When interviewing a Board Chair

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Questions to ask when interviewing a Board Chair





103 due diligence questions.


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Top 10 questions

  1. Why do you want to be Board Chair of this company?
  2. How much time do (an can) the candidate dedicate to the role?
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General questions

  1. How do you think you can add value once joined?
  2. What culture would you like to instill in the board?
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Skill set and qualifications

  1. What formal training and education do you have to fulfill your role as Chair?
  2. How many positions as Board Chair have you held?
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Scenarios

  1. What would you do if the CEO quit tomorrow?
  2. What would you do if an audit discovered fraud and embezzlement amongst individuals in the upper management?
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Recommendations from the candidate

  1. What frequency of board meetings do you recommend?
  2. What size should the optimal board be?
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Contract and compensation

  1. Do you expect a warrant program as part of your compensation?
  2. What is most important for you; Recurring payment (salary) or milestone/bonus payment when goals are achieved?
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Questions to ask yourself

  1. What package are you willing to offer the right candidate?
  2. Will you be offering shares as an upfront payment for the candidate to be joining?
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Evaluation

  1. Will the candidate be able to help the company with what it needs fixing?
  2. Does the candidate seem genuinely interested in helping the company achieve its goals?
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Other questions

  1. Why do you want a career as a Board Chair (if that is the case)?
  2. Describe a challenging project, and how you overcame it?
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