Latest news with #boardmembership
Argaam
a day ago
- Business
- Argaam
Almarai shareholders elect new board members for new term
Almarai Co. 's shareholders approved to the amendment of Article (17) of the company's bylaws related to the board membership term, during the company's extraordinary general meeting (EGM), held on June 26, according to a statement to Tadawul. Shareholders also elected new board members for the four-year term starting August 7, 2025, including Prince Naif Al Kabeer, Suliman Al Muhaideb, Bader bin Abdullah, and Prince Saud Al Kabeer among others.
Forbes
07-05-2025
- Business
- Forbes
7 Qualities To Bring As You Transition From Executive To Board Member
By C200 Member Bridget Ross Drawing upon your leadership experience, you can bring invaluable strategic value to the board. Lalena Kennedy via Canva Transitioning from an executive leadership role to a board member is both rewarding and challenging. As an executive, you're deeply involved in the daily operations, making decisions that directly impact the company's immediate outcomes. But as a board member, your role shifts to high-level strategic oversight, governance, and long-term planning. This requires stepping back, taking a broader perspective, and guiding the organization's direction without getting mired in the day-to-day execution. Drawing upon your leadership experience, you can bring invaluable strategic value to the board. Your expertise in setting direction, managing teams, and executing strategies equips you to offer insights that will inform long-term planning and high-level decision-making. Moreover, your experience in risk management allows you to help identify and mitigate potential issues, ensuring the company stays on course. By offering operational insights, you can give the board a deeper understanding of the company's strengths, weaknesses, and opportunities—ultimately shaping its future direction from a strategic viewpoint. As you transition into the role of a board member, recognize the qualities that will help you to contribute meaningfully to the organization. While your leadership experience provides a strong foundation, the most effective board members possess a specific set of traits that guide organizations through strategic challenges and long-term growth. These qualities promote the board's success in overseeing the company's vision and mission, while also supporting the executive team in navigating opportunities and risks. Strategic thinking is an important quality for any board member. Effective board members focus on the bigger picture—viewing the company's goals from a long-term, high-level perspective rather than getting caught up in the day-to-day operations. This forward-thinking approach steers the organization through both challenges and growth opportunities. Whether the board is navigating market shifts, evolving technology, or a global crisis, strategic thinking allows members to make decisions that position the company for success in the future, not just today. 2. Financial Acumen Every board member contributes something valuable, but financial literacy is fundamental to offering meaningful input in the boardroom. While not every board member needs to be a financial expert, a solid understanding of financial statements, key performance indicators (KPIs), and the overall financial health of the company is necessary for effective governance. Board members must be able to assess financial risks, evaluate investment decisions, and ensure the company's financial strategies align with its long-term goals. Even if you're not a part of the audit committee, understanding the company's financials—especially when signing off on financial reports—is needed to make informed, impactful decisions. 3. Ethical Judgment and Integrity Effective governance hinges on strong ethical judgment and integrity. Board members must uphold high ethical standards, ensuring transparency and accountability in decision-making. This includes recognizing and addressing potential conflicts of interest to protect the company's best interests. Trust is also necessary—board members must build trust with fellow directors, the CEO, and stakeholders to develop collaboration and effective decision-making. By committing to ethical standards, board members guide the company toward sustainable success while protecting its reputation. 4. Passion for the Organization's Mission Great board members go beyond just advising—they become fully invested in the company's mission and vision. They approach the role with a mindset of "us', believing in the company's goals and contributing to its success as if it were their own. During my early days as a board member, I remember the moment I instinctively said 'we' instead of 'you.' It was a small shift, but it was powerful. It took me from being an outsider to being personally connected to the company's mission. This feeling of ownership is what drives effective board members to actively support the company's growth, not just in words, but in action. 5. Emotional Intelligence (EQ) While board members are often viewed primarily as strategic decision-makers, emotional intelligence (EQ) is an equally important quality for success in the boardroom. The ability to understand and manage emotions—both your own as well as those of others—is often overlooked in high-level discussions, yet it plays an important role in navigating group dynamics. High EQ enables board members to manage interpersonal relationships effectively, read the room, and recognize emotional cues that might otherwise be missed. When tensions arise, emotionally intelligent board members can help de-escalate conflicts, encourage constructive conversations, and ensure that decisions are made with empathy and understanding. Whether it's managing the aftermath of a disagreement or facilitating collaboration across diverse stakeholders, EQ keeps communication flowing smoothly and builds consensus. A Historical Example: Volkswagen Emissions Scandal An example of EQ in action is seen in the way Volkswagen's board managed the fallout from the 2015 emissions scandal. The company had been caught using software to cheat on emissions tests, leading to widespread public outrage, legal action, and severe damage to its reputation. The board had to balance the fallout from the scandal with the emotional reactions of employees, customers, regulators, and other stakeholders. The board demonstrated high emotional intelligence by acknowledging their mistake, admitting fault, and taking full accountability for the situation. Rather than deflecting blame, they communicated transparently and worked hard to regain trust by showing empathy for those affected by the scandal. The emotional impact on the company's employees was significant, and the board responded with sensitivity, offering reassurance and providing a clear path for corrective action. By using EQ, the board was able to keep the organization focused on recovery, showing accountability, implementing necessary changes, and fostering an environment of transparency. This emotionally intelligent approach helped rebuild trust with customers and stakeholders, guiding Volkswagen toward a more sustainable and ethical future. 6. Curiosity and Willingness to Challenge the Status Quo An effective board member is not just there to reinforce existing strategies—they challenge assumptions, ask tough questions, and stay open to new ideas. This willingness to question the status quo may be uncomfortable at times, but it's essential for keeping the company innovative and agile. Curiosity is key—extending beyond the bottom line to understand the people within the organization. Board members must stay engaged with leadership, support the development of a strong leadership bench, and ensure the right people are in place to navigate future challenges. A curious mindset drives board members to challenge existing thinking to adapt to shifts in the market, technology, and consumer behavior. 7. Resilience Boards inevitably face challenges—whether from market disruptions, regulatory changes, or internal conflicts. Resilient board members provide the calm, steady leadership necessary to guide the organization to prepare for turbulent times. Drawing from your own experiences of overcoming setbacks, you can help the executive team navigate crises with confidence, offering valuable perspective during periods of uncertainty. Building resilience throughout your career equips you with the ability to manage pressure and make tough decisions swiftly. Sharing this experience with your fellow board members helps to create flexible thinking so challenges are addressed head-on. By offering insights on overcoming challenges, you help ensure the company remains focused on its long-term goals, even in the face of adversity. Embracing the Role of Board Member with Confidence The transition from an executive role to a board member requires a shift in perspective—bringing strategic insights, leadership experience, and other important qualities to the table. Traits such as strategic thinking, financial understanding, emotional intelligence, and resilience will help guide the organization and support its leadership through challenges. Your experience, combined with these qualities, allows you to contribute meaningfully and help the organization succeed—whether through asking tough questions, offering support, or making sound decisions. C200 member Bridget Ross is an accomplished MedTech executive with expertise in innovation and market creation. She currently serves as a Board Director and Chair of the Nominating and Corporate Governance Committee for LeMaitre Vascular Inc. (NASDAQ: LMAT), and as CEO and Board Director of ChroniSense Medical (now Polso), a digital health company transforming remote patient care and advancing clinical research. She has mentored numerous CEOs through the IGNITE Accelerator and the Canadian Technology Accelerator in Boston. Previously, she had a successful career at Johnson & Johnson, guiding innovations from R&D to market.
