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The FWSIM CIO Executive Leadership Summit The Transformational CIO: Winning in a Globally Competitive Marketplace October 25, 2010 From Tech Leader to Board Director Harriet Edelman
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The FWSIM CIO Executive Leadership Summit The Transformational CIO: Winning in a Globally Competitive Marketplace October 25, 2010 Personal Board HistoryPersonal Board History –Started with non-profit organizations –Public Company Board Service $500 million direct marketerrecruited $5 billion CPG companyrecruited $4 billion hospitality industry recruited $400 million I.T. business network –Currently: 2 public and 3 non-profit Boards
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The FWSIM CIO Executive Leadership Summit The Transformational CIO: Winning in a Globally Competitive Marketplace October 25, 2010 Attraction to Board ServiceAttraction to Board Service –Deep involvement in business and shareholder-level strategy –Exposure to other industries, business models –Long-term, enterprise-level discussions –Fresh mind, fresh challenges –C-level leadership and talent –Colleagues
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The FWSIM CIO Executive Leadership Summit The Transformational CIO: Winning in a Globally Competitive Marketplace October 25, 2010 Opportunities AboundOpportunities Abound –Boards and CEOs seek strategic advice and industry expertise Penetration of women and minorities still low Retirements over the next decade –29% of S&P 500 boards with an average age of 64+ »75% of Boards have a mandatory retirement age “Over-boarding” forcing openings Demand for financial experts Smaller Boards increasing size to add capacity
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The FWSIM CIO Executive Leadership Summit The Transformational CIO: Winning in a Globally Competitive Marketplace October 25, 2010 Recruiting PictureRecruiting Picture –50% cite a shortage of capable board members –37% have challenges finding financial experts –50% report difficulties finding international expertise –50% report difficulties recruiting technology backgrounds PwC/Corporate Board Member survey of 1,000 corporate directors
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The FWSIM CIO Executive Leadership Summit The Transformational CIO: Winning in a Globally Competitive Marketplace October 25, 2010 Value Tech Leaders BringValue Tech Leaders Bring –Functional expertise: Capital investment Technology-enabled business transformation Privacy and security Customer solutions ERM “De-coder” –but avoid dependency
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The FWSIM CIO Executive Leadership Summit The Transformational CIO: Winning in a Globally Competitive Marketplace October 25, 2010 Value Tech Leaders BringValue Tech Leaders Bring –Business Competencies Solid management skills Financial acumen Strategic Thinking Process and analytical orientation Complexity management Collaboration skills Global experience Acquisition/divestiture/integration
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The FWSIM CIO Executive Leadership Summit The Transformational CIO: Winning in a Globally Competitive Marketplace October 25, 2010 Voice of a Top Board RecruiterVoice of a Top Board Recruiter When Boards are considering CIOs: It is usually in recognition of how vital technology is to both the business model success of the company as well as to the cost structure Clients seek : Executives who know the digital, e-commerce and social networking side of technology Corporate strategy perspective and engagement Strong commercial and business development skills
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The FWSIM CIO Executive Leadership Summit The Transformational CIO: Winning in a Globally Competitive Marketplace October 25, 2010 ConundrumConundrum –Boards have reservations about recruiting Directors with no Board experience “No one on training wheels” How do you get started?
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The FWSIM CIO Executive Leadership Summit The Transformational CIO: Winning in a Globally Competitive Marketplace October 25, 2010 Building BlocksBuilding Blocks –Non-profit service Governance, teaming –Advisory Boards Future candidate pool Intellectual capital and advice Non-binding, non-fiduciary –Private company Boards –Recruiters –Network
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The FWSIM CIO Executive Leadership Summit The Transformational CIO: Winning in a Globally Competitive Marketplace October 25, 2010 Realities of ServingRealities of Serving –Time commitment has increased “New normal” average of ~ 200 hours/year Requirement when there is an “event” –Learning curve with a new industry Metrics, competition, value chain, culture, innovation, customers, acronyms –Home company support –Fiduciary responsibilities, liabilities –Increased public scrutiny of Directors and Boards
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The FWSIM CIO Executive Leadership Summit The Transformational CIO: Winning in a Globally Competitive Marketplace October 25, 2010 “Noses In, Fingers Out”“Noses In, Fingers Out” –You are not management A key difference in how a Board contributes to discussion and decision making Can be a difficult adjustment for Directors who are operators and “hands-on” executives –The adjustment must be made Follow protocols in engaging with line management
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The FWSIM CIO Executive Leadership Summit The Transformational CIO: Winning in a Globally Competitive Marketplace October 25, 2010 Due diligence: do your homework on the Company and the BoardDue diligence: do your homework on the Company and the Board –Be willing to walk away Product Reputation, litigation Understand they make money Ethics and values Leadership Teamwork/culture Meet each Director and top management Governance
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The FWSIM CIO Executive Leadership Summit The Transformational CIO: Winning in a Globally Competitive Marketplace October 25, 2010 BenefitsBenefits –A unique and valuable element of your personal development –Enhances knowledge and perspective for your “home” company –Strengthens interaction with your company Board –Adds “edge”
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The FWSIM CIO Executive Leadership Summit The Transformational CIO: Winning in a Globally Competitive Marketplace October 25, 2010 Questions?
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