considered reflection and productive discussion on how the board of directors is constituted currently and also how it believes it should best be constituted in the future to align with the strategic objectives of the entity. The board skills matrix should always be tailored to the unique circumstances and requirements of the company concerned.
While developing your matrix, the trick is to focus on actions needed. Consider what people will do rather than what people are. This can be done by asking two questions:
a) What are the three most important things for our board to accomplish this year?
b) Do we have the right people on the board to make those happen?
Our third episode of the board composition matrix mini-series welcomes Maria Garcia Nielsen to the discussion. Maria has extensive experience in the boardroom and was named a Global Fortune 200 Division CEO. She has a proven track record of building companies with deep domain knowledge in IT services. She also leverages her background in engineering with strategic, digital, and operational skills.
In today’s episode, Maria helps inform us of challenges faced in the international board space. She helps us identify key differences and shares with us the knowledge required to prepare for these different obstacles. She also shares about some of her experiences serving on the two private boards she’s currently with. We discuss these topics and more on this episode of Boardroom Bound.
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