September 25, 2017 – Search firm Allegis Partners is partnering with the Directors Academy to enhance its NextGen Directors Program, a peer-to-peer learning environment offering educational classes and networking opportunities. It is designed to accelerate the development and placement of next-generation board directors.
The NextGen Directors Program also aims to accelerate shareholder value creation by building a pipeline of prospective board members from diverse backgrounds, experiences, ethnicities and genders, said the organizations. It is also designed to educate, expose and socialize the next generation of board members to good governance practices, and then proactively match its talent to board opportunities.
“The NextGen program advances the Directors Academy mission through the sponsorship and participation of high-performing senior executive talent and access to future board opportunities,” said Keith Meyer, president of the Directors Academy and also global practice leader of Allegis Partners’ CEO & board practice. “We have seen some early successes with 2016 NextGen Directors participants who have already been appointed to their first public board, and this is very encouraging.”
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The Directors Academy is expanding the NextGen Directors Program to a national initiative with member classes in San Francisco, Sept. 21-22, and in New York, Nov. 2-3. Classes are limited to 15 to 20 participants, the group said, to ensure an intimate learning environment, and exceptional and ongoing networking opportunities.
The Academy faculty is being further developed by its collaboration with the FT Outstanding Directors Exchange. The groups hold off-the-record, annual meetings for sitting public company directors and CEOs across industry sectors enabling them to discuss critical boardroom concerns.
“We are also developing a board leaders program which will help advance diverse board members into leadership roles with faculty/ peer mentoring,” said Paul Williams, co-leader of Allegis Partners North America CEO & board practice. He himself is a board member for three public companies as well as president of the Chicago chapter of the National Association of Corporate Directors.
“Allegis Partners truly understands the value of diversity in the boardroom,” said James D. White, chairman of the board of the Directors Academy. “As our exclusive executive search partner, their team is dedicated to accelerating the placement of qualified, diverse director candidates who bring a wide range of relevant skills, expertise and experience that help clients improve governance performance.”
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Allegis Partners, which is part of the Allegis Group, delivers a boutique, high-touch approach to talent management. The firm provides a full range of related recruitment services as part of its standard search mandates, which includes succession planning, talent mapping, compensation benchmarking, assessment and market intelligence. The firm also facilitates onboarding of new leaders as part of its usual search process.
Director recruiting has grown markedly more challenging, report recruiters with board practice emphasis. According to recruitment firm Egon Zehnder, heightened expectations now placed on boards have elevated both the professional standards and personal commitment required of all directors.
At the same time, many boards find that the supply of independent-minded “board experienced” directors – especially those who can add vital forms of specialized skills and expertise – is limited. Such candidates are both widely sought after yet sometimes hesitant to take on the intensive responsibilities now required of board service.
As a result, companies continue to turn to executive search firms to help find new board members. Most in demand: women, senior leaders with global experience, ethnically diverse professionals, and Millennials.
“Institutional investors have been vocal about board composition,” said Julie Daum, leader of Spencer Stuart’s North American board practice. “They simply want to know that boards have the right skill-sets to guide and oversee today’s companies in their three-, five- and 10-year plan for value creation. Age diversity becomes an inevitable factor, as this younger generation of directors possesses extensive expertise on many of these fast-evolving strategic and governance issues.”
Contributed by Scott A. Scanlon, Editor-in-Chief; Dale M. Zupsansky, Managing Editor; Stephen Sawicki, Managing Editor; and Will Schatz, Managing Editor – Hunt Scanlon Media