The Board & CEO: Lessons in Partnership

Our members joined together for an exclusive dinner and peer exchange, generously hosted by Logan McDougal, Kasey Miller, and Sarah Van Dyck, consultants at Egon Zehnder, to explore the dynamic relationship between the board and CEO. As a group, they guided as discussion on best practices for fostering a strong partnership that drives the success and growth of the company. Please find a few key takeaways below:

1. While there’s a lot of documentation and focus on the topic of the board and CEO relationship, it’s critical to remember that it’s important as a starting point to have the right candidates for boards – those that have a good personality fit with the mission and values, as well as the balance of IQ and EQ. Candidates need to have opinions but also know when best to listen versus speak.
2. Every relationship between a CEO and the board of directors is different. How can you evaluate the strength of the relationship, and when you need to adjust?
3. Separate to the formal obligations of the board (governance, etc.) there’s an increasingly important opportunity to connect with the executive teams directly – as human beings – and form relationships. These are important not only to deliver against business objectives but for two-way development as well.
4. We had a good conversation about how we can build these relationships – through quality time between the CEO and board directors – and that this is a two-way obligation. Examples were given of 1:1 dinners, or joint travel – how can both sides seek opportunities to connect?
5. Lastly, there was recognition that these relationships can and will evolve over time. If a director or CEO isn’t happy with the status quo it can be changed through direct discussion and communication.

Thank you to our generous sponsor for hosting this dinner: