Barbara Faulkenberry’s View from the Boardroom
Independent Director, Nomination & ESG Committee Chair - Callon Petroleum
Former Independent Director - Target Hospitality
Former Independent Director, Strategy & Risk Committee Chair, Technology Committee Chair - USA Truck, Inc.
What made you decide that you wanted to become a corporate board member?
As I retired from a 32-year career in the US Air Force, I wanted to keep intellectually engaged, and contribute to corporate America. My focus had been on setting a vision and then leading and inspiring young people in the organization to accomplish the mission. I felt there were many aspects of military leadership that could benefit a company - strategic planning, a focus on succession planning, ethical servant leadership, perspective on global operations, and geopolitical risks in a dynamic environment.
Once you decided to work on getting onto a corporate board, what were some of the first things you did?
I knew I needed education to best understand corporate governance, to focus on the most critical challenges facing boards at this time, and to network with an entirely different group of people. I took advantage of a variety of organizations - the National Association of Corporate Directors for outstanding education, Women in the Boardroom for advice and networking, and a number of others.
What has surprised you about the reality of board service versus the expectations you had going in?
While it didn't necessarily surprise me, any one who becomes a corporate director should realize the level of responsibility it requires. I've taken a board call from the back of an ambulance, and attended 32 meetings in a 6-month period as part of the Transaction Committee when we were in the process of selling a company. You don't miss board meetings. It is a significant responsibility, and directors need to be prepared to manage what comes - activist investors, M&A or a sell, crisis in leadership - the list goes on!
Complete this sentence: “I wish I had more time to…”
The point is, you'll always wish you had more time, and one day you won't. Serving on corporate boards is a significant responsibility. And it can be very rewarding, but sometimes frustrating. Just be sure that's how you want to spend your time.
