Finding a Chair for a challenged but ambitious ASX
“Our Chair is in ill health and retiring.
Our other directors live interstate or have other obligations and are not able to take on the chair role of an ASX and the extra work commitment that involves.
The Chair role is broader than the role of the other Directors including engaging with the CEO and with the different Directors and stakeholders; the Chair needs both the skills and time to manage these relationships in a productive way.
Can you help us find a Chair with ASX experience who will be credible with investors and stakeholders in our industry?”
The Company
- An ASX listed company.
- Operations in Australia and New Zealand.
- Ambitions to enter Asia through M&A.
- Had experienced some challenges and media attention
Our Actions
- We ensured we understood the company well, including the current financial position, published outlooks, and updated broker reports so that we could have an informed conversation with potential candidates.
- We reviewed our existing networks and database, and invested in original research.
- While “a big name” had value, it was important that we filter prospective chairs for their ability to commit time and energy.
- Directors also referred candidates from their networks; we included these referred candidates in our process, balancing positive communication and objectivity in the benchmarking process.
Results
- In 3 weeks we delivered a long list with high caliber candidates.
- We included diversity on gender and heritage.
- We ensured strong and validated reference checks, including forensic checks.
- The Board were delighted with the outcome and with identifying their successful candidate.
“Our Chair is in ill health and retiring.
Our other directors live interstate or have other obligations and are not able to take on the chair role of an ASX and the extra work commitment that involves.
The Chair role is broader than the role of the other Directors including engaging with the CEO and with the different Directors and stakeholders; the Chair needs both the skills and time to manage these relationships in a productive way.
Can you help us find a Chair with ASX experience who will be credible with investors and stakeholders in our industry?”
The Company
- An ASX listed company.
- Operations in Australia and New Zealand.
- Ambitions to enter Asia through M&A.
- Had experienced some challenges and media attention
Our Actions
- We ensured we understood the company well, including the current financial position, published outlooks, and updated broker reports so that we could have an informed conversation with potential candidates.
- We reviewed our existing networks and database, and invested in original research.
- While “a big name” had value, it was important that we filter prospective chairs for their ability to commit time and energy.
- Directors also referred candidates from their networks; we included these referred candidates in our process, balancing positive communication and objectivity in the benchmarking process.
Results
- In 3 weeks we delivered a long list with high caliber candidates.
- We included diversity on gender and heritage.
- We ensured strong and validated reference checks, including forensic checks.
- The Board were delighted with the outcome and with identifying their successful candidate.
