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Open advertising for NED positions

17th October 2011 7 Comments

“We are considering including advertising for our next NED appointment. Have any companies used open advertising for NED positions? What wording did you use (is there an example?) and what quality and quantity of response did you receive?”

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  1. FTSE SMALL CAP said

    17th October 2011 at 12:01 am

    I have never experienced open advertising for NEDs, though this does seem to be common in the public and not for profit sectors. At my last role 3 NEDs were appointed in a short period of time; whilst headhunters were appointed, previous personal contact seemed most important.
    I would not rely on open advertising as i doubt the response rate would be good, for all sorts of reasons. It might help bring forward candidates to support diversity.

    • FTSE 250 said

      17th October 2011 at 12:00 am

      We have only ever used headhunters.

      • FTSE 100 said

        17th October 2011 at 12:00 am

        All our NEDs came via personal recommendation of CEO or Chairman or via professional advisers. This covers a period of 4 years since IPO in 2007 and 4 appointments of NEDs.

        • FTSE 250 said

          17th October 2011 at 12:00 am

          I have never seen a company advertise for NEDs. In places I have worked its always been done via headhunters, with the Chairman/other NEDs making suggestions. You do however see adverts from time to time in the FT on Thursdays. I suspect that advertising, and using your own HR team, is probably a better way than paying headhunters for their contact list (which is expensive and galling)

          • FTSE SMALL CAP said

            17th October 2011 at 12:00 am

            To date we have not placed advertisements for non executive directors. Recent appointments have been by recommendation from a variety of business contacts.

            • FTSE 100 said

              17th October 2011 at 12:00 am

              We have not openly advertised and are unlikely to do so.

              • FTSE SMALL CAP said

                17th October 2011 at 12:00 am

                We have not yet ventured into the open advertising world for this type of appointment, but would also be very interested to learn of others’ experiences.

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