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UK faces chairman shortage
Finding an executive with the right qualities to fill the role of chairman is becoming increasingly difficult in the UK, according to a leading financial writer.
Citing regulations, governance and the banking crisis, Richard Northedge has highlighted a noticeable trend in high-profile corporations' recruitment campaigns, which are often unable to fill vacancies in the position of chairman.
Writing for the management opinion provider Bnet.co.uk, Mr Northedge suggested that the dearth of suitable candidates for this position can also be attributed to its relative low pay - particularly when compared to executives in interim positions.
The business journalist also identified corporate governance codes as making life more difficult for head-hunters - with these insisting that boards have a majority of non-executives.
He wrote: "Not all executives have the skills to manage a board instead of a company and not all non-execs can sit on the centre of the table and lead debate rather than question it."
Interim executives often have a varied and diverse skill-set according to InterimCEO/InterimCFO, which could make those with transitional experience suitable for the role of chairman.
Categories: Board & CEO