This piece is part of a series of observations from our past Directors to Watch, encompassing the ways board service has changed since they received the honor and what they are doing to ensure they continue to thrive as board members amid an evolving landscape.
Justine E. Tobin
Directors to Watch 2019
First Citizens Bank Charlotte Metro
Since being named a Director to Watch, I’ve become much more aware of the heightened interest of prospective directors in board roles, especially among my colleagues and peers navigating forced corporate exits and early retirement. There’s an unsated appetite for purpose and relevance among these professionals.
But the supply of board seats doesn’t keep pace. Many candidates never gain traction. Disheartened, they stop looking. This saddens me. There’s a lot of diverse, untapped talent out there — eager players with lots to offer. This lack of love is not just felt by the faithful corporate warriors. It’s also felt by entrepreneurs who would like to contribute to the boards of others, but are often undervalued because they don’t have large, “safe” companies on their resumes.
I understand the disconnect. As an entrepreneur who founded and built a company — and stayed in business — I know firsthand that many experiences aren’t what many boards value. Board leaders still tend to pick their friends, the people they already know or someone who served on “that board over there.” And larger boards tend to prize Fortune 500 lineage. That reality, unstated but deeply entrenched, tempers many candidates’ enthusiasm.
To me, in recent years, two issues have changed for board members. Volatile, short-term change is on the rise, caused by decisions made by others that impact the company and its operations, but then possibly change again. This era is a good test of sound stewardship practices. I hope others look at this environment that way. The other change is in how I show up as a director. AI has sharpened my judgment, accelerated my preparation and deepened my engagement. I continue to learn and grow with this powerful tool, advancing my work and what I contribute to my boards.