May 2023 - INAC

What Is An Executive Board Chair?

Posted on May 24, 2023June 15, 2023 by Joana Botelho de Sousa

Have you been hearing the term executive board chair more frequently? The role has become more ubiquitous, likely partly due to Amazon’s high-profile announcement that Jeff Bezos would be moving from CEO to Executive Board Chair. How does an Executive Board Chair differ from a board chair?

According to Spencer Stuart’s 37th annual Board Index, 15% of the S&P 500 board chairs are listed as executive board chairs. A recent Harvard Business Review article examined data over the last 20 years to see how the board chair’s role has evolved.

Historically, board chairs are responsible for board leadership, organizational oversight, and providing strategic advice. If the board chair is also the CEO, they are more involved in the strategic responsibilities, whereas a board chair who is not also the CEO will pay more attention to board leadership and oversight.

In looking at what makes an executive board chair different, most often, it is their relationship with the company. Like Jeff Bezos at Amazon, they tend to be a previous company leader. According to the article, 40% were the company’s retired CEO (but not a founder or member of the founder’s family), 35% were the firm’s founder, and 11% a member of the founder’s family. This prior leadership level means that executive board chairs have significant institutional knowledge about the company.

This is an excellent alternative for companies abandoning the CEO chair in favor of a better balance between management and oversight. The executive board chair has strategic knowledge about the company but is now independent. And the position is paying dividends. Companies with an executive board chair average 33% higher profitability.

Having an executive board chair has its challenges too. There are blurred lines for responsibilities between an executive board chair and the CEO. The report suggests boards answer the following questions when determining if they need an executive board chair.

How Powerful Is The CEO?

Powerful CEOs tend to make more unilateral decisions. An executive board chair can provide oversight and monitoring due to their previous involvement in strategic decision-making.

How Complex Is The Organization?

As companies become more complex, they become harder to manage. This is especially true for companies that grow through acquisition(s). An executive board chair involved in strategic decisions could be one voice too many if the person doesn’t allow the CEO unity of command.

How Demanding Is Board Leadership?

Board chair responsibilities are growing. In addition to recruiting and developing directors, they are responsible for diversity, equity, and inclusion initiatives and have more of a public eye on them than in the past. With executive board chairs’ involvement in strategy, they can quickly become overwhelmed. If this sounds like your company, a non-executive board chair may be a better fit.

Whether the executive board chair is a way to stay close to the company or an interim role during a CEO succession, there are different considerations to ponder. Understanding how the role is different can help determine when you need an executive board chair.

By Jon Gordon – INAC USA

The art of losing

Posted on May 18, 2023May 24, 2023 by Joana Botelho de Sousa

Recently I read a poem of the famous American Pulitzer-Prize winner poet Elisabeth Bishop (1911-1979) and it made me think about “The art of losing” in our lives and especially on the labor market today.

Experience with “change management” is very welcome on the labor market, but are we really prepared for changes? Are we prepared for losing colleagues, for losing jobs, for losing market segments?

Recently I got several calls from managers who lost their jobs because of market changes/changing company strategies, and they stay shocked in front of unexpected new situations of becoming job seekers from one day to another. Some of them have been at the same company for such a long time that they need advice how the job market works today.

On the other hand, when I call potential candidates, I often get to hear “thanks, no intention for changes for now”, not even a curiosity what a new position can offer.

Of course, candidates get nowadays a lot of offers, not all of them would fit to their working experiences and situation and it’s also not so easy to screen all possibilities.

But are we not a bit too lazy on our current workplaces to look around at least every 6 – 7 years? Or is it not rather the fear of unknown situations which leads us to keep the status quo? What happens when the world around us changes?

Among my acquaintances are people who plan only for the next 6 months in their private life because they mean everything is so uncertain that they are better off to stay so flexible. This kind of life attitude might be in minority, but in my opinion something in between these extremes would help us to react to unexpected changes more easily – like learning the art of losing. Take a change as a chance!

How about you? How flexible are you?

By Dominika Kelemen-Raths – INAC Germany II

For those who want to light up their day with some poetry, please find the mentioned poem below:

One Art

By Elizabeth Bishop

The art of losing isn’t hard to master;
so many things seem filled with the intent to be lost that their loss is no disaster.

Lose something every day. Accept the fluster of lost door keys, the hour badly spent.
The art of losing isn’t hard to master.

Then practice losing farther, losing faster: places, and names, and where it was you meant to travel. None of these will bring disaster.

I lost my mother’s watch. And look! my last, or next-to-last, of three loved houses went.
The art of losing isn’t hard to master.

I lost two cities, lovely ones. And, vaster, some realms I owned, two rivers, a continent. I miss them, but it wasn’t a disaster.

— Even losing you (the joking voice, a gesture I love) I shan’t have lied. It’s evident the art of losing’s not too hard to master though it may look like (Write it!) like disaster.

We made (once again) the cut: INAC Global featured in the Hunt Scanlon Global 40 Ranking

Posted on May 8, 2023May 24, 2023 by Joana Botelho de Sousa

Congratulations are in order for INAC Global and all its members!

Recently released, the new Hunt Scanlon Global 40 edition, has once more recognized INAC Global as one of the top executive search players worldwide.

This recognition is a direct result of an independent research conducted by the renowned Executive Search international directory Hunt Scanlon.

According to Rui Borges, President of INAC Global, “the continued support, commitment and dedication of our members have truly been a key factor in the network’s evolution. Year after year, we do our very best to thrive and to accommodate today’s challenges, turning them into milestones and achievements. We know that Executive Search is an ever evolving market and it’s imperative that we stay, not only up to date, but also innovate and be leaders within it. Nothing makes us more proud than being able to do what we do best and to provide top service at all time. At INAC Global we believe in going for that extra mile, in going out of our way to best serve our Clients, Colleagues and Partners. It’s a collective effort that makes us stronger and unique at what we do. This recognition goes out to all the members of our network, to whom we are very grateful to have with us“.

The international directory Hunt Scanlon reviews every year an extensive list of global recruiting providers that ultimately present the top 40 global talent providers that dominate the executive search business worldwide. The Hunt Scanlon Global 40 list captures the best global search firms who can satisfy the most sensitive recruitment needs.

For more information click here.

To download the ranking table, click here.

INAC Global hosts its 50th annual conference in New York

Posted on May 4, 2023May 24, 2023 by Joana Botelho de Sousa

INAC Global, together with its American partner hosted the network’s 50th annual general assembly in New York, between April 26 and 28, 2023. The New York Hilton Midtown Hotel, right in the heart of Manhattan welcomed all of INAC’s members for a three day event, with a packed agenda and activities.

This is one of the network’s most special events, where partners all over the globe come together to discuss all things executive search related, from business trends to challenges and successes.
And this year was an even more special occasion, as INAC Global welcomed new partners and met some new faces for the very first time. Having new members joining the organization is always exciting and, seeing how they rapidly fit in is even more exceptional.

Like all the previous editions, INAC Global 50th AGA received outside speakers to share their insights, stories, knowledge and experience with the group. It’s a very anticipated segment as it allows members to interact with a person that perhaps they most likely wouldn´t have the chance to, making it an even more special and unique.

Sustainability is on everyone’s mind and it is no different at INAC Global. During the meeting, partners had the chance to welcome a very special guest, Chef Peter Betz, Director of Culinary at the New York Hilton Midtown Hotel who has a very interesting and impactful project – beehives in one of the hotel’s rooftop. Not only is this a way of protecting an endangered species, but also a way of promoting an essential ecosystem crucial for the planet. The production of honey allows the hotel to use it on a daily basis, but also allows it to sell it as a local and sustainable product. The concept of this idea made everyone think of what and how to promote local initiatives in their own markets.

And on the matter of Sustainability, a selected group of INAC Global members worked together in a panel to showcase and talk about how ESG correlates to Executive Search, which caught everyone’s attention and promoted a healthy discussion on what is being done across the network, in local markets and how one can promote it even more and encourage others to do the same.

Working with Boards is a very exclusive and specialized niche in Executive Search. It takes years of experience, an in depth knowledge of the market and industries. With a dedicated panel formed by INAC Global members, who are considered established experts in this area, this was an excellent chance for those who are thinking of exploring this field to learn about the ins and outs.

Client Journey should be considered at all times. Executive Search market can be a very competitive and tricky place and it’s important to stand out from the crowd and to be able to differentiate in the marketplace. This year’s edition tried to emphasize this topic by including it in its agenda, once again, with the insights of INAC Global members who, together in a panel, shared their knowledge and advice.

But it was not all business. INAC Global and INAC USA planned out some special moments, such as dinners. Bobby Van’s was one of the restaurants selected for these occasions ad by the smiles on everyone’s faces, it seems that it was indeed an excellent choice.

This year, INAC Global also awarded some of its members for their contribution and impact within the network.

INAC Colombia was once again the winner of the “INAC Global Business Exchange” award, a recognition given to those who have promoted the most assignments within the network. Santiago Silva, partner of INAC Colombia is an essential figure when it comes to developing business opportunities between the members of the organization and is a true believer in creating synergies that allow all members to grow and develop and, in his own words “INAC Global is more than an organization, it’s a family and, therefore success needs to be shared with everyone”.

INAC Global also decided to recognize a very special member for its dedication and commitment, a driving force within the network who has been essential in delivering projects and connecting members, leaving all borders behind. For that reason, INAC Global awarded Ángeles Madrigal from INAC Mexico with the “INAC Global Outstanding Dedication” trophy. A truly special moment that will be treasured by all.

Rui Borges (President of INAC Global), Santiago Silva (INAC Colombia), Jon Gordon (Board Member of INAC Global)

For Rui Borges, President of INAC Global, “the success of this 50th annual general assembly lies within its members. There is no doubt that we have amazing people amongst us, that make INAC Global a unique and strong network. Being able to meet with everyone in-person, welcoming new faces and reconnecting with old ones is very special. Each year new challenges arise and the executive search market in in constant evolution, it is important for all of us to have a global vision of what is happening not only with ourselves, but with our peers. Together we are able to achieve great things. That’s why these moments are so cherished by all of us. There is a bond that goes beyond he business aspect. We care and route for each other”.

A very special thank you to INAC USA, an incredible host that welcomed and made everyone feel at home and, to all INAC Global partners for joining the INAC Global 50th Annual General Assembly.