In this episode, Victor Arias from Diversified Search Group shares his extensive experience in board recruitment and governance. He discusses the differences between executive search and board search, the economics of search firms, and the importance of board composition and continuous improvement. Victor emphasizes the need for Latino representation on corporate boards and provides advice for individuals interested in board positions.
0:00 -- Intro.
2:02 -- Start of interview.
3:02 -- Victor's "origin story"
5:30 -- Joining Stanford University's Board of Trustees, and later the board of Popeye’s Louisiana Kitchen (NASDAQ: PLKI).
9:06 -- His current position as Managing Director and Practice Leader, Consumer and Retail at Diversified Search Group, working primarily in the Board of Directors practice. He is the leader of the firm’s Dallas-Fort Worth office.
9:53 -- Differences between executive and board searches. "We find people for jobs, not jobs for people"
13:01 -- The role of data and automation in the search business.
14:48 -- Distinctions between board searches for private and public company boards.
17:27 -- Economics of search firms on executive and board placements.
20:15 -- On working with Nomination and Governance Committees and the evolution of Board Matrices. On overboarding. On board expertise: cybersecurity, digital, legal, international, etc.
28:38 -- Boardroom trends in 2023: Flexibility on C-suite experience, broader demand for specialized expertise (cyber, AI, ESG, etc). On the ESG and DEI backlash. "Companies are looking for supply chain expertise." On geopolitics in the boardroom.
32:36 -- What are boards looking for in new directors. "They are looking for really strong core values: integrity, ethics, leadership and judgment." How to build your brand as a director. Functional expertise. "Search firms probably fill 30-40% of open board seats, that tells you that 60-70% are done the old-fashioned way (ie. by other members of the board)."
37:35 -- Recommended resources for board members or aspiring board members. Latino Corporate Director Association (LCDA).
39:30 -- On boardroom diversity and the state of Latin@s on corporate boards.
42:17 -- Measuring effectiveness of board members.
44:40 -- Books that have greatly influenced his life:
46:17 -- His mentors, and what he learned from them:
48:35 -- Quotes he thinks of often or lives his life by: "Keep your friends close, and keep your enemies closer."
49:07 -- An unusual habit or an absurd thing that he loves.
49:43 -- The living person he most admires: Pope Francis.
Victor Arias is a Managing Director and Practice Leader, Consumer and Retail at Diversified Search Group, working primarily in the Board of Directors practice. He is the leader of the firm’s Dallas-Fort Worth office.
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Twitter: @evanepstein
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Music/Soundtrack (found via Free Music Archive): Seeing The Future by Dexter Britain is licensed under a Attribution-Noncommercial-Share Alike 3.0 United States License