Host Boards

 

Future Directors aims to give young talented people the opportunity to observe and participate on a company board for a year while giving the company exposure to this talent and the benefits a young mind can bring to the boardroom.

Future Directors will participate as a board member in all aspects but will have no voting rights and will not form part of the quorum of a board meeting.

Future Directors will most likely be:

  • what we would consider young stars who stand out as having achieved something significant in business to date
  • second or third tier management or business owner
  • most likely aged between 35-50 years although individual hosts may have age criteria relevant to their board mix
  • have a range of skills and sector experience which once again host companies can specify to suit their board requirements.

Why become a Future Director host board?

Host boards get to:

  • bring a young and fresh perspective to your boardroom
  • tap into the skill sets of a generation that does things differently
  • see how age diversity can impact your board dynamics
  • help develop the talent for tomorrow’s boardrooms
  • demonstrate their comapny's commitment to diversity

How does it work?

Host boards sign up with the IoD and complete a detailed questionnaire on the skills and sector experience they want to complement the skills already on their board.

The IoD works with one of several leading search firms or uses its own DirectorSearch service to refine the search and recommend a small number of potential candidates taken from the Future Directors database and their own networks.

The host chair interviews the candidates and makes a final selection. The IoD has resources for the host board to facilitate this process such as a sample letter of appointment.

Once selected a Future Director will participate as a board member for 12 months in all aspects but will have no voting rights or form part of the quorum of a board meeting. The host board will assign an experienced board member as mentor to help the Future Director get even more from the process.

If you would like to discuss becoming a Future Directors host board, please contact Lisa McRae on 04 499 0076 or email futuredirectors@iod.org.nz

Appointment Letter

Chapman Tripp Legal Opinion: The Legal Status of a Future Director

Russell McVeagh Legal Opinion: AIAL Future Directors Memo