Business & Finance, Directors Conference
Get Fired Up About Boardroom Duty
ORLANDO, Fla.—As the challenges that co-op directors face grow in complexity, it’s more important than ever for them to bring passion to the boardroom, a nationally recognized business leader said.
Business leader Kathi Seifert tells co-op directors how to bring purpose to their boardroom duties. (Photo By: Steven Johnson)
“So many of the problems today are very, very different than when they first evolved 10 years ago,” Kathi P. Seifert told participants at the 2012 NRECA Directors Conference.
“We need to be passionate about the business. Get engaged. Even if you personally don’t feel confident doing it, watch others and see if they’re confident, and just hang out with them for a while.”
Seifert is an authority on the inner workings of corporate boardrooms. She retired as an executive vice president at Kimberly-Clark Corp. after 26 years with the global personal and health products giant.
She’s also on the boards of several for-profit and not-for-profit firms and has been named in past editions of Fortune magazine’s 50 Most Powerful Women in Business.
Seifert said it’s essential that directors go beyond the routine of monthly meetings and maintain active community contacts, so they understand the needs of their members—whether they’re farmers, families or commercial accounts.
“Stay engaged as much as you can in understanding where your members are coming from, and make sure that you’re meeting or exceeding their expectations. That’s where you’re going to make sure that your membership stays with you.”
That means talking in public about “our” co-op, and not “your” co-op, she said, to avoid falling into an “us versus them” mentality.
Developing a special area of expertise, such as risk management or audits, is a good way to be able to talk about a topic with passion, Seifert said during her Feb. 13 speech. “Don’t be passive in board meetings. Have lots to contribute.”
Echoing earlier comments of NRECA CEO Glenn English, Seifert told directors that they need to stay engaged politically. As a board member at pharmaceutical giant Eli Lilly, she has found that political activity is a necessary part of director duties.
“You must engage in politics that impact your business,” she said.
For more news coverage from the 2012 Directors Conference, click here.
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Tags: Business and Finance, Directors Conference, Governance