SPMB Partner and DEI Leader Allison Beach recently sat down with Karen Walker to discuss the critical importance of board diversity and share insights for both current and aspiring board members. Enclosed below is a summary of their conversation.
Karen Walker is a globally recognized business leader with over 30 years of technology leadership experience across consumer and enterprise markets. As former Senior Vice President and Chief Marketing Officer at Intel Corporation, she led brand building and growth strategies in new and existing markets. During her tenure as Cisco’s CMO, she played a pivotal role in transforming the company into a software/cloud services leader, increasing brand value by 16% to $34.6B and spearheading the company’s most successful product launch.
A two-time Forbes “Top 10 Most Influential Global CMO” honoree and recipient of the National Diversity Council’s “Top 100 Women in Business Award,” Karen has served on the board of Eli Lilly for six years and remains a trusted advisor on digital and commercialization strategies. She also serves on the board of Sprout Social, which she supported through their IPO. She is currently the Chair of the Nom/Gov Committee. She is also an investor, advisor and board member of several private high growth companies. Karen remains dedicated to building the next generation of leaders, particularly advocating for women in STEM. Her global perspective, shaped by leading teams across the U.K., Asia, and the Americas, brings unique insight to this discussion on board diversity and leadership.
Women hold 23.3% of board seats globally, and 25.8% at large- and mid-cap companies in 2023. What can technology companies do to address gender disparity in board roles? How should we think about identifying and removing barriers that exclude women Directors?
Karen: We need to think about diversity more holistically – not just regarding gender and race, but in thought and experience. The current disparity partly reflects the percentage of women in C-suite roles, particularly CEO and CFO positions, creating a self-fulfilling prophecy. Typically, a CEO or CFO experience is most attractive to join a board, and most CEOs and CFOs are men.
Boards should think beyond traditional financial expertise, and look to where there is more female representation in the C suite. GTM leaders can provide valuable customer voice and insights on commercialization and scaling growth. HR leaders bring crucial perspectives on compensation, talent, and culture. A legal background could provide insight into enterprise risk management. However, these roles can be less defined and vary across companies, so they can be overlooked when it comes to a board seat. The chairperson needs to understand these nuances. For example, as a CMO, my role encompassed investor relations, corporate affairs, and defining customer experience.
The key is maintaining an open mindset and recognizing that different profiles can add unique value to boards.
How have you approached advocating for yourself throughout your career, especially in spaces where you may have felt outnumbered or less visible?
Karen: I learned early in my career how to navigate non-diverse environments – in my undergraduate chemistry program, only four women were in a class of 200. I developed specific skills and techniques for how to show up effectively. Using humor helps, as does finding common ground with others. In my case, my love of sports helped bridge gaps.
What surprised you the most about your first board role?
Karen: The learning curve around committee work was significant. I received coaching about how to show up effectively in committees. There was pressure to avoid asking questions that might derail conversations or take discussions backward.
What advice would you give someone stepping into a board position for the first time?
Karen: Several key points:
If you’re a woman stepping into this role for the first time, recognize that women often hold themselves to an extremely high bar. Learn to take credit for your contributions and amplify your points politely and constructively. When others talk over you, find ways to maintain physical presence.
I’m making general statements, but women tend to question themselves before we speak up. My advice is to listen well and more than you speak, ensuring your contributions are meaningful. Remember that you’re operating as an individual contributor, not with your usual team support. Your judgment and the questions you ask become your most valuable tools.
Prepare thoroughly – read materials beforehand and don’t try to wing it. Request comprehensive onboarding and take time to understand every business unit. Expect to put in work beyond just showing up for meetings, including travel and conference attendance.
Build relationships with other board members. Consider asking one to be your mentor or “buddy”; someone who will compliment your skill set well. When choosing a company and space for board service, remember it’s a privilege, honor, and a long-term commitment. Focus on areas you’re passionate about and where you feel you can make a meaningful impact.
Remember the “nose in, hands out” principle – maintain appropriate inquiry and constructive challenge while respecting management’s role.
How have you seen the conversation around gender diversity evolve in the boardroom?
Karen: While there’s more detailed discussion around governance and diversity, we still must advocate for progress. I hope my daughter’s generation won’t need to have these same conversations. The hope is that it will be expected. I’m seeing an increasing embrace of diversity, and boards bringing in people from different audiences that the existing board may not understand; this increase in focus is significant to see.
How can executive search partners continue growing diverse board networks?
Karen: Whether working with executive search firms or internal teams, it’s crucial to consider the complete construct of the board – age, skill set, gender, and broader DNA/experience. Take a balanced view and maintain an open perspective. Consider socioeconomic perspectives as well.
One often underestimated aspect is the customer viewpoint. Boards should ensure they have members who can effectively represent and understand this perspective, as the viewpoints and end users are diverse.
As organizations continue to evolve their board composition to meet today’s complex business challenges, SPMB partners with companies to identify and secure exceptional board talent that brings diversity of thought and experience. Our deep expertise in board placement and our commitment to advancing diversity in leadership positions us to help organizations build boards that drive innovation and sustainable growth. To learn more about how SPMB can support your board development initiatives, visit us at SPMB.com.
