Join us and learn from a distinguished panel of experts the similarities and differences between private equity and public boards, the skillsets required to be a successful private equity board member, and the nuances that typically distinguish both types of board service.
The number of US public companies has dropped in half over the last twenty years, equating to a loss of up to 40,000 corresponding board positions. Over the same period, US based private equity funds have invested over a trillion dollars in privately held companies creating thousands of new board member opportunities which are not always sourced by those displaced from the drop in public boards.
Private equity company boards are mainly focused on value creation for investors over a typical five to seven-year hold period and are generally not held to a high level of public scrutiny. Public company boards, by contrast, must consider a much wider spectrum of complexities including long term and short-term growth and profitable performance, ESG and social purpose, sustainability and purpose, shareholder activism and political oversight.
What is the selection process for directors of PE companies and how does that differ from Public companies?
How does the PE director role differ from public company directors?
Russell Ford was appointed CEO of StandardAero in October, 2013. StandardAero is a global enterprise of more nearly 6,000 employees worldwide approaching $3 billion in annual revenue and is one of the world’s largest independent providers of services including engine and airframe maintenance, repair and overhaul, engine component repair, engineering services, interior completions and paint applications. StandardAero serves a diverse array of customers in business and general aviation, airline, military, helicopter, components and energy markets. StandardAero is owned by The Carlyle Group (NASDAQ: CG), a global investment firm with deep industry expertise that deploys private capital across four business segments: Corporate Private Equity, Real Assets, Global Credit and Investment Solutions.
Prior to StandardAero, Russell served as President of Carlton Forge Works and Dickson Test Group of the Forged Products Division at Precision Castparts Corporation. Prior to his role there, Russell served as President & CEO for private equity companies including ClearEdge Power Inc., Prestolite Electric Inc. and as COO for Holley Performance Products Inc.
Preceding his leadership roles in the private equity business community, Russell served in publicly traded corporations including the Lockheed Martin Corporation where he was Senior Vice President of Operations. In addition, he was General Manager for the Industrial and Marine Engine Division of AlliedSignal, Inc., and served in engineering and management positions for Bell Helicopter and AT&T.
Susan Shultz founded SSA Executive Search International, Ltd. In the 1980s, innovating in building and structuring corporate boards. Susan founded the proprietary SaaS company, The Board Institute, Inc. in 2004, to professionalize board evaluation, providing a framework for continuous improvement, education and benchmarking.
Susan is the best-selling author of four books, including The Board Book: Making Your Corporate Board a Strategic Force in Your Company’s Success and has been featured in the Wall Street Journal and numerous other publications. She has spoken around the world to groups such as the Economist in Japan and the Commonwealth Club in San Francisco.
Susan was Nom. Chair, Phoenix Bank, and director of the college subsidiary of Tesseract(Nasdaq). She was President of Charter 100, chaired the Phoenix Committee on Foreign Relations for 16 years, is a member of the Council on Foreign Relations (NYC), and the Pacific Council on International Policy (Los Angeles), is Chair of Women Corporate Directors Arizona and was a director of the Arizona Technology Council and the Foundation. She serves on the Selection Committee for Arizona Tech Angels, and was a director, School of Global Studies, ASU; the Arizona Tourism Board and President of the Arizona Business leadership Association. She served on numerous other boards, was a Presidential Delegate to the White House Conference on Small Business and served on the national SBDC board. Affiliate: Thomson Reuters Expert Witness Services.
Jacque J. Sokolov, M.D. is chairman and chief executive officer of SSB Solutions, Inc., a diversified US based healthcare company with four strategic business units: 1) SSB Solutions (Management Consulting/Advisory Services - 150+ markets); 2) SSB Investments (Private Healthcare Investment Fund); 3) SSB Financial Services/Healthcare Community Development Group-HCDG (New Markets Tax Credits, Opportunity Zone Development, etc.); and 4) SSB Governmental Services (Veteran’s Accountable Care Organization/Group-VACO/VACG, etc.). Following his formal training as an academic cardiologist, he started his career as Vice President for Healthcare and Chief Medical Officer for Southern California Edison Corporation (NYSE: EIX). Dr. Sokolov currently serves or has served in multiple board capacities for Public Companies including Hospira (NYSE: HSP), MedCath (NASDAQ: MDTH), and PhyAmerica (NYSE: ERDR); Private Companies including GlobalMed, Zoonie(SMG), MyHealthDirect, NeuLife Neurological Services (NeuLife), Calviri, AKOS, the Trill Project and SSB wholly owned companies; and Non Profit Organizations including Phoenix Children’s Hospital, The Health Futures Council at ASU, The Executive Committee of the Board of Councilors for the USC School of Pharmacy, The National Health Foundation, the American College of Medical Quality, the National Fund for Medical Education, and the National Business Group on Health and the White House Health Project.
Dr. Sokolov received his BA and MD Degrees from the University of Southern California. He completed his internal medicine residency at the Mayo Graduate School of Medicine and his fellowship in cardiovascular diseases from the University of Texas-Southwestern Medical School. He previously held and currently holds academic appointments and advisory board responsibilities in the Schools of Medicine, Business and Public Health at Harvard, the Massachusetts Institute of Technology, the University of Pennsylvania, the University of California, Los Angeles, and the University of Southern California.
Ashley S. Evans is a Principal in the Technology, Media, and Telecom (“TMT”) group based in Menlo Park. She primarily focuses on buyout and growth equity investments in larger software and information services businesses.
Since joining Carlyle in 2006, Ms. Evans has been actively involved with the firm's investments in DiscoverOrg, Veritas, Kinder Morgan (NYSE:KMI), PQ (sold to CCMP) and Veyance (sold to Continental). Prior to joining Carlyle, she was at Morgan Stanley. Ms. Evans is currently a member of the Board of Directors of DiscoverOrg and Veritas