Corporate Governance Consulting

Advancing Board Effectiveness with Governance Consulting

We tailor your governance policies to the needs of your organization and reflect those governance practices and policies that are in support of board members’ ability to meet their fiduciary duties, and that also lead to effective boards and board members.  We have seen first-hand which board governance practices and policies can be most effective.

Let us review and revise your governance policies including corporate governance guidelines, board tenure policies, director expectations.

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Board Skills Assessments

A skills assessment and resulting skills matrix present a snapshot in time of the skills and competencies of the current members of the board and those areas of expertise important to have on the board based on the company’s industry, current strategy and any regulatory requirements.

Skills matrices are used by the nominating and governance committees of boards as they consider board refreshment and board succession planning.

As company strategies are refined or changed or the composition of the board changes and some particular expertise is or will be lost as a result, the skills matrix will need to be refreshed.

BOARD REFRESHMENT AND SUCCESSION PLANNING

Board tenure and refreshment policies are essential these days to help to ensure continuity and competence among the members of the board.  They provide clarity and set expectations for board members. They can also prepare the board for both expected and unexpected transitions in the board’s composition.  

There is data to suggest that both boards and CEOs believe one or more of the current board members should be replaced.  Having strong board tenure and refreshment policies that are enforced are ways to help address these concerns.  A recent board evaluation that includes individual director assessments can also start the conversation that can lead to change in the board’s composition. 

There are various approaches to board tenure and board refreshment policies, including age limits, term limits, both of which can be blunt instruments and result in the loss of valuable voices on the board.  Some newer approaches are surfacing, including having a combination of longer serving board members and newer board members to bring fresh perspectives balanced by historical knowledge and wisdom.  In some cases, the board may increase the size of the board to accommodate a particularly appropriate candidate for the time.  

Board evaluations, skills assessments, board tenure policies are all integral to maintaining an effective board that is able to provide sound guidance to and oversight of management and the company based on the company’s current strategic direction. 

Let us help.

WHAT CLIENTS SAY

  • “ I have had the great pleasure to work with Kris and Cherie on two engagements in the past year. Both assignments were quite demanding, and they executed flawlessly on all fronts, making efficient use of our time. In my estimation, both boards as a whole and directors individually are functioning more effectively having had the benefit of the Veaco Group’s advisory work.”

    ─ Lisa Hess, Chair, Investment Committee, TIAA; Former Chair, Finance and Investment Committee, Radian Group, Inc.

  • “We engaged Kris and the Veaco Group to do Board performance assessment survey for us. We had done both internal and third party assessments previously, but found the work and feedback that Kris and her team provided to be more thorough, to the point and well thought out than any that we had experienced before. Kris’ style and genuineness is very unique. She was a pleasure to work with and the full Board appreciated the observations and counsel she provided.”

    ─ Gene Batchelder, Former Independent Chairman, Occidental Petroleum Company

  • “It has been a true pleasure to work with the Veaco Group on board effectiveness efforts. The assessment the Veaco Group did was comprehensive and provided us with a clear delineation of how we could improve. I particularly appreciated the detailed recommendations provided as it gave us a blueprint to follow in the years ahead. The Veaco Group’s knowledge and expertise about governance matters is extensive and I found them to go above and beyond what I’ve traditionally experienced with similar engagements.”

    ─ Jan L. Bergen, Chair of the Nominating and Governance Committee, Hershey Trust Company Board of Directors; Board of Managers, the Milton Hershey School; Former President and Chief Executive Officer, Penn Medicine, Lancaster General Health

  • “I worked with Kris and Cherie of the Veaco Group a few years ago as Chair of a Governance Committee. They did an excellent job and did it in a way that was constructive and value added. Exceptionally knowledgeable and professional.”

    ─ Margaret (Peggy) Foran, Chief Governance Officer, Senior Vice President and Corporate Secretary, Prudential Financial; Independent Director of a Public Board

  • “Our board has had a relationship with Kris for several years and has benefited from her governance expertise in two separate engagements. Her knowledge is wide and deep, allowing us to enjoy comprehensive support. Her considerable experience as a lawyer and corporate secretary along with her many years advising a large, diverse client base yields valuable insight and solid guidance. She is accessible, reliable, thorough, practical, and flexible. And she is a pleasure to work with!”

    ─ Robin MacGillvray, Former Chair, Nominating and Governance Committee, Simpson Manufacturing Company, Inc.

  • “Please know that you have left an indelible positive impact on our board from your work with us and that we will be looking for ways to partner with you again at some point!”

    ─ Jennifer A. Chatman, Chair of the Nominating and Governance Committee, Simpson Manufacturing Company, Inc.; Paul J. Cortese Distinguished Professor of Management, Haas School of Business, University of California, Berkeley

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Enhance Your Board's Effectiveness with Our Consulting Services.