Director and Board Development
Truly successful companies focus on building strength and leadership at every level. Strategic leadership begins with an organization's board which is responsible for selecting senior leadership talent, approving strategy and ensuring that measures are in place for tracking an organization's progress against its strategic objectives.
Meridien helps CEOs and boards to:
- Create high-performing boards
- Improve effectiveness through board evaluations and director peer feedback
- Strengthen CEO/board relationships
- Assess director competencies relative to vision and strategy
- Manage director succession
Corporate Governance Surveys
Meridien works with board chairs and governance committees to gather directors' perceptions regarding governance practices and issues. Data is gathered through individual interviews or by paper and pencil surveys. Meridien analyzes and reports on trends and implications to the governance committee and the board, and works with them to develop plans to strengthen the board as a strategic resource for the organization.
As boards improve their core governance practices, some pursue a higher level of effectiveness by implementing individual director assessment including peer feedback among directors. This process facilitates the opportunity for each director to reflect upon and provide feedback to their peers in the context of both their committee and full-board contributions. Individual director assessment helps to facilitate succession planning for directors as boards assess the strengths and weaknesses of their own talent.
Meridien consults with chairs and boards to educate them about best practices in areas such as director selection, succession, chair evaluation and board dynamics, and to implement work plans necessary to strengthen the board.
CEO Performance Measures and Reviews
Developing goals and measures of success for CEOs is an important opportunity for boards to influence corporate direction and performance. Meridien works with boards to articulate a balanced set of objectives for CEOs and to establish processes for monitoring and providing feedback to CEOs on their performance.
Planning for and effectively managing CEO succession is a key indicator of board effectiveness and is critical to organizations' continuing success. Meridien works with boards to identify the profile of necessary CEO skills and abilities, and to monitor the development of internal candidates. Meridien assists new CEOs in effectively managing transition into new leadership roles.