Expect 2024 to Reveal Who is Ready to Lead

Dear Clients and Friends,

2023 was a dynamic and transformative year across the corporate landscape, and so far, we expect this trend to continue in 2024. Leadership in the boardroom and C-Suite has never been more indispensable. From our beginnings as a boutique board advisory firm, to our evolution into a “boardroom-centric” search firm, we are incredibly proud to work with so many companies that believe that great leadership is a competitive advantage, and with candidates who have a genuine and positive impact on the world around them.

One of the ways we celebrate great leadership is with the Russell S. Reynolds, Jr. Chair of the Year Award. The Chair of the Year Award was established in 2023 to celebrate the legacy of Russ Reynolds, an icon of the executive search and board recruiting industry. The award recognizes a Chair who successfully led a Board of Directors through significant business or governance challenges. As featured in Fortune magazine, the inaugural award was presented to Sarah Nash, Chair of Bath & Body Works, at our annual Directors Dinner in New York in October. We were delighted to recognize Sarah’s extraordinary leadership and character. We hope that many of you will nominate a Chair for the award this year and join us at our Directors Dinner in October.

Our Board practice continues to anchor the firm’s activities and provide enhanced insights and connectivity to assist our executive searches across our core practice areas (Asset ManagementConsumer, and Industrial Technology). Our collaborative approach – a hallmark of our firm – helped bring to light some of the trends we expect to be explored by boards and C-Suite leadership teams in 2024:

We look forward to continuing to assist our clients with their most important, complex, and sensitive leadership and governance concerns in 2024. We believe that RSR Partners is uniquely situated in the industry to provide unparalleled access and insight into top-performing business leaders. In addition to our board recruiting capabilities, we offer our clients a broad set of other Board and CEO services. Should you have any important board or C-Suite leadership needs in the coming year, we would be delighted to share our capabilities and expertise to help you. More importantly, we look forward to our continued friendship with you all. 

With gratitude,

Barrett J. Stephens
Chief Executive Officer
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A Small Firm with Big Results

When Russ Reynolds founded our firm back in 1994, he knew that “bigger isn’t always better.” And so, he purposely created a boutique firm with a truly collaborative and client first culture, and with a goal of providing our clients with “high touch” service and unbiased advice. We started out in the boardroom, focusing our efforts on recruiting directors. As would later be the case with all of our practices, senior members of our board practice would lead and execute every engagement and handle all candidate interface, assessments, references, and client interaction. Russ anticipated that staying small would prove to have a big and lasting positive impact on our clients and help preserve our client service culture as the firm evolved. He was right. For the past 30 years and still today, we have consistently achieved, and often exceeded, our clients’ recruiting objectives, and have successfully maintained long-lasting and meaningful relationships with them. While we have expanded our offerings to include executive search and a variety of advisory services, board recruiting continues to be at the core of what we do.

The demand for outstanding director talent is as high as ever. This is especially the case when considering corporate boards’ ongoing efforts to maintain the right mix of skills and experience and the right balance of gender and ethnic diversity in their ranks in order to enable them to stay ahead of an everchanging world in which their respective companies compete. Often, boards encounter supply and demand imbalances for certain types of candidates they seek. That’s why it is very important that the board recruiting firm can guarantee access to any and all relevant candidates without any exceptions. That is a promise that we have continued to keep with our clients since our firm’s founding. Given our firm’s size and structure, we purposely conduct a limited and distinct number of search assignments at any given time, and our engagement review and acceptance process ensures that at RSR Partners, there is no competition for candidates amongst our clients.

Our extensive candidate sourcing network continues to expand and advance. We utilize our own database, social networking tools, and other internet-based candidate search technologies (e.g., LinkedIn, BoardEx, etc.) that have leveled the playing field between boutiques and large firms when it comes to candidate identification. All partners from all practices are engaged as well for candidate ideas. As such, we have the ability to identify most any candidate who aligns well with a given profile.

The benefits associated with partnering with us to achieve our clients’ most important recruiting objectives are no better reflected than in the continued success we have had in achieving our clients’ diversity objectives. Since 2021, 86% of our board placements were either gender and/or ethnically diverse (it’s important to point out that diversity was one of a number of criteria each of these placements met).

As a small and agile team, we are also known for our thorough and rapid kick-starts to board recruiting assignments. We have always strived to complete our board searches within four to five months. There have been times when searches have taken longer than anticipated, but we have always completed our assignments and have amassed a 100% placed candidate “stick rate” along the way.

If I had to point to one step in the board search process that we have learned goes a long way toward ensuring a successful outcome, it would be to put a great deal of thought and effort at the beginning of the process into creating the candidate profile. This candidate profile development process should be a collaborative undertaking between the board and their search firm, and it can be completed in a short period of time. It starts with reviewing the director skills and experience matrix in the proxy and interviewing each member of the client’s Board, their Chairman, CEO and, depending on the nature of the search, certain members of the executive leadership team. Interviews focus on what skills and experience are needed in the next director and why, as well as the characteristics that make for a great cultural and chemistry fit on the board. Then, we undertake a comparison of what criteria the board currently possesses and identify gaps, which in turn, helps to refine the candidate profile. It is important to note that the matrix in proxies does not always provide an accurate picture of the degree to which skills and experience reside on the board (i.e., checking the box versus specifying the strength of a particular skill or experience each director indicates they possess using a 1,2 or 3 rating.) The interview process is therefore helpful on several fronts – it provides a deeper understanding of skills and experience that all the directors contribute, determines what the board is looking for in its next director, and creates alignment amongst the board members around the candidate profile.

Before finalizing the candidate profile, we typically review five to ten candidate ideas with our client to get their feedback and confirm we are in agreement. Sometimes adjustments are made after the client has the opportunity to see how the profile on paper materializes in viable candidates. The goal being to create a profile that is both on target and realistic. So, when clients commit to undertaking our candidate profile development process, it almost always leads to a more successful outcome.

As the leader of RSR’s Board Practice for almost two decades, I am proud of our track record in assisting a wide variety of clients – from start-ups and private companies to Fortune 50 corporations – in achieving their board recruiting objectives. We look forward to continuing to partner with existing and new clients and staying true to the principles that Russ established in the early days of our firm:

We continue to be a small firm with big results.

# # #

Carter Burgess is head of the firm’s Board Recruiting practice and a senior member of the Board & CEO Services team. As practice leader, he focuses on director searches, the build-out of entire boards, comprehensive board composition analyses, multi-year succession planning strategies, and board performance assessments for companies in a broad array of industries.

RSR Partners is a boutique professional services firm headquartered in Greenwich, CT, that specializes in helping Boards and CEOs with their most critical recruiting, selection, and succession needs. The firm was founded in 1994 by industry icon Russell S. Reynolds, Jr. The firm has conducted thousands of projects for Boards and CEOs at public, private equity-backed, and family-owned businesses across a range of industries including asset management, consumer goods and services, industrial, technology, and healthcare.

Asset Management Year-End Newsletter

Grateful. Thankful. Optimistic.

Given the turmoil in the world around us, we can’t help but be more reflective and thankful at this time of year. We are grateful for family and the relationships in our lives. We are thankful for our wonderful clients and those candidates with whom we have partnered. We are optimistic about the new year ahead of us.

As another successful year in search concludes and we look back on 2023, we are sharing below some observations made during the course of our work. We always welcome a conversation with you whether it’s a quick hello or to discuss any specific needs of your organization. Our team looks forward to staying in touch in 2024!







Independent Trustees
for $150B Mutual Fund Board
Executive Chairman
for $30B OCIO
for $1B Endowment
for $14B Endowment
for Family Office for a Technology Billionaire
Managing Director, Public Investments
for $3.5B Foundation
Director of Portfolio Analytics
for $8B Endowment
for a $3B Foundation
Senior Investment Manager, Private Investments
for $25B Endowment
Managing Director, Private Investments
for $4B Foundation
Independent Trustees
for $450B Mutual Fund Board
Managing Director of Public Investments
for a Private Investment Fund/Family Office
for Family Office for a Technology Billionaire
Director of Healthcare Investing
for $8B Endowment
Head of Client Portfolio Management
for $50B Private Bank/wealth manager
Director of Finance
for Family Office for a Private Equity Firm Founder
Investment Officer
for $50B Wealth Manager
Independent Trustee
for $100B Mutual Fund Board
Investment Director – Operations
for $8B Foundation
Co-Head of Research
for $50B Wealth Manager
Director of Operational Due Diligence
for $20B Foundation
Heads of Marketing and of National Accounts
for a $1T+ Global Asset Manager
for a $11B Secondary Private Equity Firm
for Multi-Billion-Dollar Family Office

RSR Partners Establishes Chair of the Year Award

Annual Award Named After Russell S. Reynolds, Jr.

Greenwich, CT, June 8, 2023 RSR Partners, a leading board and executive search firm, announced today that it has established the Russell S. Reynolds, Jr. Chair of the Year Award. The award will annually recognize the Chair of a public company’s Board of Directors that has successfully led the board through significant business or governance challenges. The award celebrates the legacy of Russell S. Reynolds, Jr. (“Russ”), who has spent more than 50 years advising boards and CEOs on leadership and governance.

“I am honored that this award will become an annual way of recognizing exceptional board leadership,” said Russ. “The real trick in selecting great board leaders is not only focusing on their experience and specific skill sets, but on whether they have the foresight, curiosity, character, and courage to lead.”

The winner of the award will be chosen by an independent committee comprised of renowned experts in the areas of strategy, finance, strategic communications, shareholder activism defense, investment management, human capital consulting, and corporate governance. The committee includes:

“Russ has observed how highly effective boards and CEOs operate during their most seminal moments,” stated Brett Stephens, Chief Executive Officer of RSR Partners. “There is no better way to honor Russ’ innate talent for identifying and evaluating leaders than with an award in his name that recognizes the incredible impact a Chair can have on an organization’s leadership and long-term success.”

Public company directors will be invited to submit their recommendations beginning June 8th. Any Chair of a board of directors at a U.S. public company with revenue or market cap greater than $1 billion may be nominated. The award winner will have successfully led the board and executive team through a significant business or corporate governance challenge. The inaugural winner will be announced in October at RSR Partners’ Annual Directors Dinner in New York City. Information about the award can be found at: www.chairoftheyearaward.com.

About Russell S. Reynolds, Jr.

Russell S. Reynolds, Jr. (“Russ”) is an American business executive, author, and founder of two of the search industry’s most prominent firms. Considered one of the pioneers of today’s executive search and board recruiting profession, Russ has counseled the boards and CEOs of many of the world’s leading companies over the past 50 years. In 1969, he founded Russell Reynolds Associates, which soon became one of the world’s leading international executive recruiting firms. Russ sold his interest in the firm in 1993. In 1994, Russ founded the Directorship Group (later named RSR Partners) where he served as Founder and Chairman until 2022.


Lindsay Griesmeyer
+1 (203) 618-7076

Top 3 Things Leaders Need to Consider for Digital Transformation

Over the past few years, digital transformation has dramatically impacted the business landscape. This evolution is only intensifying in terms of need and speed – especially as we enter the age of AI. As organizations and leadership teams pivot to learn and adapt, the difference between success and failure may be determined by whether organizations are market leaders or market followers. It’s therefore critical to be ready for how digital transformation may impact your business, and even more crucial to be sure your team can embrace and leverage digitalization when the opportunities arise.

How can organizations and leaders determine that their teams are ready?

Human capital is critical. First, the right leadership team should be in place to gain the trust and buy in of the employees, stakeholders, and customers. Next, consider whether you have the right talent and resources to implement the transformation. Finally, consider the need to create and sustain the “new” culture through scaling the business.

1) Is your leadership team ready?

In speaking with organizations about their leadership needs, we often hear that they need to hire an executive to strategize and execute a digital transformation. Since digital transformation often requires coordination across functions, it can be a challenge for a new executive to gain the buy-in necessary to achieve their goals.

Additionally, what problems are you trying to solve? In today’s customer-centric environment, it is critical to listen to the needs of your customer. Be sure you can explain the transformation and why it benefits the customer, and how it will enhance the customer experience and brand loyalty.

2) Does your organization have the talent and the resources?

When answering this question, it is critical to consider two factors – financial capital and human capital. With financial capital, it’s vital to fully assess the current state of the business, devise a plan including a timeline, budget, and resources. Is this achievable? What needs to change or shift?

It may also be a good time to assess the talent that will be on the front lines of the transformation and whether they are open and excited about being a change agent. Do they have the skills required to understand whatever is required of your digital transformation- whether it’s an appreciation of data analytics, cloud computing, SaaS platforms, AI, software development, and cyber security skills.

3) Can your culture sustain the digital transformation?

There must be an environment of trust and transparency built into the culture as well a more agile and innovation mindset and if not, the digital transformation will not be sustainable. If this is an issue you face, identify what resources you need to help shift the culture and get buy-in both internally and externally.

Additionally, consider if your organization has the resources to scale and grow. Digital transformation will bring efficiencies, speed to market, cost savings, and growth. The key is to plan for the growth and appropriately resource for the growth both from a financial and human capital perspective.

Too often an organization is led through the transformation and the infrastructure of the organization cannot handle the change and rapid growth. The organization ultimately decides to go back to their legacy business model. Unfortunately, this is not fair to the executives, the employees, and certainly does not reflect well for the organization in the marketplace and with their customers.

As these digital times continue to evolve, your organization should, too.

# # #

Kimberly Melcer leads the firm’s Marketing & Digital practice. She specializes in identifying leaders with digital transformation capabilities across the C-Suite, and especially within the marketing function. She works with start-ups, privately held, and public organizations. She has extensive experience within the AdTech, MarTech, and broader consumer and marketing services industries.

RSR Partners is a boutique professional services firm headquartered in Greenwich, CT, that specializes in helping Boards and CEOs with their most critical recruiting, selection, and succession needs. The firm was founded in 1994 by industry icon, Russell S. Reynolds, Jr. The firm has conducted thousands of projects for Boards and CEOs at public, private equity backed, and family-owned businesses across a range of industries including asset management, consumer goods and services, industrial, technology, and healthcare. To learn more about RSR Partners, click here.