Directors Roster.

• Author: Porter, Martin
• Position: Brief Article

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

CERTAINLY BY NOW the 212 newly elected directors in this most recent quarter have attended their first board meeting at the 186 companies featured in this edition's Directors Roster. For many of these executives, it may be their first close-hand look into a company and an industry that they're unfamiliar with.

These directors expect to contribute to board deliberations at some point -- but when? Should they speak up at their first board meeting? Or, wait a bit until they become more familiar with the new terrain? We presented this dilemma to three veteran directors who recently accepted new directorships. Their categorical advice: Speak up if you've got something of value to contribute, otherwise never feel compelled to say anything during deliberations.

Thomas D. Bell Jr., chief executive of advertising and marketing giant Young & Rubicam Inc., declares, "Whether you're an old director or a new director, my view has always been, don't say anything unless you've got something to say."

That doesn't mean directors who are new to a board should always remain quiet. Board deliberations, he notes, "are never limited to issues specifically related only to that company's business." While the board tackled a very specific topic -- whether or not a company should split its stock -- at his first board meeting at Cousins Properties, Bell says most new directors have likely dealt with a spectrum of accounting and human resource issues in other settings. "If you're well-versed in these issues, you have an obligation to shareholders, to your fellow directors, and also to management to present your views," he adds. Conversely, if the issues on the table are ones in which you don't have knowledge or experience, "it's probably best to stay quiet, unless you're asking questions to become better informed."

Joining the board of Washington Power & Light Co. will provide Debra Lee, president of BET Entertainment Group, an opportunity to learn more about issues affecting the utility industry. The former corporate attorney concedes she is unfamiliar with the energy industry, but believes her background in dealing...