One of the board's roles in a family enterprise is to develop and monitor the organization's progress in achieving its strategy. To do this, it is imperative that the board of directors include a mix of skills, experience, and backgrounds necessary to guide the company through change and create paths to growth.
Many family enterprises start out with family members filling all seats on the board. But as complexity and growth opportunities increase, it is important to find independent directors outside the family to bring new and diverse insights that support current and future strategies.
PwC helps private family-owned enterprises identify candidates that match their director criteria to reach their recruiting goals and priorities.
Every board is unique, but many have similar needs with regard to the qualities of a successful board member. Generally speaking, strong boards are marked by diversity – including experience, background, age, gender, ethnicity and style. Boards should consider these different attributes to help define the ideal board member and select the best match.
Our team worked with a private family business to identify outside board members to serve on their company’s board of directors. We helped the company assess their current board composition, identify the skills needed on the board, create director profiles for new board seats, and develop a process for recruiting new members to fill identified gaps.
PwC's director database was built specifically for family enterprises. The database holds a large pool of top-notch individuals culled from our vast network of executives and advisors who are interested in serving on boards.
Our clients receive a slate of highly qualified candidates from PwC's Director Database to take through their own interview and selection process, until the ideal director has been identified.