Directors roster.

• Author: Porter, Martin
• Position: Board of director appointments from Apr to Jun 1999

In affiliation with Spencer Stuart -- a quarterly record of new director appointments

YOU'RE AN EXECUTIVE of an established manufacturing or industrial company and have been asked to join, the board of a fledgling dot com" company. You're disinclined to join at first because your only knowledge of Internet companies is that many of them have had high-profile IPOs but have not yet reported any substantial earnings. The managers of many of these companies are much younger and less experienced in business than you are accustomed to working with. And, you ask yourself, what does the future hold for this company? After some thoughtful consideration, you go ahead and join the board, recognizing that this new frontier of technology may yield unforseen opportunities and rewards.

Nearly 20 of the 218 companies featured in this edition of the Directors Roster provide services via the Internet, and many more provide Internet software and technology. Of the 274 directors joining boards during this reporting period of April-June 1999, three veteran executives share their insights on becoming a director on Internet company boards. They are Fingerhut Cos. President and CEO William Lansing (joining the board of Net Perceptions Inc.), former investment banker 1. Peter Gaskins (thatlook.com), and iMall Inc. EVP and CFO Anthony P. Mazzarella (Mustang Software Inc.).

Lansing was formerly a mergers and acquisitions attorney before he became an Internet practice leader at McKinsey & Co. He later helped launch Prodigy's Internet service during the early '90s. In addition to Net Perceptions, Lansing is a director of four privately held Internet companies, two of which he says may soon become public.

Most important to him is that because his "time is so scarce," he says he "only wants to be associated with industry-leading companies." He believes Net Perceptions, which has only $5 million in revenues, is the leader in innovative technology that allows retailers to advertise their products via the Internet.

Any director joining Internet company boards, he notes, must have "an appreciation for the incredibly complex strategic challenges these companies face, and have the ability to help them exploit the tremendous marketing opportunities the Internet presents." He observes that these companies seek directors who can add value through their Rolodex and who have the ability to help the company make sensible strategic alliances. He also points out that while many of...