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a16z Podcast
a16z Podcast: Building a Better Board
Mar 16, 2015
Shellye Archambeau, CEO of MetricStream and board member at Nordstrom and Verizon, collaborates with Gerri Elliott, a board member of Whirlpool and former Chief Customer Officer at Juniper Networks, to discuss their journeys and insights on corporate boards. They explore strategies for diversifying board memberships and emphasize the importance of mentorship and networking. The duo highlights navigating the challenges of board compositions, the significance of value propositions, and the transformative role board members can play in driving company success.
31:50
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Quick takeaways
- A substantial 39% of new board seats in Fortune 500 companies were filled by first-time members, highlighting the evolving landscape of board recruitment.
- Despite growing awareness of the need for diversity, minority representation on boards remains stagnant, necessitating intentional efforts to bridge this gap.
Deep dives
Understanding Board Composition and Dynamics
The discussion highlights key statistics about board composition, particularly among Fortune 500 companies. A significant portion of elected directors are retired, and the average age of board members is notably high, underscoring potential generational gaps in these boards. The podcast notes that while the percentage of women on boards has increased, minority representation has stagnated, indicating persistent challenges in achieving true diversity. These statistics illustrate the need for intentional efforts in diversifying board member profiles to reflect broader societal representation.
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