Making your board a major asset

Feeling like your board is a pack of meddlers?

Most CEO’s have those moments. But consider the real value a board can offer.

In an article for the Globe and Mail, Chris Catliff, President and CEO of BlueShore Financial, describes How a board of directors can be a major asset.

If you’re not familiar with BlueShore, the company is a Vancouver-based credit union that recognized early the unprecedented digital disruption coming to financial services. With the encouragement of their board, they expanded their market reach, and shifted their client base to growing assets under administration from $720-million to over $4.6-billion.

Among Catliff’s lessons learned about the value of BlueShore’s board, here are a few that we champion:

• Boards protect the value and credibility of the company so it doesn’t walk out the door when the current CEO departs.

• Boards provoke transparency helping to uncover sub-surficial issues that the CEO might happily wish to avoid, but if left unresolved put the organization at risk.

• Board Directors should be willing to invest what can amount to considerable time and energy. They should also be open and eager for annual assessment of their performance and the entire board’s.

We don’t want to steal Catliff’s thunder; you need to read his article to learn the 2 Key Recommendations he shares for getting the most from your board.

Full article on Globe and Mail: How a board of directors can be a major asset

Keep in mind – Aprio Boardroom™ can help make transparency and accountability assets of your board.