Do you have sound knowledge of governance issues facing the board? There is a degree of risk when one takes on a Board position, so understanding that risk is important.
Is the industry regulated? If so, who are the regulators and do you have any experience, knowledge or interaction with those regulators? How well do you understand the industry?
Understanding the industry doesn’t become as important as understanding governance practices especially when the experience of directors of the board complement one another. Say for example, one board member was an industry expert and another understands the regulatory side from his/her own industry, etc.Continue reading