How 'rising stars' become boardworthy: in addition to their skill sets, there are certain intangible qualities that prospective board members must have.

• Author: Meneley, Gail R.
• Position: Director recruiting

IRONICALLY, as the demand grows for CEOs to join corporate boards, fewer can afford the time because of the increasing pressures of leading complex global businesses. Although most companies still want C-level candidates, the current shortage is forcing nominating committees to step back and consider other potential recruits.

One target group generating great interest is high-potential "rising stars": executives who have a successful track record, possess the tangible and intangible qualities to make them board material, and may be near but not necessarily occupy a C-suite position. These executives are attractive because they are still in the operational trenches and have a keen understanding of the key levers that drive a business.

What qualities must rising stars have to be considered "boardworthy"? There are a wide range of core competencies--in operations, leadership, management, M & A, strategy--that nominating committees seek in potential candidates, as well as a solid background in a particular industry or first-hand knowledge of a given market. But there are also a number of less tangible qualities that are equally important predictors of effectiveness in the boardroom. We examine five of those attributes below.

1. Commitment

   Prospective board members must demonstrate commitment. Board membership requires a commitment of time as well as a commitment to serve the company with a genuine interest and a real passion. Commitment to serve translates into a willingness to make hard decisions, even if those decisions run counter to prevailing opinion. It also means being an objective, independent thinker who is committed to doing what is right for the company and its shareholders. Executives develop into real leaders by learning how to work positively and collaboratively during times when there are significant differences of opinion about the right path to take.

2. Integrity

   Most executives will say that they have high integrity, but the issue is whether they "walk the talk." Most of the choices facing major corporations have few black-and-white answers. Unrelenting pressure from analysts and shareholders to drive financial performance can create gray areas that cloud right from wrong. Directors should be able to see where the ethical edges are being approached and, despite pressure, state their opposition to making "exceptions" that will bend the rules.

3. Curiosity

   Intellectual and cultural curiosity are two "must have" intangible traits. Intellectual curiosity helps feed creative energy and allows someone to evaluate situations using multiple lenses, offering a new perspective to the challenges at hand. Genuine interest in other...