An increasing number of organisations are appointing advisory boards.

There are many good reasons for a company to do so. It could be to ensure it receives expert advice on emerging technology or scientific advances, or to gain insight into doing business in diverse global markets.

An advisory board may also assist a company to sell its products and services to government customers, or to provide counsel on public relations and reputation management.

Advisory boards are no substitute for statutory boards of directors. Indeed, properly constituted, advisory boards should complement and strengthen the existing board.

Equally, to be effective, advisory boards need a clear remit. The board’s objectives and terms of reference, as well as the expected time commitment, should be established from the start.

This paper, based on Odgers Berndtson’s extensive experience of helping companies to appoint advisory board members, looks at the role and contribution of advisory boards more closely.

We conclude that advisors can play an increasingly significant role in assisting companies through this period of economic uncertainty, regulatory change and intense global competition. 

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The role of Advisory Boards

Kit Bingham

Kit Bingham is a Partner in the Board Practice at Odgers Berndtson, and Head of the Chair & Non-Executive Director Practice. Kit joined after a career in financial journalism and financial public r...

Rachel Slattery

Rachel Slattery is a Principal in the Chair & Non-Executive Director Practice at Odgers Berndtson. She joined Odgers Berndtson in 2005 as a member of the Industrial Markets Practice before moving i...

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