When the Board Seat Becomes the Hot Seat

If you have your sights set on a board seat in the future, you might want to think twice. Many executives spend the majority of their careers in a particular industry, and can find it daunting to join a board outside of that industry. But a fresh perspective is often just what a board is looking for. “It’s important that the board as a whole has some skills in the industry that the company is involved with,” Richard Randall, a board member for Steve Madden, Ltd. shared at the program titled “Landing that Coveted CFO Position or External Board Seat.” “However, if every member is from the same industry, it doesn’t work.”