
How to recruit a non-executive director. Strangely, it may be easier to say “what not to do” in the first instance.
1. Don’t choose someone from the auditors- They will be boring
- They will be super cautious
- They will be too financially orientated
- They will probably guess this is partly why you choose them and may therefore be arrogant about it
- If they are a “big name” you are almost certainly going to be a minnow in their world
- This will soon wear thin. Trust is much more important (and don’t forget you should actually like these people)
- A good non-executive director is often better because they ask the “stupid question” that someone with industry experience considered irrelevant
- Decisions need to be challenged, hard and scary policies introduced. A non-executive director who is solely concerned with his or her fees will not contribute in the correct manner
- Independence is important. These people will carry too much baggage and emotion to do the job justice
- They do and both parties will feel more positive as a result of implementing such basic management principles
- They must be able to see way beyond the wood
- If they become operational, they may loose this vital ingredient
- Equally, if they become in any way submissive, it’s time to move on
- You must put in place a contract for services
- Templates are on the web but it’s best to get a lawyer to check it over
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