Happy Holidays from the team at WATSON!
Please note that the WATSON offices will be closed from December 24th at 1:00 pm until January 2nd, 2013. We look forward to working with you again in the new year!
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Emergency Succession Planning: Increasing Expectations for Boards
At WATSON, we are firm believers that boards should always have an emergency CEO succession plan in place. Here's a good article in support of that view.
Recent marketplace developments serve to encourage governing boards to establish an emergency CEO successor contingency process as part of risk management protocols. Such a process would be in addition to the board’s traditional obligation concerning succession planning. Unexpected “lightning strikes” relating to CEO security are increasingly within the realm of possibility. They can create havoc for the organization, its brand and its constituents if not properly anticipated. Certainly, the development of an emergency succession plan requires substantial governance effort, is a distraction from the established board agenda and may lead to significant discomfort in the executive suite. Given what is at stake, however, these disadvantages are more than offset by the ultimate organizational benefits of establishing such a plan.
To read the rest of the article, click here.
Liz Watson Named One of WXN's Canada's Most Powerful Women: Top 100
Congratulations to our very own Liz Watson, who was named one of WXN's Canada's Most Powerful Women: Top 100. Liz was celebrated in the RBC Champion Award category, which recognizes women who are currently making a distinct and describable difference to the advancement of women in the Canadian workplace. The nominees were judged on the following four criteria: role model; impact on other women; change agent; and, community service.
We are very proud of Liz and this well-deserved acknowledgement of her amazing contributions! For a full list of winners, please click here.
Looking for a President and Chief Executive Officer
We are working with Atlantic Central to find their next President and Chief Executive Officer. If you share Atlantic Central's values, are an executive with 10+ years' experience, are a strong relationship builder and have a demonstrated track record in leadership, vision and change management, we want to hear from you!
You can find more details on the position and how to apply here.
Ten Lessons Learned from Summit 2012
Wise words from this year’s Boardroom Summit included those of a former SEC commissioner and current board member who clearly explained that in essence, the board has two responsibilities. First, oversee company strategy. The board wants its company to be innovative and to support management. Second, be knowledgeable of the regulatory environment so the company is consistent in rules of the game and interpretations. Other meaningful advice came from a former professional athlete turned director who told the crowd it takes a lot of unspectacular work for spectacular results.
For the full article, click here.
President Obama Endorses Good Governance
Looking for a Chief Financial Officer
We are working with Vancity to find their next Chief Financial Officer. If you share Vancity's values, are a financial executive with 10-15 years' experience, and have a proven track record in both day-to-day management and long range growth, we want to hear from you!
You can find more details on the position and how to apply here.
Looking for a Legal Counsel
We are working with CGA-Canada to find their next Legal Counsel. If you have strong business acumen, are a member of good standing with the British Columbia Bar, and have 10+ years of relevant experience in corporate, commercial and employment law, we want to hear from you!
You can find more details on the position and how to apply here.
WATSON Attends: Nature & Water Gala
Earlier this month, WATSON attended The Nature Trust of British Columbia's Nature & Water Gala. This fundraising event was a night of wonderful food and entertainment, as well as honouring individuals who work every single day to protect and preserve our beautiful British Columbia. Our placed candidate, Dr. Jasper Lament, was also introduced as their new Chief Executive Officer.
To find out more about The Nature Trust of BC and how you can get involved, please watch the video below.
WATSON Attends: North America’s Leading Conference on Not-For-Profit Board Governance
Last month I had the opportunity to attend the BoardSource Leadership Forum in Chicago, billed as “the only national [i.e., American] conference focused on the impact of nonprofit boards and the unique role they play in advancing the public good”. I joined approximately 800 other governance experts, nonprofit executives and board leaders from four different countries to participate in the conversation on the latest governance developments and trends in the not-for-profit sector. It was an incredible opportunity to spend two days immersed in the world of not-for-profit governance, where workshops, presentations and informal discussions covered such topics as effective board meetings, enhancing board engagement, the importance of intergenerational boards and the complex governance issues facing networks, federations and affiliated organizations.
It’s hard to narrow down the highlights from the Forum but here are a couple of takeaways that resonated with me the most. First, in a plenary session, LinkedIn founder, investor and philanthropist Reid Hoffman opined that boards of directors should have no more than seven members; any more than seven causes him to query whether the organization in question truly understands the value that an effective board can bring. Although in WATSON’s view there is no one “perfect” board size, we do see a trend toward smaller boards and agree that in general, smaller boards tend to be more effective and nimble (provided of course that they are large enough to ensure a diversity of skills, experience and perspective).
Second, one facilitator made the observation “when you’ve seen one board…you’ve seen one board”. A simple but powerful reminder that governance is not one size fits all. The “best” governance structure and processes for any organization (whether not-for-profit or otherwise) depends on a multitude of factors such as the organization’s mission, stakeholders and stage of development. Good governance helps organizations perform better, and one of our specialties at WATSON is to work with clients to create customized governance frameworks that take into account their specific needs.
All in all, a great experience! I am already looking forward to next year’s Forum in Los Angeles.