“Using A Board Seat as A Stepping Stone”
In the November 4, 2010 issue of The Wall Street Journal, Booz & Company Senior Partner Edward Tse (China) said that joining the board of directors of Baoshan Iron & Steel Corporation in 2006 helped to “make me a better consultant” in his role as an advisor to clients doing business in China. Tse, who is Booz & Company’s Chairman for Greater China, said he soon learned how executives of the big steel producer made decisions based “very much based on data” and in extensive discussions with board members. Tse’s experience mirrors the growing trend in which more boards are seeking active executives below the CEO level, especially those with expertise in areas such as global marketing, risk management and digital media. Non-CEOs account for 26 percent of new independent members on the boards of Standard & Poor’s 500 concerns, which is up from 18 percent in 2000.