Boards don’t want retirees in times of rapid change and those who leave full-time roles could be out in the cold, execs warn

Boards are becoming less interested in retirees in times of rapid change, and women are being shut out of board placements, according to industry executives. Merline Saintil, cofounder of Black Women on Boards, reported a 33% decrease in board placements for women in the last year. Companies are seeking specific titles, predominantly CEOs and CFOs, for new board members, leaving technologists and other underrepresented groups at a disadvantage.

Jane Bargmann, global managing partner at H&S, noted a trend of leaders stepping out of full-time roles earlier to become full-time board members, but emphasized that companies prefer current professionals who are actively involved in their day jobs. Hanneke Faber, CEO of Logitech, echoed this sentiment, stating that companies seek out C-suite candidates who are up-to-date with the fast pace of change.

Board placements can provide new opportunities for seasoned executives, but landing one now depends on staying active in the C-suite and leveraging the right connections. Annie Young-Scrivner, cofounder and CEO of TwinPoint Collective, highlighted the importance of relationships and networking in securing board opportunities, sharing her experience of working with H&S to establish a female-led board for the global beauty brand Wella Company.