Jessica Reece Discusses Board Mergers in BoardIQ

Managing multiple boards has become increasingly difficult due to regulatory challenges and an increase in oversight requirements.

Asset management partner Jessica Reece told BoardIQ that while it’s technically possible to consolidate two boards rapidly – within a matter of months – it’s better to take the time to make sure most of the group agrees with the outcome.

“My experience is that it can take many months, even a year or more,” Jessica said. “If you rush that process, that’s when you end up with unhappy factions.”

“Education is key. We spend a lot of time talking about education for new trustees, and that shouldn’t be lost when you’re doing a consolidation,” Jesscia added. “As the board is coming together, think about … how do we impart some institutional knowledge.”