A non-executive director, also known as a board director, is a position which is elected in a company. They represent the shareholders, and they make sure that the company is managed responsibly while maximising the value of shareholders. They are also responsible to define the strategic goals for the company and make sure that they are met by the management.
They will often be asked to make decisions that are not just strategic but also financial in nature, such as capital budgets, operating budgets, and compensation decisions. This position requires a large portion of their time away from board meetings. This involves fundraising, attending events and evaluating whether the company adheres to its mission.
Board Directors must fulfill the fiduciary obligation to the company. This means they have to set aside their personal desires to serve the company. This is a very important responsibility and one that should be considered by all candidates.
There are several options to become a Board Director and many people end up in this position by chance or by being asked. If you’re interested in becoming a Board Director, it’s a great idea to actively pursue the opportunity. You can start by identifying the organizations that interest you and contacting someone on the board.
When you are writing your resume, make sure you highlight your experience in leadership and strategy. Focus on organizations that you worked closely with the board or made major high-stakes collaborative decisions. Also, if have any qualifications in your education that are relevant (such as a Masters of Business Administration), include them in your profile.