This is the portal for the Corporate Boardbound program. Materials for the 2022-23 program begin on this page. This information is for Corporate Boardbound participants only.

Corporate Boardbound Workshop—October 13, 2022

Summary

Come to October workshop prepared to:

• Understand the expectations of Corporate Boardbound program

• Get to know other members of your cohort and establish a supportive collaborative learning culture.

• Share your thoughts in breakout sessions

  • Introduce yourself with your industry background, functional expertise, and stage of company which is your best fit.  Also, be prepared to share reflections from the Board Readiness Audit in your homework.

  • Discuss how your strengths match the skills boards are seeking.  Be prepared to share your homework conclusions for Financial Awareness Evaluation and Skills Match with Board Requirements.

• Engage with the speakers on the topic of board governance responsibilities.  Hopefully, your pre-reading will be helpful for this discussion.

Preparation

Basic Pre-Reading

• View presentation “Orientation to Corporate Boardbound” prepared by Kate Frazier and Bill Heck. This is designed to help you understand the expectations for your participation and preparation, and resources to support you. Or you can watch the recording.

• “Duties of Board Directors” compiled by Bill Heck. This is a quick read of the basics.

• “Future of the American Board Report” by NACD.

• Read pages 15-24 of Be Board Ready by Betsy Atkins which covers how to brand yourself.

• “How to Prepare Yourself for Corporate Board Service” by Catalyst.

• “Why—and How—to Articulate Your Value Proposition” blog by Tissa Richards

Optional Reading Materials

• “Women on Colorado Boards: State of the State” prepared by Boardbound by Women’s Leadership Foundation with data as of December 31, 2021.

• “Primer on Boards” for basic descriptions of types of boards.

• “Legal Considerations when Serving on a Board of Directors” by Regina Rodriguez when she was previously at WilmerHale. Regina is a Corporate Boardbound alumna who is now Judge at US District Court for the District of Colorado.

• Familiarize yourself with relevant sources in the Resource Library.

Homework

• Board Readiness Audit—Please fill out before the workshop and reflect on any areas where you feel you need development.

• Financial Awareness Evaluation—please review this summary of financial basics and evaluate your current level of financial acumen. Do you need to pursue any development in this area? If so, some resources are identified. Readings referenced in this document can be found in Resource Library. If you have a Finance background, read the SEC Financial Expert definition in the Resource Library to determine if you qualify..

• Skills Match with Board Requirements—please fill out before the workshop and be prepared to discuss in a breakout session.

• Mentor Meetings—One of participant’s responsibilities is to proactively calendar your meetings with your mentor at least quarterly. The attached mentor guide gives some ideas of what your mentor may want to cover in these sessions but both of you can shape your discussions to meet your needs.

Agenda

Learning Objectives:

1. Understand the expectations and norms of the Corporate Boardbound program

2. Understand basic responsibilities of a corporate board director vs. management role

3. Identify current board trends and understand how to relate your skills to those boards are seeking

4. Begin the process of developing your portfolio of tools which will include your Value Proposition, Board Bio, Board Resume and LinkedIn Profile

Welcome and Purpose begins at 4:30pm

Opening | Annita Menogan

Getting to Know Each Other / Board Readiness | Breakout Session

Governance

Board Governance 101 | Bill Heck and Annita Menogan Here’s the link to the presentation.

Break

Board Journey

Board Trends | Jo Lynne Whiting Here’s a link to the presentation.

Skill Match with Board Requirements | Breakout Session

Your Board Documents | Kay Tierney

Thanks and Closing

Next Meeting| Kate Frazier

Survey| All

Adjourn at 7:30 pm

Corporate Boardbound Workshop—November 17, 2022

Pre-Reading

Basic Pre-Reading

• “Three Blunt Reasons Most People Don’t Get a Board Seat” by Adam J. Epstein.

• “7 Steps to Create a Killer Board CV” by Mark Pfister.

• “The No. 1 Way to Get Attention on LinkedIn” by Robert Hellmann.

• “Tips for LinkedIn Summary” from LinkedIn

• “Why--And How—to Articulate Your Value Proposition” by Tissa Richards

Optional Pre-Reading

• “Potential Resources for Bios, Resumes, LinkedIn Profiles and Value Stories” compiled by referrals to the Women’s Leadership Foundation.

• You may want to review the board documents of a few of the Corporate Boardbound participants who were subsequently successful in joining corporate boards.

  • Lisa Zuniga Ramirez—Lisa shared her “Corporate Boardbound Alumna Journey” at the September Graduation and Launch. Here is a link to the documents she used before she joined the boards of Peoples Financial Services Corporation (NASDAQ: PFIS) and Trust for Professional Managers (ETF:CLSE) and Bow River Capital Advisory Board.

  • Elaine Dorward King—Here is a link to Elaine’s resume before she joined Kenmare Resources (FTSE: KMR) and Great Lakes Dredge & Dock (NASDAQ: GLDD) and Bond Resources (CME: BJB) and Sibanye-Stillwater (NYSE: SBSW) and Nova Gold (NYSE: NG) boards.

  • Lisa Neal Graves—Here is a link to Lisa’s combined bio/resume before she joined Coherent (NASDAQ: COHR) board.

  • Patricia Mishic O’Brien—Here is a link to Patty’s resume before she joined AECI Limited (JFE:AFE) and 5E Advanced Materials (NASDAQ:FEAM) boards. Here is a link to her updated resume after she joined AECI board.

• “Constructing a Bio” by Bill Heck

• See the Library Resources for Board Journey for additional resources.

Homework Exercises

Download your Search Strategy Plan. This is your personal document that you will work on during the Corporate Boardbound Program. Your milestone is to have it completed by June 15, 2023. By the November session, please fill out the beginning portion up to and inclucing your elevator speech. Some of the questions about your skills and your targets for industries, company size and committees will help you frame your board bio and resume.

By October 28th, submit your Board Bio and Resume to boardbound@womensleadershipfoundation.org.

• “Tips for Deveoping Your Value Proposition, Bio and Resume”

• You may want to use this Bio Template to get started but remember to be sure that your personality comes through. Kay Tierney mentioned Charity Huff as an example for her voice coming through in her bio and resume.

On November 17th, be prepared to screen share your Bio, Resume and LinkedIn Profile during the workshop when you are called upon. Be sure your LinkedIn profile reflects your interest in and value you offer to boards of directors. Be ready to share your value proposition in conversation.

By January 12th, when you have a version you are happy with (and it doesn’t have to be your “final version” since you always have the option to update it), send your Board Bio and Board Resume to boardbound@womensleadershipfoundation.org.  The value of doing this is we will utilize it for our Boardconnect program and it will be posted on our website under “Resources: Corporate Boardbound Participants”.  You will also be invited to enter your profile into the Equilar database which is used by search firms and companies to find board candidates. See more details here.

Agenda

Learning Objectives

1. To receive feedback from facilitator and cohort members on your bio, resume, LinkedIn profile and value story so that you can finalize them as soon as possible and by January 12, 2023.

2. To give constructive and supportive feedback to your cohort participants on their portfolio tools.

Location: Thrive Centennial at 9200 E. Mineral Avenue, Centennial, CO

There will be hybrid backup for those not able to attend in person.

Optional Networking begins at 4:15

Wine and refreshments available

Welcome and Purpose begins at 4:30 pm

Series of Breakout Sessions

Bios | Facilitated by Ann Block, Polly Buster, Kate Frazier and Bill Heck

Resumes | Facilitated by Kate Hyatt, Georgia Phifer, Camille Romero and Jo Lynne Whiting

Value Story | Facilitated by Cheryl Campbell, Jennifer Ramirez, Jeannette Seibly and Sue Williamson

LinkedIn Profiles | Facilitated by Tim Beranek, Laura Gluhanich, Charity Huff and Carly Wendt

Discussion and Sharing Insights | Sue Williamson

Thanks and Closing

Next Meetings Assignments | Kate Frazier

Survey Feedback | All

Corporate Boardbound Workshop—January 12, 2023

Summary

Summary of Homework

• Read pre-reading assignments

• Prepare Avanos Case Study

• Begin Networking Plan

• Submit your Board Bio and Resume by January 12th

• Come to January meeting prepared to discuss your Networking and the Avanos case study

Preparation

Basic Pre-Reading

Read pages 25-37, “Develop Your Network” in the book Be Board Ready by Betsy Atkins.

Due Diligence for your target companies. As you network and identify sectors, industries and, companies you would like to target in your search AND when you are asked to interview, Bill Heck designed this Due Diligence Guide to help you start creating a template you will want to customize for your use.  Remember, you are looking for those elements of the company that attract you the most and elements you will need to focus in on as you create questions to ask during your interview with the Company.

Optional Pre-Reading

For a summary of timely key issues in corporate governance, read “Thoughts for Boards Going into 2023” by Wachtell Lipton. Also, “2023 Governance Outlook” by NACD.

Homework Exercises

Case Study—there will be three case studies during the Corporate Boardbound program. The purpose of the case studies is to give you practice evaluating companies to determine whether you are interested and prepared to join their board. Ideally, you would prepare a case study for each of your top target companies. In preparation for the July workshop, you will select one of three case studies covered in Corporate Boardbound and prepare for a mock interview.

For the January workshop, the case study will be on Avanos Medical (NYSE: AVNS).  The emphasis in this case study is a financial analysis of the company. How would investor analysts evaluate the company’s strengths and weaknesses? What are the company’s main financial challenges?

Avanos Medical, Inc. operates as a medical technology company. It focuses on delivering clinically medical device solutions to improve patients' quality of life. The firm’s portfolio of product offerings focuses on respiratory and digestive health, along with surgical and interventional pain management to improve patient outcomes and reduce the cost of care. Its brands include ON-Q, Coolife, Microcuff, MIC-Key, Quilbloc and Home pump. The company was founded on February 25, 2014, and is headquartered in Alpharetta, GA.

$1.25b market cap            with 4,555 employees and $745M annual revenue                          

Board Composition 1-CEO; 3-Ret CEO, Medical Product; 1-Ret CEO, Hospital Services; 1-Ret CFO

2 women – 4 men board of directors

These resources from Value Line and Reuters may be helpful to you, as well as the company’s 10Q filing. You may also be interested in their proxy. Another good way to learn about a company is to listen to their Quarterly Investors Call.

Please be prepared to discuss in a breakout discussion these types of questions:

·        Income Statement—are they making money?  Is there attractive growth of both the top line and the bottom line?  Are there any concerns?

·        Balance Sheet—what do they have?  Are their assets more than their liabilities?

·        Cash Flow—are they generating the cash they need to sustain their strategy?  Is Operating Cash Flow healthy and growing?  Is the Net Cash for Investing and Financing activities reasonable given their strategy?

·        Ratio Analysis

o   Can they cover their debt comfortably?

o   Is their stock price considered a value given their earnings and expected growth in earnings?

o   Are their returns attractive to investors?

·        Identify some key challenges or opportunities they are experiencing operationally or in the board room that you can support them in?

• What value and experience could you bring to this board? How do your credentials fit with the mix of the other board directors?

Networking Plan—name at least 5 people you want to be in contact with in the next quarter. Be prepared to share your networking approach at the first breakout session. You can download the attached Touch Base Tracker Excel document to keep track of your Routine Regulars, Occasional Acquaintances and Potential Prospects. Feel free to use this tool or your own method of organizing your contacts and follow up.

By January 12th, submit your Board Bio and Resume at boardbound@womensleadershipfoundation.org. The value of doing this is we will utilize it for our Boardconnect program and it will be posted on our website under “Resources: Corporate Boardbound Participants”.  You will also be invited to enter your profile into the Equilar database which is used by search firms and companies to find board candidates. See more details of other ways you can post your profile for board opportunities here.

Optional

Search Strategy Plan (downloadable)—this is your personal document that you will work on during the Corporate Boardbound Program. Your milestone is to have it completed by June 15, 2022. You could fill out the portions through your networking plan if you like or you can work on the Search Strategy Plan later in the program.

Read the SEC Financial Expert definition which is relevant to Audit Committees.

Agenda

Learning Objectives

1. To feel confident that you can financially evaluate companies and conduct due diligence to evaluate whether you are interested in serving on their board and, if so, prepare for an interview.

2. To deepen your networking with board directors and influencers who can give you guidance and hopefully connect you with appropriate board opportunities.

Location: First Western Trust, 1900 16th Street, Suite 1200, Downtown Denver

For those needing remote access, here is the Zoom link.

Optional Networking begins at 4:15

Wine and Appetizers available

Opening begins at 4:30 pm

Welcome and Purpose | Mary McBride

Breakout Session: Networking

Financial Acumen

Financial Acumen | Polly Buster and Julie Courkamp See Presentation shared here.

Discussion and Sharing Insights | Mary McBride

Breakout Session: Case Study for Avanos

Thanks and Closing

Next Meetings Assignments | Kate Frazier

Closing and Survey Feedback | Sue Williamson

Corporate Boardbound Workshop—February 9, 2023

Summary

Summary of Homework

• Read articles regarding regarding Human Capital from the perspective of the whole board and of the Compensation Committee.

• Develop list of your target companies.

• Prepare Otter Tail Corporation case study.

• Come to February meeting prepared to discuss your target companies and the case study.

Preparation

Basic Pre-Reading

• “2023 Governance Outlook” by NACD who has kindly provided on a complimentary basis to non-members. Pages 8-13 “The Board’s Role as Stewards of Human Capital” are especially relevant to this workshop discussion.

• “Human Capital: Key Findings from a Survey of Public Company Directors”, Harvard Law School Forum on Corporate Governance, posted by Stephen Klemash, Jennifer Lee, and Jamie Smith, EY Center for Board Matters, on May 24, 2020.

• The Compensation Committee is a committee of a company’s Board of Directors which has the primary responsibility of reviewing and approving the compensation of the company’s CEO and other named executive officers. In addition to this responsibility, the committee also oversees the company’s equity plans and reviews and makes recommendations to the Board at large regarding these plans. Both the NYSE and NASDAQ have created requirements for companies which mandate the committee members be “independent.” of management and the company.

  • “Nonfinancial Metrics, Strategy, and Culture” by NACD for Audit Committee Chair and Compensation Committee Chair Advisory Councils.

  • “How the Best Boards Approach CEO Succession Planning” by Harvard Law School Forum on Corporate Governance, September 2021.

  • “Diversity, Equity, and Inclusion: One Year Later” by Deloitte, December 2021.

Optional Pre-Reading

• Familiarize yourselves with Deloitte’s resources for Board Governance. You may be especially interested in “2023 Global Human Trends” by Deloitte.

• “The Expanded Role of the Compensation Committee” by Harvard Law School Forum on Corporate Governance, August 3, 2022.

• Read excerpts from Be Board Ready by Betsy Atkins: “Be a Good Board Member”, pages 45-53 and Culture, pages 135-142 and 94-97

• “Employee Engagement: The Next Fontier of Compensation Performance Goals”, by Robin Melman at Baker Botts, April 15, 2021.

• “Compensation Committee Priorities for 2023”, Directors and Boards.

Homework Exercises

Target Companies—name at least 5 target companies to explore for your potential board position along with your value propositon for each company. Your next board opportunity may be an opportunistic one from your network. However, clarifying your thinking about specific companies you are a good match for can sharpen your networking and preparation for board opportunities. You can use the portion of the Search Strategy Plan (downloadable) dealing with target companies. Be prepared to share your target companies in the first breakout session. You never know when a cohort member may have a valuable connection to the company you are targeting.

Case Study—there will be three case studies during the Corporate Boardbound program. The purpose of the case studies is to give you practice evaluating companies to determine whether you are interested and prepared to join their board. Ideally, you would prepare a case study for each of your top target companies. In preparation for the July workshop, you will select one of three case studies covered in Corporate Boardbound and prepare for a mock interview.

For the February workshop, the case study will be on Otter Tail Corp. (NDQ: OTTR).  Otter Tail is a holding company engaged in the energy, infrastructure, and production businesses. It operates through the following segments: Electric, Manufacturing, and Plastics. The Electric segment is involved in the generation, purchase, transmission, distribution, and sale of electric energy in western Minnesota, eastern North Dakota, and northeastern South Dakota. The Manufacturing segment consists of businesses in the manufacturing arena, including contract machining, metal parts stamping, fabrication, and painting, and the production of plastic thermoformed horticultural containers, life science and industrial packaging, material handling components, and extruded raw material stock. The Plastics segment offers businesses that produce polyvinyl chloride pipes at plants in North Dakota and Arizona. The company was founded in 1907 and is headquartered in Fergus Falls, MN.

Let’s set up a role play for this case study. You have had an initial phone interview with Karen Bohn who chairs the Governance Committee. You are now invited to a second interview.

These resources from Value Line and Reuters may be helpful to you, as well as the company’s proxy.

Please be prepared to respond to the Nominating and Governance chair’s questions which could cover a wide range regarding the company’s strategy, competitive position, risks and the specific value you would bring to this board. One interest is whether you think the company’s CEO compensation plan is fair and would attract a new CEO when succession is needed.    

Your Profile on Director Databases—Hopefully, you have submitted your Board Bio and Resume to boardbound@womensleadershipfoundation.org. The value of doing this is we will utilize it for our Boardconnect program and it will be posted on our website under “Resources: Corporate Boardbound Participants”.  Now, it is time to get word out that you are ready for board opporunities. We have compliled a list of great places to post your profile for board opportunities here.

Agenda

Learning Objectives

1. To understand the board’s role in ensuring strong Human Capital to execute a winning strategy.

2. To understand the responsibilities of the Compensation Committee and best practices of CEO succession.

3. To feel confident that you can evaluate companies and conduct due diligence to evaluate whether you are interested in serving on their board and, if so, prepare for an interview.

4. To clarify your best match for board opportunities by developing your list of target companies.

Location: Zoom Here is the link to the video of the session.

Opening begins at 4:30 pm

Welcome and Purpose | Karen Hyde

Sharing Target Companies | Breakout Session

Board’s Role re Human Capital

CEO Leader, Compensation, Culture | Deloitte with Abby Dunleavy and Lauren Choate

Discussion and Sharing Insights | All

Break

Board Journey

Otter Tail Corporation Case Study | Breakout Session

Debrief and Summary | Kate Frazier and Sue Williamson

Thanks and Closing

Breakout Facilitator #1—Sue Williamson

Breakout Facilitator #2—Jo Lynne Whiting & Bill Heck

Breakout Facilitator #3—Polly Buster

Breakout Facilitator #4—Kate Frazier & Karen Hyde

Breakout Facilitator #5—Georgia Phifer

Breakout Facilitator #6—Gloria Zamora

Corporate Boardbound Workshop—March 16, 2023

Summary

Summary of Homework

• Read the pre-reading to learn about the unique opportunities and challenges of serving on start up boards and public company boards.

• Develop a story from your experience that illustrates the value you add to a company’s success.

• Come to March meeting prepared to:

  • share your story in the breakout session

  • ask any questions you have about

    • serving on start-up and private company boards

    • serving on public company boards with emphasis on enterprise risk management

  • be prepared to sponstaneously role play your responses to different scenarios you could face as a board director

Preparation

Basic Pre-Reading

• “Start Up Boards: A Field Guide to Building and Leading an Effective Board of Directors” by Brad Feld, Matt Blumberg and Mahendra Ramsinghani. This is the book you received in January. The whole book is very useful but Section 6 “For Independent Directors and Aspiring Board Members” (pages 192-214) are especially germane to the Corporate Boardbound program.

  • We are excited to have Matt Blumberg, co-author of the book, join our workshop. He has generously shared his e-book “How to Succeed in Your First Board Role”. Some of the material is in the hard copy book but there is elaboration especially relevant for aspiring board directors.

• Amy Rojik will be covering the differentiated responsibilities of public company boards.

  • BDO Center for Corporate Governance includes good reference material.

    • “Enterprise Risk Management for Today’s Board Directors” is a relevant podcast.

    • “Audit Committee Priorities” often have expanded responsibilities for cyber risk and ESG risk.

• “The risk paragraph in the management board’s report” by Deloitte provides real-life examples of risk reports to boards of directors.

Optional Pre-Reading

Do not feel you need to read all of this material. Just peruse these resources to see if any are of special interest—or refer back to them if you confront one of these issues as a board director.

• If you are pursuing small cap or start-up company boards, you will be faced with more emphasis on fundraising and structuring deals that are attractive to investors but do not unduly give away equity and control. A good reference for these challenges is the book “The Perfect Corproate Board: A Handbook for Mastering the unique Challenges of Small-Cap Compnaies” by Adam J. Epstein.

• Small Company—Board’s Role in Sales Oversight by Margot Carter.

• Director’s Guidebook: How to be an Effective Board Director in Early Stage Companies by Hambleton Lord and Christopher Mirabile.

• “2021 BDO Middle Market CFO Outlook Survey” by BDO

• “Startup Boards” by Brad Feld for Kauffman FoundersSchool. Brad Feld explains why and how the board of directors is a formal construct that essentially provides governance for the company.  This is a series of short videos directed to the entrepreneur who is forming a startup board.

• “2021 Study of Gender Diversity on Private Company Boards” by Ann Shepherd. Cites study from Him for Her and Crunchbase which shows women are very underrepresented in Venture Capital backed boards versus public company boards.

• “The Alternate Universe: The small, young company board” by Deloitte’s Center for Board Effectiveness, July 2021.

• “A Differentiated, Practical Methodology for Analyzing Public Company Board Seat Opportunities” by Small-Cap Institute.

• “3 Critical Small-Cap Challenges Awaiting New Board Members That No One Talks About” by Small-Cap Institute.

• Cybersecurity: staying vigilant through prevention, oversight and governance | EY - US (article)

Homework Exercises

• What size company will most prize you? Give thought as to what size company you are targeting and why.

  • Large Cap—greater than $10 B market cap (difficult for first board)

  • Mid Cap--$2B to $10B market cap 

  • Small Cap--$300M to $2B market cap (more hands-on)

  • Micro Cap—less than $300M market cap (more hands-on)

  • Private Board (can be more hands-on depending on the size)

  • Advisory Board (can be good experience)

• Sharing a Story—Think of a story from your experience that illustrates how you added value to a company. Stories are what we remember. Having a few stories that bring alive a situation you handled well and illustrate different points that could come up in an interview will help distinguish you. Be concise but include enough specifics that the listener feels like they are there with you. What happened? Why did it make a difference?

  Plan on sharing one of your stories in our first breakout session.

• Role Playing Board Scenarios—John Kelley, CEO and Corporate Board Director and Corporate Boardbound mentor developed some situations directors face. One way John has helped many people prepare for board positions is to role play scenarios that they may face. Handling these situations on the spot and then debriefing has been a great way to increase confidence and give candidates an edge when many well-qualified people are considered for a board position. You will have an opportunity to role play some of these situations at the workshop.

Optional Homework

• Have you taken advantage of signing up with Bolster yet? Boardbound partners with Bolster so you can be listed in their database for board director candidates. Bolster supports high-growth venture capital and private equity-backed companies, ranging from $2mm to $100mm in revenue and pre-seed to pre-IPO, all looking to get connected to fresh executive talent. Here is the link to sign up. There is also a guide “Anatomy of a Great Profile” you may find useful.

• Director Diversity Initiative is offering a free webinar “PE Portfolio Company Boards” on April 20th from 2 to 3 pm Mountain time.

• If you are interested in preparing to serve on a Private Company Start-Up board, you may want to register for NACD’s “Private Company Governance Learning Series”.

Agenda

Learning Objectives

1. To understand the unique requirements of serving on a start up or small private company board of directors.

2. To understand the additional responsibilities of serving on a public company board with an emphasis on enterprise risk management.

3. To mentally prepare for situations you face as a director by role playing how you would handle different challenges.

Location: Zoom

Informal Networking at 4:15 pm

Opening begins at 4:30 pm

Click here for recording of the workshop.

Welcome and Purpose | Karen Padgett

Sharing Stories that Demonstrate Success | Breakout Session

Small Company Board of Directors

Start Up Boards | Matt Blumberg | Click here for Matt’s Presentation

Serving on a Small Company Board| BDO with Amy Rojik | Click here for Amy’s Notes

Discussion and Sharing Insights | All facilitated by Karen Padgett

Break

Board Journey

Role Play for Board Director Scenarios | Jo Lynne Whiting

Debrief and Summary | Karen Padgett

Thanks and Closing

Next Steps | Sue Williamson

Feedback Survey

Breakout Facilitator #1—Karen Padgett

Breakout Facilitator #2—Mary McBride

Breakout Facilitator #3—Sue Williamson

Breakout Facilitator #4—Jo Lynne Whiting

Breakout Facilitator #5—Polly Buster 

Corporate Boardbound Workshop—April 13, 2023

Summary

Summary of Homework

• Read the pre-reading to deepen your understanding of the responsibilities of board directors.

• Come to April meeting prepared to:

  • share tips from your mentor in a breakout discussion

  • participate in a discussion of the case study WM Technology

Preparation

Basic Pre-Reading

• Read “A Director’s Perspective” which offers tips for boards dealing with activists (pages 125-127) and any other of the short articles that pique your interest in Section 3 of “Be Board Ready” by Betsy Atkins.

• Familiarize yourself with the resources offered by the KPMG Board Leadership Center.

Homework Exercises

• Learnings from Your Mentor—Reflect on your discussions with your mentor since the beginning of the program. Think of one or two tips you especially found helpful to share with your cohort during the first breakout session.

• Case Study – you will have the chance to be involved in three case studies during the Corporate Boardbound program, you have worked on two and the third, is included in this Workshop.

  The objective of the case studies is to provide practice and experience in researching companies you are interested in and/or companies you asked to interview with.  In July of this year, we will provide you an opportunity for a mock interview for a board seat with your choice of the three companies included in the case study exercises. 

  For the April workshop, the case study is WM Technology, Inc. (NASDAQ CM: MAPS).  WM Technology and “WeedMap” is a leading online marketplace for cannabis users and businesses, their mission is to power a transparent and inclusive global cannabis economy. WM has been a driving force behind much of the legislative change we’ve seen in the past 10 years and produced an ad for the 2022 Super Bowl that highlighted advertisement difficulties with cannabis products.

  Please take a wholistic approach to the offer to be considered to join the Board of WM Technology by searching out difficulties inherent in the industry, forecasts for the industry and areas you could add value as both WM Technology and the industry continue to face head winds.

  We provide these resources to get you started, realizing you will need to dig a bit deeper to be ready to participate during the April Workshop:  Form 10-K for 2022 and Proxy, In addition, we include Reuters Outperform and CFRA Strong Sell analysis of the Company.

  For this exercise, you will be joining a group of current board members (including the breakout room facilitator and your fellow Cohort members) who are discussing actions needed to re-position WM Technology’s standing given earnings and stock price decline.  You will be invited to provide your viewpoint, while assuming you willingly accepted the invitation to be interviewed in this manner with WM Technology.

Optional Homework

• Listen to the WM Technology’s Fourth Quarter 2022 Financial Results Conference Call. What impressions did you gain about the company’s prospects and the quality of their management? Listening to the conference calls is a great tool for your due diligence and preparation for board interviews.

• Review Cannabis Industry Reports, such as Grandview Research on “North America Legal Cannabis Market Size”.

• Akerna is an enterprise software company headquartered in Colorado with Jessica Billingsley as their CEO. They serve the cannabis industry by providing compliance, data, payments, seed-to-sale, track-and-trace, and consulting to operators, governments, and brands. They also reported decline in revenue and profits and are selling parts of their business and merging the remainder as announced recently.

Agenda

Learning Objectives

1. To deepen your understanding of board director responsibilities.

2. To feel confident that you can evaluate companies and conduct due diligence to evaluate whether you are interested in serving on their board and, if so, prepare for an interview.

Location:

We hope everyone will be able to join in person. The location is Denver KPMG offices, 1225 17th Street, Denver, CO 80202. However, if you are not able to, remote access is available through Zoom. Please let us know if you are attending by Zoom or unable to participate.

Refreshments and Networking begins at 4:15 pm

Program begins at 4:30 pm (See recording of the workshop here.)

Welcome and Purpose |

Tips From Your Mentor | Breakout Session

Board Governance

Being a Valued Board Director| Stephen Brown from KPMG

Discussion and Sharing Insights | All facilitated

Break

Board Journey

Case Study: WM Technology | All

Debrief and Summary |

Thanks and Closing

Next Steps | Kate Frazier

Breakout Facilitator #1—Polly Buster

Breakout Facilitator #2—Bill Heck

Breakout Facilitator #3—Georgia Phifer

Breakout Facilitator #4—Gloria Zamora

Breakout Facilitator #5—Kate Frazier

Corporate Boardbound Workshop—May 18, 2023

Summary

• The pre-reading and homework is designed to help you:

  • to deepen your understanding of board responsibilities for private companies

  • to conduct a successful search for board positions

  • to prepare for board interviews.

• Come to May meeting prepared to:

  • participate in a discussion of board director’s responsibilities for different phases of private company boards

  • share your thoughts in breakout discussions

    • your search strategy plan

    • your networking progress

Preparation

Basic Pre-Reading

• Familiarize yourself with the resources offered by the EY Center for Board Matters. This site is a rich source of material for you now—and in future board roles. For this session, these articles are especially relevant:

  • Establishing and evolving your board | EY - US

  • Americas board priorities 2023: How to build resiliency in uncertain times | EY - US

  • How to achieve enduring board effectiveness | EY - US

• Prepare for Your Interview. We are grateful to Brenda Snyder for sharing this “General Guidelines Answering Interview Questions”. If you spend an hour reviewing this document, you will be much better prepared for interviews and ready to take advantage of our time with Brenda at the workshop.

• Check out the Corporate Boardbound Resource Library available to you.

Homework Exercises

• In the July workshop, you will have a mock interview by experienced corporate directors for one of the case studies we have covered. Please fill out this form to rank the companies you prefer for your interview.

  • Avanos Medical—medical device company operating internationally

  • Otter Tail Corporation—electric utility, manufacturing, and plastic pipe businesses in the U.S.

  • WM Technology—online marketplace for cannabis users and businesses

• Download your Search Strategy Plan. This is your personal document that is your guide to complete your Corporate Boardbound Program and continue to build your board portfolio over time. Your milestone is to have it completed by June 15, 2023. By the May 18th session, please fill out from the beginning through “Your Networking Plan”.

• Networking Plan—How productive has your networking been? Remember that most board opportunities are gotten upon the recommendation of someone who already knows and respects you. Identify at least 5 people you will connect with this month. You can update the attached Touch Base Tracker Excel document with your Routine Regulars, Occasional Acquaintances and Potential Prospects or feel free to use your own method of organizing your contacts and follow up.

• Submit your Head Shot and Value Statement to Boardbound. This will be used to celebrate your graduation from Corporate Boardbound. Here is an example of how it will be portrayed.

Optional Homework

• Implicit bias operates at an unconscious level to impact opportunities for women and people of color. Most of us do have implicit bias which we need to discover in order to overcome. Please use this link to take two of the tests offered:

  • Gender-Career IAT Test

  • Race IAT Test

  (Press “I wish to proceed” at the bottom of the first screen. Then select the Gender test from the menu on the left of the next screen. Repeat for the Race test.)

Agenda

Learning Objectives

1. To deepen your understanding of board director responsibilities in managing the different phases of private companies.

2. To develop an effective strategy for landing your board position and becoming a valuable board leader.

Location:

For those attending in person, the location is EY office at 370 17th Street, Suite 4800. For those needing remote access, use this Zoom link.

Refreshments and Networking begins at 4:15 pm

Thanks to EY for providing our refreshments.

Program begins at 4:30 pm

Welcome and Purpose | Lori O’Flaherty

Search Strategy Plan | Breakout Session

Board Governance

Private Company Boards | Kris Pederson and Jamie Smith

Discussion and Sharing Insights | All facilitated by Lori O’Flaherty

Break

Board Journey

Preparing for Board Interviews | Brenda Snyder

Search Strategy Plan | Jo Lynne Whiting

Thanks and Closing

Next Steps | Sue Williamson

Survey | Sue Williamson

Breakout Facilitator #1—Kate Frazier (virtual)

Breakout Facilitator #2—Bill Heck

Breakout Facilitator #3—Georgia Phifer

Breakout Facilitator #4—Lori O’Flaherty & Sue Williamson

Corporate Boardbound Workshop—July 13, 2023

Pre-Reading

Basic Preparation

Thanks to John Kelley for “Why Role Play for Interviews”. He shares tips for how to respond to questions.

“Becoming a Non-Executive Director”, SpencerStuart. For this session, pages 29-39 are most germane.

“Make the Most of Your Board Interview” by Emily Green, The Boardlist.

Optional Reading Materials—see Library

“Finding the Right Fit: Assessing First Time Candidates for Non Executive Directors”, SpencerStuart.

You may want to scan all of the resources in the Library to see which ones will be valuable to you for this workshop and going forward.

Homework Exercises

Preparing your Search Strategy Plan —Download this Search Strategy Plan document unless you already have the one you are working on handy. This plan is where you pull together everything you’ve learned through the year and develop your going forward plan. Be clear on what kind of boards you are seeking, work your target list of at least 20 companies you have investigated and believe are a good fit for you. Develop your networking plan and execute upon it, evaluating your progress monthly. Stay open to unexpected opportunities. Have your Board Bio and Board Resume up-to-date and ready to share at a moment’s notice. Practice cover letters for your target companies. Review your plan with your mentor and ask if they are willing to stay in touch if there are particular junctures where you could use their insights and coaching.

Be sure our website has your updated board bio and resume because this is what will be shared with your interviewer.

Share your Selected Case Study Cover Letter by June 28th—for the company you will interview with in our July workshop. Write a letter explaining why you are interested in their company and how you would meet their specific needs. You want to make it easy for them to see the connection between your background and expertise and what their company needs to thrive. Send to jolynne@womensleadershipfoundation.org by June 30th so we can share it along with your bio and resume with the corporate director who will conduct your mock interview at the July Workshop. Here is an example of the cover letter which Tracey Campbell customized to the needs of Avanos conveying her knowledge and interest in the company and how her qualifications fit. If you missed the deadline, you can still send your cover letter to Jo Lynne who will share it with your interviewer.

WM Technology (MAPS)—Christinne Johnson, Elisa Young, Missy Devillez, Ginger Susman, Heidi Cooley, Julie Goodrum, Camila Tobon, Karri Callahan, Deon MacMillan, Lisa Prassack

WM Technology Morningstar Report

Avanos (AVNS)—Julie Taylor, Tracey Campbell, Mary Beth Loesch, Dianne Scott, Maggie Biggs, Maria Sepulveda, Elizabeth Suarez, Tara Dunn, Melanie Margolin, Beverly Razon, Benny Samuels

Avanos Value Line

Otter Tail (OTTR) —Kendall Carbone, Dena Lund, Cecelia Espenoza, Pamela Bunz, Melissa Rosas, Gloria Neal

Otter Tail Value Line

Listen to the Earnings Conference Call of your selected case study. This is your chance to hear directly from the company’s CEO and CFO. It is insightful to see how they respond to the investors’ questions—are they straightforward or evasive? It is a great way to prepare for an interview because you get an overview of the financials and hear the hot issues, as well as get a feel for the culture of the company.

Prepare for Your Interview. We are grateful to Brenda Snyder for sharing this “General Guidelines Answering Interview Questions”. If you spend an hour reviewing this document, you will be much better prepared for your interview.

Preparing your slide for the graduation event by July 13, 2023—Write a brief, crisp statement that we will project with your photo at the graduation event in September. Here is an example:

• Elizabeth Park: Software founder/CEO who helps companies scale rapidly, navigate funding or valuation events, and mentor founding teams

If you haven’t already done so, please send Jo Lynne Whiting your value statement and headshot photo. If you don’t send a photo, we will use the photo in your LinkedIn profile.

Agenda

Location: Thrive Workplace, 9200 East Mineral Avenue, Centennial, Colorado

Remote access via Zoom if prearranged.

Networking and Refreshments at 4:15

Welcome and Purpose begins at 4:30

Opening | Gloria Zamora

Mock Interviews from 4:55 to 6:15

Avanos | Conducted by Guest Directors Michael Fordyce and Sylvia Young

WM Technology | Conducted by Guest Directors Jessica Billingsley and Joe Zell

Otter Tail Corporation | Conducted by Guest Director Katherine Minyard

Feedback from Guest Directors | Facilitated by Gloria Zamora

Break

Reflections on Boardbound Journey

Overview of Program Components | Jo Lynne Whiting

Reflections from Participants | All facilitated by Gloria Zamora

Going Forward | Corporate Boardbound Team facilitated by Kate Frazier

Thanks and Closing

Graduation & Launch Event | Sue Williamson

Welcome to Alumnae Program |

Closing & Year-End Survey | Sue Williamson

We are very appreciative of our guest board directors and workshop facilitators who are generously giving of their time. Facilitators for this session are Polly Buster, Kate Frazier, Bill Heck, Jo Lynne Whiting, Sue Williamson and Gloria Zamora.

Finance

NACD’s Director’s Handbook Series, “Getting Behind the Numbers:  Board Oversight of Financial Reporting”, 2019 Edition, by John C. Fletcher.

NACD 2020 Governance Outlook, “Projections on Emerging Board Matters”, NACD and Partners Baker Tilly, Broadridge Financial Solutions, Ceres, Deloitte, Grant Thornton, Spencer Stuart, Well, Gotshal & Manges.  Chapter Excerpt: “Governing Through Regulatory Change:  A Focus on Financial reporting, Accounting, Auditing, and Related Governance Matters” by Jennifer Burns, Maureen Bujno, and Andrew Hubacker, Deloitte & Touche LLP.

Basics of Financial Acumen prepared by Mary McBride. Understanding Net Income, Balance Sheet and Cash Flow reports is a basic all board directors need.

Here’s the definitiion of a SEC Financial Expert.

One way to learn Accounting is to take advantage of the free courses in Khan Academy.

Board Journey

NACD Podcast: Future Trends #43: “What Today Can Teach Us About the Future” Over the last two years multiple megatrends have impacted boardrooms simultaneously. Mike Lubrano, Judy Samuelson, Ram Charan, and Stilpon Nestor discuss how assessing our present environment can give us insight into the future of corporate governance.

Board Monitor US 2022 by Heidrick & Struggles. This report shares the characteristics of Fortune 500 newly appointed directors. Understanding what board trends can help you match your qualifications to board’s requirements.

“Three Blunt Reasons Most People Don’t Get a Board Seat” by Adam J. Epstein.

“Workshop Portfolio Tools” covers the development of your Value Proposition/Elevator Speech, Board Bio and Board Resume.

“Sample Board Resume” by Carol Coughlin. Once you have corporate board experience, you will want to lead with that before your executive experience. However, it is perfectly fine to lead with your executive experience and follow with your non-profit board experience if your executive experience is the most impressive.

“Potential Resources for Bios, Resumes, LinkedIn Profiles and Value Stories”—compliled from resources recommended to Women’s Leadership Foundation

“Why—and How—to Articulate Your Value Proposition” blog by Tissa Richards

“Becoming a Non-Executive Director”, SpencerStuart

“Are you Ready to Serve on a Board?” by Anthony Heskety, Jo Sellwood-Taylor and Sharon Mullen, Harvard Business Review, January 31, 2020.

“How to obtain your first corporate board seat” by Taylor Simonton.

“The No. 1 Way to Get Attention on LinkedIn” by Robert Hellmann.

“Tips for LinkedIn Summary” from LinkedIn

“7 Steps to Create a Killer Board CV” by Mark Pfister.

“You are on Your Way” gives succinct advice inclucing emphasis on networking.

“Journey to the Boardroom: Networking & “What goes around comes around”” by Karen Cone.

“Due Diligence Guide for Reviewing Potential Company Targets” by Bill Heck.

“KPMG Directors Quarterly”, October 2020

“Look beyond Titles when Recruiting Directors” by Deloitte Center for Board Effectiveness

“Tips on Researching Privately Held or Family Held Companies” compiled by Bill Heck.

“Never Ovelook These 7 Classic Job Interview Questions” by Korn Ferry. While not written specifically for board interviews, still helpful.

“General Guidelines for Answering Interview Questions” by Brenda Snyder.

“Interviewing and Onboarding Webinar” by Him for Her with Rita Johnson Mills and Rebecca McIntire.

 “A Differentiated, Practical Methodology for Analyzing Public Company Board Seat Opportunities (public)”, Small Cap Institute.

Ways to get the word out that you are qualified for board opportunities by posting your profile on these sites working to recommend women board candidates.

“The New Director Journey: 3 Ways to Integrate Successfully onto a Corporate Board”, by Laryssa Topolnytsky, PhD.

“How to Become a Welcomed Director: The First Three Months” by Lynn Clark

“A Few Good Women: Gender Inclusion in Public Company Board Leadership” by Diligent Institute. Once you are on a board, will you be prepared to chair a committee and with time chair the board? We need more women as leaders in board governance.

“What Makes a Good Board Member” by Margaret Steen, from Boards and Directors.

Status of Women on Boards

Women on Colorado Boards: State of the State is a census report of Colorado public companies. Check out the progress made in the last decade and the challenges remaining to achieve gender balance.

2022 U.S. Spencer Stuart Board Index shows promising progress for women and racially/ethnically diverse people being selected as new directors on S&P 500 boards. See the stats on average age, tenure and background.

Missing Pieces Report by Deloitte and the Alliance for Board Diversity shows the breakdown on boards by gender and ethnic classification. An analysis of the data shows that women of color, especially Latinas, are the least represented group.

“Women Leading Boards”, Women Board Collaborative Special Report in Collaboration with 50/50 Women on Boards

“The State of Board Gender Diversity”, KPMG

“Poised for Change? Boardroom Diversity Survey”, KPMG

“Asian Representation on Fortune 1000 Boards”, KPMG

Latinas are one of the least represented groups on corporate boards.

• “Latino Representation on Fortune 1000 Boards”, KPMG and Latino Corporate Directors Association study

• “Latino Board Tracker”, Latino Corporate Directors Association

Are there special challenges for women board directors? How can you ensure you have equal voice and board leadership opportunities? Why do you think fewer than 10% of Board Chairs are women? How can you make sure your board and company have an inclusive culture? Here are some resources:

• “Stop Telling Women They Have Imposter Syndrome” by Harvard Business Review.

• “A Few Good Women: Gender Inclusion in Public Company Board Leadership” by Diligent Institute. Once you are on a board, will you be prepared to chair a committee and with time chair the board? We need more women as leaders in board governance.

“Diversity in the Boardroom: Pushing Forward, Reaching Back” by Women’s Corporate Directors and KPMG (regarding how boards and company can achieve the strategic value of diversity).

“2021 Study of Gender Diversity on Private Company Boards” by Ann Shepherd in collaboration with Him for Her and Crunchbase, March 29, 2022. Women are more scarce on private company boards.