Last week, Dr Sharbanom Abu Bakar spoke about her board journey.
She talked about the data behind sourcing board talent, revealing that 73% of board members are sourced through personal networks. This reliance on networks can limit access to qualified candidates, particularly women and under-represented groups.
Dr. Sharbanom was speaking at the recently concluded Board Awareness Program: Women in STEM: Power Up! event organised by 黑料爆料 Malaysia, Tenaga Nasional Berhad and MyWiE.
She also highlighted the key selection criteria for board positions, sharing valuable insights on how candidates are evaluated.
The top board selection criteria include industry expertise (85%), personal network referrals (71%), strategic insight contributions (60%), regulatory adherence (45%), listed board experience (37%), shareholder nominations (14%), and risk/integrity records (2%). These findings highlight the emphasis on industry-specific expertise and personal networks in shaping board composition.
While key observations on board positioning and selection for aspiring board members reveal the following:
饾悡饾悮饾惈饾悹饾悶饾惌饾悶饾悵 饾悁饾悹饾悶 饾悜饾悮饾惂饾悹饾悶: Companies typically prioritise candidates aged 40 to 55 for board roles, but individuals over 60 remain valued. However, fully employed candidates receive mixed acceptance within PLCs.
饾悜饾悶饾悳饾悶饾惄饾惌饾悽饾惎饾悶饾惂饾悶饾惉饾惉 饾惌饾惃 饾悈饾悽饾惈饾惉饾惌-饾悡饾悽饾惁饾悶 饾悆饾悽饾惈饾悶饾悳饾惌饾惃饾惈饾惉:聽Some boards are more open to appointing first-time listed directors, influenced by their remuneration structures.
饾悤饾悮饾惀饾悽饾悵饾悮饾惌饾悽饾惃饾惂 饾惃饾悷 饾悎饾惂饾惌饾悶饾惈饾惂饾悮饾惀 饾悅饾悮饾惂饾悵饾悽饾悵饾悮饾惌饾悶饾惉:聽Increasingly, companies seek independent validation of their internal candidates by benchmarking against ICDM-matched candidates.
饾悂饾惃饾悮饾惈饾悵 饾悞饾悿饾悽饾惀饾惀饾惉 饾悓饾悮饾惌饾惈饾悽饾惐:聽The evaluation of board candidates now spans three critical angles – Must-have skills, emerging skill sets and unique value propositions.
Candidates with multi-disciplinary expertise, such as in accounting and sustainability, hold a competitive edge. These observations highlight the evolving expectations for board candidates, with a growing focus on diverse skill sets and strategic validation processes. Such insights provide a
roadmap for strengthening boardrooms with future-ready leadership.
Dr. Sharbanom said according to Malaysian Board Practices Review key skills and competencies needed to enhance board effectiveness include digital, ESG, and human resources expertise, which are identifies as areas for growth, with over 40% of boards needing improvement.
Core competencies such as strategy, governance, and industry experience remain strong, but fine-tuning is essential to stay future-ready while marketing, branding, and business development are increasingly critical for driving innovation and resilience.
