August 15, 2018 – Venture capital and private equity firm Osprey Capital has acquired Quincy, MA-based BoardProspects.com, an online boardroom community that provides individual and corporate-based members with corporate governance news, education and board recruitment solutions.
“We are excited to have BoardProspects join the Osprey family,” said David Hoffmann, founder and chairman of Osprey Capital. Mr. Hoffmann is the founder of search firm DHR International. “They have developed a unique software platform which we believe will disrupt the board recruitment industry around the globe.”
BoardProspects, which was founded in 2010, features cloud-based technology allowing members to prepare for board meetings, plan upcoming events, upload documents and recruit board members from a network of 18,000 qualified board candidates. Members can access their digital boardroom anytime, anywhere and on any device.
“Osprey Capital is a first-class organization which will provide tremendous value to BoardProspects as we continue to expand,” said Mark Rogers, founder and CEO of BoardProspects.
$2 Billion in Diversified Assets
Prior to starting BoardProspects, Mr. Rogers practiced corporate law in the Boston area for more than 10 years. In 2010, he was selected by Massachusetts Lawyers Weekly as one of Massachusetts’ “Up and Coming Lawyers” Mr. Rogers also served as an adjunct professor for four years at New England School of Law. He serves on the boards of several non-profit and private companies and has lectured and written extensively on the topics of corporate governance and boardroom issues.
Wilmette, IL-based Osprey Capital, which has more than $2 billion in diversified assets, is a private family office consisting of internationally recognized businesses owned solely by the Hoffmann family. Founded in 2002, Osprey has diversified assets in executive search, real estate, hospitality and food service, restaurants, transportation, cruise lines, executive suites, software, oil distribution, insurance, manufacturing, public market investment, aviation and wine-making. Through its operating businesses, Osprey has a presence in 27 countries with over 200 locations around the world.
Mr. Hoffmann served as CEO of DHR International (a role his son, Geoff Hoffmann, has assumed), and before that he served as CEO of EPS Solutions, a leading outsourcing company. Mr. Hoffmann serves on the board of directors of the Olin School of Business National Council at Washington University, and serves as chairman of the board of directors for DHR International, JobPlex and Edgewood Holdings.
Recruiting Board Directors
Director recruiting has grown markedly more challenging, say recruiters who conduct searches in that area. According to 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 widely sought but can be 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 are women, senior leaders with global experience, ethnically diverse professionals and Millennials.
Here’s a brief look at a small selection of search firms and their recent board work taken from the Hunt Scanlon Media newswire archives:
Diversified Search has recruited Betsy Atkins, Dee Dee Myers and Wendy Webb as members of the board of directors for Wynn Resorts. Wynn Resorts is pleased to welcome Betsy, Dee Dee and Wendy to its board of directors following a thorough search process that included input from shareholders and Diversified Search.
Boyden has placed Joe Guith, Matthew Wadiak and Etienne Patout as members of the board of directors at Goodwill Industries International. “After an exhaustive search, Boyden is enthusiastic about the talent that Joe, Matthew and Etienne bring to the Goodwill team,” said Alicen Blair-Sibly, a managing partner of Boyden in Atlanta.
Greenwich Harbor Partners has been enlisted by Teach for America – New York to recruit for multiple board positions. The firm recently filled the first board spot with the placement of Deborah Rosado Shaw as a director. The assignment was led by Carrie Pryor and Ted Pryor, managing directors of the Greenwich, CT-based search firm.
Polachi Inc. placed Sam King and Angela Tucci as new members of the board of directors at Progress Software in Bedford, MA. Ms. King is senior vice president, general manager and chief strategy officer of Veracode, the application security business of CA Technologies. Ms. Tucci is CEO of Apto.
Kincannon & Reed placed Roland Wolfram and Elin Miller as new members of the board of directors at Fall Creek Farm & Nursery. Mr. Wolfram previously served as VP and general manager of emerging markets at Nike. Ms. Miller is a veteran agricultural and management executive with more than 30 years of senior leadership experience in the corporate, government and …
Executive search firm Diversified Search has placed Christopher M. Connor as a member of the board of directors at International Paper Company in Memphis. Managing director Lauren E. Smith led the assignment. Mr. Connor retired as executive chairman of the Sherwin-Williams Co. in December.
Korn Ferry assisted Mutual of America Life Insurance Company in adding Dr. Ellen Ochoa to its board of directors. Alan Guarino, vice chairman in the firm’s CEO and board services practice, led the search along with senior client partner Maureen Ryan. Dr. Ochoa is the director of NASA’s Johnson Space Center.
Spencer Stuart assisted Fred’s Inc. (Fred’s Pharmacy) in adding Christopher W. Bodine, Peter J. Bocian, and Michael K. Bloom to its board of directors. The directorship placements are part of an ongoing reconstitution process at Fred’s in which the board has been actively engaged, with the assistance of Spencer Stuart.
Contributed by Scott A. Scanlon, Editor-in-Chief; Dale M. Zupsansky, Managing Editor; Stephen Sawicki, Managing Editor; and Andrew W. Mitchell, Managing Editor – Hunt Scanlon Media