The following board members have been named to 2022’s Director to Watch — our annual listing in support of diversity in the boardroom.
Jennifer Banner
CDM Smith Inc., Truist Financial Corporation, Uniti Group
Jennifer Banner is a board member of CDM Smith Inc., a privately held global engineering firm, where she chairs the audit and executive compensation committees and serves on the finance committee.
Banner is a board member at Uniti Group, Inc., a NASDAQ-listed telecommunications infrastructure REIT, where she chairs the audit committee and serves on the corporate governance committee. She is also a board member at Truist Financial Corporation, a Fortune 500 U.S. bank, where she chairs the compensation and human capital committee and serves on the executive and audit committees.
Banner is a fellow of MIT’s Center for Information Systems Research, where she participates in research and education of directors on board digital savvy and the board’s role in digital transformation.
Cybersecurity cannot be an afterthought: “All companies, public or private, local or global, and irrespective of industry, are now feverishly figuring out strategies to survive and thrive in the exciting digital world. This is a time of golden opportunity as companies reimagine themselves and create delightful new products and customer experiences. But boards and leadership teams must stay laser-focused on ensuring that digital innovations are secure by design and that cybersecurity is not an afterthought. The last thing anyone wants is to create the latest and greatest new product or service only to open the company’s doors to stealthy intruders.”
W. Steve Albrecht
The Larry H. Miller Company, SkyWest Airlines, OYO Rooms, DMBA Corporation, Swvl
W. Steve Albrecht has served on both public and private company boards. He has chaired the audit committee on all boards he has been on and has been lead director and board chair. He currently is the lead independent director on the board of The Larry H. Miller Company and serves on the boards of SkyWest Airlines, OYO Rooms, DMBA Corporation and Swvl.
Albrecht has taught corporate governance to MBAs, has helped recruit highly successful CEOs and CFOs, has helped sell six companies and has engineered the purchase of numerous companies. His colleagues say he is the “gold standard” for audit committee chairs, that his compass always points true north and that he is always the best prepared board member.
Albrecht resigned from all his boards in 2009 to provide volunteer service with his wife in Asia but was invited back to serve on all the boards he left when he returned in 2012.
Act as if it’s your own money: “The most important corporate governance principle for directors is to act as if every decision they make about resources is being made with their own money. I recall vividly sitting in a board meeting when a fellow director stated, ‘I would vote no if it were my own money but because it is not, I vote yes.’ I immediately lost respect for that board member. As board members, we have three responsibilities — to provide oversight on behalf of the owners, provide advisory help to management and do all we can to make the management team successful.”
Smita N. Shah
MacLean-Fogg Company
Smita N. Shah is the founder and CEO of SPAAN Tech, Inc., a multidisciplinary firm with expertise in public and private infrastructure projects. She serves as an independent director and member of the audit and finance committee for MacLean-Fogg Company.
A business and civic leader, Shah was appointed by President Biden to the President’s Commission on Asian Americans, Native Hawaiians and Pacific Islanders. She serves as vice chairman of Chicago Plan Commission and on the boards of the Museum of Science and Industry, Lincoln Academy of Illinois and YPO Chicago. She is an advisor to Lurie Children’s Hospital and the Massachusetts Institute of Technology’s Civil & Environmental Engineering school.
Shah earned her bachelor of science degree from Northwestern University, a master of science degree from MIT and a postgraduate certificate in management studies from Oxford University.
Serving as the compass of progress: “More than ever, the pandemic has highlighted that the success of an organization is driven not only by delivering goods and services, but by how its processes impact stakeholders, clients and teams. A well-informed and engaged director will serve as the compass for ensuring that an organization follows principles of fiscal accountability, policy oversight, supporting the management team and reviewing performance, while ensuring that the community is also top of mind.”
Susan Ehrlich
Petal Technology, BECU, Arrived Homes
Susan Ehrlich served from 2018 until 2021 as CEO of Earnest, a financial technology and education finance company. In 2021, she was named a “Top 50 Financial Technology CEO” by The Financial Technology Report. Her career has included executive roles with Simple, Amazon, Lending Club, H&R Block, Sears, JPMorgan Chase and Citi.
Ehrlich now leverages her digital transformation, strategy and company culture-building expertise as a board member, advisor and investor in fintech (financial technology). She is in her seventh year as a board member at BECU, the nation’s third-largest credit union, where she has served as board chair and audit chair. She is an independent director at two venture-backed fintech startups, Petal Technology (Series D) and Arrived Homes (Seed), and serves as an advisor to two more, Atomic FI (Series A) and Sentilink (Series B).
Ehrlich is a graduate of Brown University and Harvard Business School.
Simple and complex, all in one: “The future of business is evolving toward the technology-enabled delivery of everything. Given the rapid growth of fintech, there are no longer ‘digital deniers’ in the financial services industry. This is a global opportunity touching every aspect of the market. As board members, our role is both simple and complex: to define our company’s strategy for competing in a digital world, ensure the right CEO is in place, recruit fellow directors who add value and work effectively together and, above all, set a high bar on ethics and integrity. These principles guide my approach to board work.”
Sheila Rege
Physicians Insurance, American College of Radiation Oncology
Sheila Rege, M.D., is the founding CEO of Northwest Cancer Clinic LLC. In that role, Rege negotiated a joint venture with private equity while delivering significant returns to the clinic’s investors.
Rege was recognized as a “Top Oncologist” by the Consumer Research Council and is board chair of the American College of Radiation Oncology. She is chair of the Washington State Health Technology Committee.
Rege has served as nom/gov chair and compensation committee member for Physicians Insurance, a mutual company. She advises CEOs through the CDL Program and the Alliance of Angels. She teaches leadership and analytic thinking as associate professor at Washington State University Medical School. She has extensive knowledge of corporate governance best practices, regulatory compliance and diversity issues through her board service and restructuring roles.
Corporate governance for a future-ready company: “Diverse directors and strong controls help management navigate headwinds and see around the corner. Aligning incentives to retain top-tier talent has become crucial with unprecedented supply chain issues, consolidation, staff shortages and cybersecurity threats. Digitally savvy board members who listen, question and challenge, but have ‘noses in, fingers out,’ are invaluable. The role of the nom/gov chair is to ensure the board has the expertise and cohesiveness to bring in different perspectives and experiences to have candid constructive discussions within a circle of trust to serve as a sounding board.”
Julia Klein
C.H. Briggs Company, Eastern States Group, Federal Reserve Bank of Philadelphia
Julia Klein is chairwoman and CEO of C.H. Briggs Company, a business-to-business distributor of specialty interior building products. Under her leadership, the company has grown both organically and through acquisition from a garage shop to one of the largest independent companies in its niche. She is a frequent speaker on industry and governance topics and a mentor to emerging leaders.
She serves as an independent director of Eastern States Group and the Federal Reserve Bank of Philadelphia. She is a trustee at The College of Wooster and holds an appointment to the Pennsylvania Early Learning Investment Commission. She also serves on the advisory board of the Raj & Kamla Gupta Governance Institute at Drexel University.
Past roles include boards of numerous privately held and family companies, the Berks County Community Foundation, Reading Health System and the National Association of Wholesalers.
Independent governance matters more than ever: “Strong directors help see around corners and connect ideas across industries and sectors. Corporate, nonprofit and government experience creates synergy and great outcomes, and diverse external input grows culture and the bottom line. Private company directors with cross-functional leadership experience lead with innovation and creativity. The best directors are both financially and organizationally literate and willing to plug into a variety of roles. What I enjoy most about board service is the ability to bring candor, good questions, encouragement and accountability to help leaders and organizations grow.”
Amy J. Radin
AICPA, OfferFit, OpenReel, PebblePost
Known for solving immediate and long-term problems to unlock growth, Amy J. Radin brings broad expertise to the boardroom to help anticipate and adapt to changing business conditions.
Throughout her tenure as a corporate marketing and digital and innovation executive, Radin made significant contributions to American Express, Citi, AXA and others, bringing pragmatism, a collaborative style and the ability to link customers’ perspectives and corporate culture to achieving results. Radin serves on the global board of AICPA and on advisory boards of startups OfferFit, OpenReel and PebblePost. She also acts as executive-in-residence for Progress Partners, an investment bank and corporate advisory firm.
At AXA, Radin served on two subsidiary boards. She is a past director of Healthcare Chaplaincy Network, where she was on the executive committee and served as marketing committee chair.
Ensure the customer has a seat at the table: “As boards provide insights to help the CEO navigate through and beyond pandemic disruptions, long-term value creation will be achieved by companies that focus on customers’ dramatically changing needs and understand they are core to strategy. The past two years have significantly raised customer expectations across sectors for new products, services and customer experiences, requiring rapid, risk-sensitive changes to culture, infrastructure, metrics and other business model elements. Boards that know and advocate for the customer through these complexities will be critical contributors to meeting stakeholder commitments in this new era.”
Lisa Sherman
H Code, Encantos Media
Lisa Sherman is a skilled C-suite executive with more than 35 years of experience at Verizon, ViacomCBS and the Interpublic Group. She is currently the CEO of the Ad Council, a national nonprofit organization that produces public service announcements.
Throughout her career, Sherman has been a catalyst to organizational growth with expertise in business model innovation, marketing, sales, culture building and strategic leadership.
Sherman serves on the board of H Code, the largest tech-enabled multicultural digital marketplace. She is also a board advisor to Guild Education, an EdTech unicorn, and Encantos Media. In addition, Sherman is a trustee at Dickinson College and serves on the World Economic Forum Stewards Board.
Focusing on all stakeholders: “The concurrent health, economic and racial crises over the past two years have made it clear how connected the various systems are that impact business. For companies to effectively address short-term challenges and succeed over the long term, it is critical to focus on the interests of all stakeholders — employees, customers, suppliers, investors and the communities they serve. This focus on all stakeholders is a fundamental component of strategic planning and risk management. All are equally important to ensure a sustainable and thriving business as companies navigate a host of challenges to compete and succeed in a rapidly changing environment.”
Laura Brightsen
Green Cow Venture Capital
Laura Brightsen is president of SolidBlock, a real estate tokenization platform that democratizes the capital raise, liquidity and digital transaction process of companies seeking to leverage blockchain.
Brightsen’s career includes leading marketing for a public telecom company and a $40 billion global private equity firm. She has served as a managing director at a VC that supports women-run businesses and as a partner at a PE firm that invests in emerging markets.
Brightsen served on the board of a venture-backed consumer lifestyle company and as an independent director at Govenda, a rapidly growing board relationship management SaaS solution. She is a venture advisory director for Green Cow Venture Capital, a top 5% seed stage tech fund.
She serves on the national sponsorship committee of the Private Directors Association.
Consider a fiduciary board early: “It is smart company leadership to formalize a fiduciary board early in the development of a startup. I believe that disciplined board governance in the early stages of a company’s formation advances the growth of the enterprise and prepares the company for the next phase of capital formation, revenue scaling, acquisitions or exiting. This core framework aligns all stakeholders’ interest, fosters collaboration and integrity, and drives the mission of the firm.”
Sue Buchanan
Neuco Inc., Morton Arboretum
Sue Buchanan is an accomplished CFO bringing a diverse perspective to the boardroom, combining deep financial expertise, strategy and risk management.
Buchanan has private family company experience as CFO for Sasser Family Holdings and Carus Group and as director of M&A for Duchossois Industries, as well as large public company experience as divisional CFO for Nalco Water, an Ecolab Company.
Buchanan has more than 30 years of experience in the Chicagoland area as a strategic business partner guiding organizations through capital restructurings, acquisitions and divestitures, strategic planning and ESG activities to maximize shareholder value.
She currently serves on the board and compensation committee for Neuco Inc., the premier master distributor of HVAC/R replacement parts to wholesale distributors, as well as on the advisory board of the Morton Arboretum.
The keys of positive boardroom dynamics: “I believe strongly in diversity and inclusion of people and thoughts. Everyone’s perspective needs to be heard and valued in the boardroom and throughout the organization. Studies show that diverse boards generate better returns. Humility, humor, optimism and appropriate candor are critical elements needed. Don’t be afraid of confrontation. Be respectful and value the other members’ viewpoints. Change is constant. Board members are responsible for keeping up with current issues; bringing diverse experiences, skills and knowledge; providing strategic direction; remaining engaged and delivering the best possible guidance that drives shareholder value.”
Tracy Grooms
Goldman Sachs, Charleston Symphony Orchestra, McColl School of Business
Tracy Grooms is an independent director for Goldman Sachs MMLC II and serves on the audit and compliance committees. She is board director and treasurer for the Charleston Symphony Orchestra. She also serves on the board of advisors for the McColl School of Business at Queens University of Charlotte.
Grooms was an independent director for Rabobank, N.A., served on the audit committee and chaired the compliance committee until the firm’s sale in 2019. In her 30-year career with Bank of America, she served as divisional CFO, COO and CCO, leading teams through strategic, economic, political, merger and regulatory opportunities and challenges.
Grooms also led several multibillion-dollar businesses across the retail, mass-affluent and small-business segments. Following her Bank of America career, Grooms joined the McColl School of Business to launch a new banking initiative and serve as the undergraduate director.
Collaborate intentionally: “Intentional collaboration is necessary to deliver integrated and sustainable solutions. The emergence of COVID-19 provided a strong lesson in the power of collaboration. Specifically, arts organizations were deeply affected by COVID with resulting shutdowns and layoffs. Through the power of collaboration within the Charleston Symphony, the board, medical community, vendors, venue partners and municipal authorities, we executed a plan to revise programming and operations with rigorous health protocols enabling us to deliver a full season, including an unplanned Concert for Equality. We were one of the few orchestral organizations that were able to make this happen through the power of collaboration.”
Andrea K. Muller
Burford Capital Limited, Grantham, Mayo, Van Otterloo & Company
Andrea Muller is a skilled CEO and financial services leader with diverse global experience in asset management, credit rating, investment banking and law at large multinationals, including Principal Financial Group, Fitch Ratings, UBS and Shearman & Sterling.
She has spent most of her career overseas, including 15 years in Asia and 10 years in Europe, in addition to eight years in the United States. Muller serves as a director at Burford Capital Limited and on the audit/nominating & governance committees, and as a director at Grantham, Mayo, Van Otterloo & Co., where she is on the audit/compensation committees.
Muller also sits on the private company/family business steering committee for Women Corporate Directors and the advisory board for Georgetown University’s Business Law Scholars program.
The elements of sustainable success: “Following a global career in financial services and law, my passion as a director is to strive for governance excellence through sustainable business strategies. Private companies may lack the talent, resources, experience or vision to create and implement a strategic plan and address challenges and opportunities that arise. Directors with experience in different markets, cultures and geographies can provide new and diverse insights. And directors with skills in joint ventures, partnerships, fundraising and M&A can provide management with long-term solutions for strategic transformation. Boards that embrace diversity of experience enhance corporate governance excellence and generate sustainable results for all stakeholders.”
Glenn Wilson
Federal Home Loan Bank of Indianapolis, Mass Transportation Authority, Hurley Foundation, Michigan Housing Council
Glenn Wilson has more than 15 years of experience in corporate leadership, community development and board service. He serves as an innovative and conscientious board member on the advisory board of the Federal Home Loan Bank of Indianapolis. Wilson also serves on the boards of the Mass Transportation Authority, Hurley Foundation and Michigan Housing Council.
As an active board member, he has facilitated executive searches and initiated DEI programs. He is a convener of industry experts and a trusted advisor to CEOs. Wilson’s multisector experience culminates in a unique and valuable perspective.
Wilson is the award-winning president and CEO of Communities First Inc., where he is transforming cities across the Midwest through real estate development, engagement of residents and creation of economic opportunities.
Bringing knowledge from outside the boardroom: “Board service offers the opportunity to collaborate with an executive team to position companies for greatness. We have seen rapid changes culturally, socially, environmentally and politically in our society, and we have an obligation to adapt to those changes in the boardroom. Innovations in technology, the pandemic and workforce challenges are examples of present issues with lasting impact for companies. Asking great questions and using knowledge we obtain outside of the boardroom helps to offer a valuable diverse and important perspective in critical moments. This ensures that companies hit their bottom line while being socially responsible to stakeholders.”
Barbara Wirostko
Qlaris Bio
Barbara Wirostko, M.D., a serial entrepreneur, is the CMO and co-founder of Qlaris Bio. As a board-certified practicing glaucoma specialist, Wirostko currently is clinical adjunct professor at the University of Utah, Moran Eye Center.
With more than 25 years in pharmaceutical drug and device development, Wirostko has held C-suite roles as CMO, EyeGate Pharmaceuticals; co-founder and chief scientific officer, Jade Therapeutics; CMO, Altheos; and senior leadership positions in medical clinical development at Pfizer in ophthalmology.
Wirostko sits on editorial boards, including those of both the prestigious Ophthalmology Glaucoma and Journal of Glaucoma; has published and written hundreds of peer-reviewed papers; serves on numerous advisory boards and grant review committees; and holds fellowship positions with The Association for Research in Vision and Ophthalmology and the American Academy of Ophthalmology.
Making space for a board’s vision: “As an effective board champion, the mission and growth of a company should ensure its values and strategy align with its members. While board members are tasked with providing strategic counsel and insight, an executive team should go above and beyond to share the most pertinent information about the company’s status to solicit invaluable guidance. A visionary board promotes the long-term success of the company by identifying opportunities that will create value while recognizing challenges and offering counsel on risk mitigation. Boards should collaborate closely with management to enable diversity in beliefs and experiences to provide optimal value.”
Ellen Holladay
Crescent Electric, B&D Industrial
Ellen Holladay is an accomplished C-suite leader and technology executive with over 35 years of experience enabling companies to grow through digital transformation and operational excellence.
For 24 years, Holladay served as CIO and operational excellence officer for Motion, an industrial solutions provider with over 500 locations across North America. During that time, she was responsible for all areas of technology, including digital, cybersecurity and acquisition integration.
Holladay is an independent director at Crescent Electric, one of the nation’s largest independent distributors of electrical hardware and supplies, where she is a member of the governance and compensation committees. She also serves as an independent director for B&D Industrial, an applications-driven independent distributor and service provider, and has been an advisor to several technology start-ups.
Successful boards understand the importance of alignment and balance: “Strategy must be aligned with mission and culture, but reflective of changing market dynamics and the need for transformation. Likewise, transformational initiatives must be balanced with operating performance and shareholder value. Functional and industry diversity are essential, but it is also important to avoid siloed perspectives. Directors should be committed to continuous learning beyond their individual areas of expertise. Shared awareness involving emerging trends and issues in strategic areas such as supply chain, technology, cyber and ESG helps to promote collaboration and establish context for the issues facing boards today.”