DIRECTORS to Watch: GENDER DIVERSITY.

SHEILA STAMPS

Director, I0VIA Holdings, Pitney Bowes Inc.

MFA Financial Inc., Atlas Air Holdings Inc.

Sheila Stamps, a former finance and investment executive, has diverse experience advising on financial and operational requirements of companies in the public, private and not-for-profit sectors.

A qualified financial expert, Stamps is a board member of IQVIA Holdings, Pitney Bowes Inc., MFA Financial Inc. and Atlas Air Holdings Inc., where she is audit committee chair. She also serves on the board of trustees of Bankinter Innovation Foundation.

Stamps' leadership roles in the banking industry include managing director and group head, financial institutions, at Bank of America and, prior to that, managing director, asset-backed securitization and executive management committee member at Bank One London.

Stamps earned an MBA in finance from the University of Chicago and a BS in management sciences from Duke University.

Trust as an asset class. "Trust, a crucial non-balance-sheet asset, often is not elevated to its deserved status amid stakeholder engagement. During these volatile times, and with expanding stakeholder expectations of board fiduciary responsibilities, leadership must recognize that the economic value of trust continues to appreciate. Trust is the lens through which all strategic decisions, stakeholder communications and workplace culture are filtered. Do our constituents trust us, and do our actions align with that trust and the sustainable growth of the company? A governance body should keep this question at the forefront of their decision-making process."

Key board skills: Finance, accounting and financial reporting experience; senior leadership experience; public company board experience

BEVERLY CARMICHAEL

Director, Blue Apron, Viad

Beverly Carmichael is a former C-suite executive with more than 35 years of experience leading people and legal functions across a diversified industry portfolio. She has been the top HR executive at various companies, including Southwest Airlines, Cracker Barrel Old Country Store and Ticketmaster. Her leadership made a demonstrable impact on each organization and its performance.

Carmichael has been a thought partner and adviser to multiple CEOs regarding risk, strategy and "all things people." She currently serves as a director at public companies Blue Apron and Viad Corp, and previously at Leaf Group. She also serves as a director at Cotton Patch Cafe, a private-equity-owned company, and Oklahoma Policy Institute, a nonprofit organization.

Carmichael holds BBA and JD degrees from the University of Oklahoma.

People and culture must be top priorities for boards.

"Companies do what they do through people. Yet, many organizations do not see people and organizational culture as a top priority, and it is rarely on the board agenda. Times are changing. More employees are assessing whether they work in an organization that values them, respects them and is worthy of their hard work and dedication. This includes whether the company has a full-throated approach to diversity, equity and inclusion. The tone must be set at the top, starting with the board and the CEO. If they do not make people and culture a priority, their employees will simply find somewhere else to work."

Keyboard skills: Human capital, culture and compensation experience; public company board experience; senior leadership experience

NICOLE ARNABOLDI

Director, Manulife, Commonfund

Nicole Arnaboldi is an experienced global business leader and board member with a broad range of management and investment experience. She serves on the board of Manulife, a large public global insurance and asset management firm. She also serves on the board of Commonfund, where she chairs the audit and risk committee, and Merit Hill Capital. She is a partner at Oak Hill Capital.

Arnaboldi spent the bulk of her career at Donaldson Lufkin & Jenrette and Credit Suisse. She also serves as a vice president and investment committee chair at Prep for Prep, on the board of Local Initiatives Support Corporation and on the Dean's Advisory Board at Harvard Law School.

Arnaboldi earned a BA from Harvard University and graduated with JD and MBA degrees from Harvard Law School and Harvard Business School.

Proper ESG oversight is essential. "One of the biggest challenges facing boards is ensuring proper oversight of ESG issues. ESG considerations are often viewed as costs to be borne irrespective of a return beyond some vague stakeholder satisfaction. In reality much of what is called ESG activity is simply good long-term investing. This starts with strong external board oversight, strong management and shareholder alignment through mechanisms such as compensation plans that focus on long-term equity appreciation versus quarterly earnings. ESG issues are part of long-term value creation, and effective plans reduce risks and generate focused strategies to ensure sustainable success."

Key board skills: Public company board experience; finance, accounting and financial reporting experience; senior leadership experience

ANNE ALONZO

Director, PotlatchDeltic Corporation

Anne Alonzo has forged a diverse career in the corporate, public and nonprofit sectors focusing on global sustainability, regulatory, marketing, risk management and ESG. She serves on the board and audit committee of PotlatchDeltic Corporation, a leading timber and wood products company.

Alonzo was previously a senior executive at three Fortune 500 companies, with the most recent as chief sustainability officer. Alonzo also served as president and CEO of American Egg Board and a senior leader at several U.S. government agencies, including the Environmental Protection Agency, the Department of State, the Department of Commerce and the Department of Agriculture.

Alonzo received her MBA from the University of Chicago and her JD from Chicago-Kent College of Law. She is a recognized diversity champion and a member of the "Top 100 Most Influential Latinas," according to Latino Leaders Magazine.

Broadening the lens and expertise on today's boards. "It has become increasingly clear that broader and different skill sets and expertise are needed on today's boards. The set of challenges and issues facing companies is more varied and complex than in the past, especially with increasing public and investor expectations focused on sustainability and environment, the global journey to net zero and a heightened focus on ESG issues, as well as the importance of being representative of today's marketplace. The good news is that there exists a pipeline of diverse talent to fill the gap and bring unique contributions to the boardroom."

Keyboard skills: Senior leadership experience; public company board experience; marketing, public relations or brand management experience

SALLIE B. BAILEY

Director, L3Harris Technologies Inc., The Azek Company, NVR Inc.

Sallie Bailey is an independent director, an experienced global financial executive and a senior fellow at the Harvard Advanced Leadership Initiative. Bailey currently serves on the boards of directors of L3Harris Technologies Inc., NVR Inc. and The Azek Company, where she serves as audit committee chair.

Bailey also serves as audit committee chair and on the board of TricorBraun, a privately held company. She previously served on the...