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Leadership Benefits of Board Service
Irene Rosenfeld,
Chairman and CEO of Kraft Foods, was the feature speaker in
Toronto recently at the second “Women Who Lead”
luncheon, organized by WIL and supported by CIBC.
Irene was appointed CEO of Kraft Foods in June 2006 and named
Chairman in March 2007. As President, Kraft Foods Canada from
1996 to 2000, she was the first American named to serve as Chair
of the Food and Consumer Products of Canada (FCPC) association.
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Learning in Canada
In 1996, when I became the first female head of Kraft Canada, all
my direct reports were men, all quite seasoned in their jobs.
They had very little experience working with women and had certainly
never had occasion to work for a woman. And, frankly, if that wasn’t
enough of a shock, the team wasn’t wild about Americans either.
But in spite of, or maybe because of, those challenges, I grew a great
deal, learning about:
 the importance of listening
the power of empowering people to make decisions for themselves, and
the fact that honest, candid communication is critical to moving a
business forward
But, most importantly, my time in Canada taught me about the difference
between managing and leading, which brings me to the topic of the
role of board service in leadership development.
In my position, I’m often asked to talk about leadership. In
fact, about a year ago I was keynote speaker at the Kraft Canada Women’s
Community Group Conference and a couple of weeks ago I talked to top
performers at Wal-Mart.
Learning about Leadership
When I talk about leadership, I’m reminded that no matter where
you are in your career, you can always get better. Developing leadership
skills is a lifelong process.
I am continually learning and growing, not just on the job. Leadership
lessons can come from anywhere, including through parenting, which
I consider the ultimate leadership development course.
Serving on a board of directors provides keys which open doors to
a wealth of new opportunities for learning and growing. When the fit
between a board member and an organization is right, it is a powerful
win-win situation. You grow as a leader and the organization grows
from your contributions.
Irene Rosenfeld (left), listens attentively to the questions
about young leadership asked by Karen Murtan, Principal
of Branksome Hall. Seated to her right is Karrie Weinstock,
Head of Middle and Senior School. Accompanying them are students from
Branksome who attended the luncheon thanks to the support of
a sponsor who believes leadership skills are developed and encouraged
at an early age. “I'm still very proud of my first leadership
position: treasurer of my Brownie Patrol when I was eight years old”
says Rosenfeld.
Here are five important benefits I believe come from board service:
Inspiration
Serving on a board can be inspiring and educational. While everyone
needs to develop his or her own leadership style, the experience of
watching others lead can be an impetus in challenging yourself to
try something new, or to stretch in a direction you might not have
considered.
I sit on the board of my alma mater, Cornell University. Just listening
to these amazing leaders share experiences and express their views
is incredibly inspiring.
Insight
A second benefit of board service is in providing a forum for leaders
to learn from one other, exchange new ideas and gain insights.
The tremendous diversity of talent and experience on the Kraft board
is enormously helpful. Whether drawing on members for financial expertise
during an acquisition or seeking their experience as we institute
organizational change initiatives, members who spent their careers
in top-tier consumer product companies provide great advice.
Networking
A third benefit of board service is networking. Kraft Board member
Myra Hart said recently in a meeting, “The one thing you should
always expect to bring to board service is your rolodex.”
We use recruiting firms to identify potential candidates when we have
significant positions to fill, but the best leads still come from
those who know our company and our industry best, including our Board
members.
Practice
A fourth benefit of serving on a board is the opportunity to actually
practice your leadership skills in another environment. A valuable
skill I need as a CEO, and that any good leader needs, is the ability
to build consensus among disparate groups and individuals.
Through board membership, I’ve learned how to run a board meeting,
prepare a board briefing book and interact with government officials.
Giving back
The final benefit of board service is about giving back. Having an
opportunity to share your skills and experiences with organizations
meaningful to you feels great.
Serving on the board of trustees of my alma mater has been a wonderful
way for me to give back to an organization I love and which has played
a significant role in my success. It has been fascinating to see the
institution from the inside and, as a proud parent of a member of
the Cornell class of 2008, it has been equally instructive to learn
more about what is really going on there!
I’m still very proud of my first leadership positions; treasurer
of my Brownie Patrol when I was 8 years old; Captain of an elementary
school Safety Patrol and President of a Student Council in High School.
Those experiences taught me valuable lessons about leadership, responsibility,
working with others, public speaking and honing my competitive instincts
and gave me the confidence to take on progressively bigger challenges
in my life. I truly wouldn’t be the leader I am today without
them.
Questions to ask yourself when considering joining a board:
What’s my objective?
Why am I doing this? What do I hope to get out of the experience?
Who are the other board members?
When you join a board, you join a community. Make sure you do your
homework about the other members.
What is my potential impact on the board?
There are lots of different kinds of boards, so this isn’t always
easy to figure out. Many companies have caught the diversity bug and
are looking for women board members because they have to, rather than
because they want to. Serving on large or small boards can be different,
but in today’s governance environment, there is always a lot
of work involved.
Liability/governance
Be certain you understand your fiduciary responsibilities and legal
liabilities. While I would never dissuade anyone from considering
board service, in today’s governance environment, joining a
board is a serious matter. Do your homework about the financial health
of the organization, the integrity of its leadership and of the other
board members as well.
This article represents an edited-for-publication version of her speech.
For her complete speech visit: www.womeninthelead.ca/docs/IreneSpeech092208.pdf
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