What are the relative advantages of having retirees and active professionals on a board?
Advantages of retirees: Most obviously, retired people have more time an especially significant consideration today, when directors are being asked to take on new responsibilities and devote more hours to the position. Retirees can draw on a wealth of career and life experiences, which sharpens their judgment and makes their counsel especially valuable. Retired people bring a clearer focus to the boardroom because they are subject to fewer distractions and demands than active executives, especially execs in senior management with weighty responsibilities to their own businesses. Advantages of active professionals: Functioning in the business world on a daily basis, active executives are more likely to be aware of market trends and other significant issues that affect board decision making. They also have better contacts. Board membership today may involve rigors such as intense preparation, international travel and long days crowded with meetings. Active directors may be better able to
