How to get on a board of directors

Summary

Navigating the path to directorship can be a compelling yet perplexing journey. This article seeks to demystify the steps towards securing a director role in an Australian company and accelerating your director career.

Key Points

  • Understanding the role of a corporate director and the criteria to become one.
  • How to strengthen your profile and skills.
  • Experiencing starter boards.
  • Leveraging mentorship and invaluable networks.
  • Taking the right educational courses.

 

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Who Can Be a Director of an Australian Company?

A director role in Australia demands high integrity, professionalism, and a commitment to uphold ethical business values. Not just anyone can be a director. One should be at least 18 years old, not disqualified by the Australian Securities and Investments Commission (ASIC) or the courts, and must consent to undertaking the role.

How Can You Prepare to Become a Director?

Start by gaining relevant industry experience, having a thorough understanding of organisational dynamics, and developing strategic decision-making skills. Being a director necessitates a strong understanding of the business landscape, corporate governance protocols, and the ability to think critically.

Consider undertaking responsibilities that accord you an opportunity to present to the board or participate in board-level discussions. Such exposure equips you with critical insights into the breadth of a director’s role.

How Does Exposure to Starter Boards Benefit Your Director Career?

An effective stepping stone for those with the ambition of landing a bigger board role is to gain experience on smaller boards. Start with roles in private companies, government or not-for-profit boards. These experiences can equip you with hands-on boardroom skills, provide perspective, and a foster the strong voice needed around the board table.

Does Mentorship Aid in Becoming a Corporate Director?

Mentorship plays an important role in guiding aspiring directors. Identify potential mentors within your existing networks. These could be experienced directors who can offer guidance, share insights, and advise you on skill enhancement and career progression tactics.

Can AICD education courses accelerate your journey to directorship?

The AICD provides a variety of education services to equip existing and aspiring directors with the tools necessary to thrive in the governance landscape. From directorship courses to tailored governance programs, AICD is instrumental in building the competency of leaders who intend to contribute positively to society.

A directorship role could be a rewarding, albeit challenging, proposition. By embracing the journey, honing relevant skills, and seeking guidance, you can pave your way to a fruitful director career.

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