Are companies always inviting highly successful and influential people to sit on their board?

[Kross]

I have seen many companies that always have university dons and highly successful people sit as board members. Why does a company invite those people to their boards. And what advantage does it give to the business when influential people sit on their boards?

 

[Augusta]

A board of directors (BofD) is the governing body of a corporation the members are elected by shareholders most times and they would be experts and professionals with wealth of knowledge

 

[Fidelia]

It increases the pedigree of the company when outstanding people are sitting on their board. Many businesses do that.

 

[magnus2022]

Companies don't hire experts and successful people to sit in their boards. It is the shareholders that elect those board members who are also have vested interests in the business. If you don't have shares in a company, there is no how you will be in the board.

 

[Springtime]

Yes, many big corporations here are inviting highly influential and successful people to their board. I think other than making use of their knowledge, that helps to boost the image of the corporation.

 

[Augusta]

it is because their presence can enhance a company's credibility, attract talent, and potentially lead to better decision-making and outcomes.

 

[King Belieal]

Companies don't hire experts and successful people to sit in their boards. It is the shareholders that elect those board members who are also have vested interests in the business. If you don't have shares in a company, there is no how you will be in the board.

Go and checkout some very big companies in Nigeria. They have people that don't have any contribution to the business as board members. Some of them because they are very intelligent.

 

[magnus2022]

Go and checkout some very big companies in Nigeria. They have people that don't have any contribution to the business as board members. Some of them because they are very intelligent.

I never heard such, please can you give me one or two companies in Nigeria that have board members who are not shareholders!

 

[Nomad]

Business need qualified people not only to work for their operations but also in the executive board.

 

[eLdavis]

This is also a way for the business or organization to build a strong and credible image for themselves.