The selection of a new board director is an important and delicate task. If not done well, the repercussions can be significant.
Over the past 25 years, JamesDruryPartners has refined the process by which we assess director candidates – combining both the art of the in-depth interview and the science of diagnostic assessment. DirectorSelect®, our proprietary director assessment model, incorporates three dimensions: the 30 years of professional insight we have gained in placing directors; the wisdom of our advisory board of 30 of America’s most distinguished directors; and the discipline associated with world-class, diagnostic assessment technology.
The penalty for making a mistake can be harsh. While a board may “nominate” a new director, it is the shareholders who elect the director. And, technically, while the board may ask an underperforming director to step down, he or she may not consent to do so. Only the shareholders can do so – as a result, the board may be saddled with a “problem director” until his or her term of service ends.
DirectorSelect® provides a meaningful step forward in the sophistication of the director assessment process, providing a more comprehensive methodology to objectively calibrate the qualifications and the softer director attributes, both the obvious and less obvious, that will determine the likelihood of effective performance in a director role. DirectorSelect® offers the potential to help minimize the probability of making a mistake.