Following the interview on Authority Magazine, “Five Things Corporate Boards Get Wrong, And How To Fix Them,” I had several questions and follow-ups. Given that some topics are of general interest, I got the six top queries and saved my inbox from the follow-ups. Let’s dive into your interest in my experience on the board.
Did you feel too young when joining a board?
I attended my first board meeting as an executive at 25. That was the only time I felt too young. The language was unfamiliar to me, as was the decorum, and the whole process seemed stiff, and everyone knew more about the matter than me. Yet, I managed to get my points across and communicate the strategies and outlooks the directors needed to know about.
Five years later, I felt less like an imposter when I became a director. I had an outstanding mentor to bounce ideas and thoughts off of before the meeting and thus could set expectations for myself. Thus, I had written down what my main contributions to the meeting would be, as well as my thoughts on the remaining agenda items. That ensured that I was relatively relaxed and made a good contribution.
In the end, practice makes perfect. Going through the NACD’s Director Certification and years of Toastmasters has helped me further my confidence with the style and etiquette questions. After many board meetings and varying subjects that come with it, I feel at home in the board room, whether I’m the youngest or not.
Do I believe in DEI?
Let me start with a broader view. Moving to a different country has challenged all these internalized views. The little prejudices you aren’t even aware of. For example, when I left Germany, the few black people I knew were highly educated due to immigration laws back then. At the same time, all of the small greengrocers in the area were run by Turkish immigrants or descendants. Until I came to the US, I wasn’t even aware of how that had shaped my perception. It was a fact of life. Why shouldn’t it continue to be so? Nothing shapes our opinions of the world as much as what we see when growing up.
Getting people with different views onto the board and into management positions can significantly enhance the perceived options. Gender, economic background, and our communities shape our perceptions when growing up. Thus, diversity will, most of the time, lead to different viewpoints, leading to more opinions and opportunities.
However, it only works if DEI is more than a marketing ploy. In September 2023, a friend asked me about a board announcement a company had prepared for her. It mentioned her name only in the fourth paragraph. Yet, the announcement mentioned African American Women 8 times before her name. Such instances make DEI appear to be a marketing spiel to fulfill needle requirements without a business purpose.
Consequently, we must accept that not all DEI programs are created equal and ensure that the ones we have serve their purpose and not just make us feel good.
When you say prohibit politics, do you mean stakeholder engagement?
Stakeholder engagement and political grandstanding are two very different things. Stakeholder engagement used to be called long-term company growth. The strategy ensures that employees stay long-term and customers want to return. It needs to encompass the whole company and align the mission with a long-term outlook to the vision instead of aligning it to next year’s profits.
Political grandstanding, in contrast, is an on-off political gesture to social media or a particularly loud group of activists. In itself, it doesn’t have any grounding in the company’s mission or its day-to-day operations. It’s a tool for leaders to make themselves feel good or to shut up vocal critics.
If you want to see the difference in action, compare Warren Buffet’s annual letters to the shareholders to Disney’s grandstanding regarding Florida’s laws. One is grounded in business practices, and the other is a meaningless gesture.
Are boards good for getting rich quickly?
When I joined the first board, I thought it would be easy with one meeting a month for a more than adequate fee. Preparing for the meeting, it dawned on me how complex the topics in the boardroom were and how difficult it would be to contribute to each of them meaningfully.
There is also an expectation to keep up with varying topics and read into all the prep material. These take up significantly more time than the actual meetings. Thus, board members are well compensated, but it isn’t a way to get rich effortlessly.
Should there be more technical people on boards?
Given the all-encompassing nature of the board, most members are generalists. We combine financial acumen with real-life experience. Coming from IT, many IT and Cybersecurity executives have experiences relevant to the board room. Additionally, we are well-versed in working under pressure, adapting to new situations, and learning complex topics. The significant issues are the language and the etiquette in the board room. However, no one is born with knowledge of the two, and many CFOs and CROs receive training before taking up their C-level positions because they are expected to work with the board. CTOs and CISOs should receive the same training, and there wouldn’t be any complaints about them.
Going back to the question about DEI, having people with different backgrounds on the board is crucial. Work experience can be one of those aspects, and we should work more to get technical people onto boards.
Do you hate Disney?
No. I grew up in the Disney Renaissance, and many of their movies and songs made my childhood. However, their recent posturing regarding the “Don’t say gay” laws in Florida was both a disaster for the company and LGBTQ+ communities affected by the law.
Keep Asking!
Thank you everyone for reaching out. I hope to fulfill your curiosity and plug the gaps I left in the interview. If not, feel free to reach out via E-Mail or social media!