new york
london
copenhagen
paris
beijing
sydney
Situation
We were tasked with assessing the board composition of a VC-backed, B2B SaaS / Fintech scaleup business by an investment company who were the largest external shareholder. Following a period of rapid growth, the business was seeking to professionalise the Board by appointing at least two independent Board Members who brought deep operational rather than investment experience.
Approach
There were two elements to this process, starting with how we determined the specific type of competency profile required from the independent NEDs. We completed an analysis of the current Board’s competencies, identifying two complementary prospective profile types that we recommended should be added going forwards.
Following an agreement to launch the search, we started work on discovering two specific candidate profiles:
- A founder or CEO of a scaled startup in software or technology, with strong insights on people & culture, cross-border operational complexity, and Product
- A senior NED with financial services experience and a deep understanding of financial, operational, and reputational conduct and compliance risks
Combining our international network with a rigorous mapping process, we engaged reputable founders and leading tech profiles who had previously scaled tier one software businesses internationally, both across Europe and in the US.
Impact
The client was presented with a shortlist of 12 candidates, six for each profile, who were collectively based across six countries. Each of the profiles brought a unique story of scaling software businesses in different industries, or in the case of the second profile, working with high profile financial institutions on their risk and regulation agenda. The client ultimately appointed two women to the Board to cater for both profiles, helping not only to round out the competency base but also improving the diversity of thought on the Board.
