The Chair of the Board of Telmex, América Móvil, Grupo Carso, and Grupo Sanborns is invited to a session of the EGADE Business School Executive Education program.

By JOSÉ ÁNGEL DE LA PAZ | EGADE BUSINESS SCHOOL

Carlos Slim Domit met with participants of the EGADE Business School Executive Education Board Member Education Program, to share his experiences as a board member of various Mexican companies.

Answering a direct question from the attendees, the businessman talked about the qualities a board member should have.

“It depends on the company’s profile, but, in general, it should be a person who has an interest in the business, who undertakes, finds a way to contribute to improving it,” commented the Chair of the Board of Telmex, América Móvil, Grupo Carso and Grupo Sanborns.

In addition, Slim Domit stressed the value of the diversity and expertise that board members contribute to decision-making.

“The aim is for the board to have a variety of opinions, making it possible to touch on different points of the same decision, and question the financial decision, the creative vision in the case of new products or developments, or human resource issues regarding motivation or compensation programs,” he said.

Slim Domit highlighted the relevance of incorporating into the board people who are experts in specific areas, even if they are not entirely familiar with the business activity.

“A company such as Telmex, with, for example, huge technological dynamics, highly robust investment programs, a solid regulatory environment, a more sophisticated work environment, is not the same as an industrial firm with a single activity or marketing channel; so, it really depends on the company and the challenges it is dealing with to determine which approaches are the ones you need in a board of directors,” the son of businessman Carlos Slim Helú said.

The session, held remotely, enjoyed the participation of Juan Pablo Murra, Rector of Higher Education, Tecnológico de Monterrey; Jaime García Narro, Associate Dean of Executive Education, EGADE Business School, and Carlos Serrano, Director of the Board Member Education Program.

Targeting members of the Board of Directors, business owners, directors and executives, and strategic decision-makers, the Board Member Education program hones their competencies and provides specialized knowledge on how a Board of Directors function, including the reinvention of the business model, acquisition of companies as a growth strategy, and the successful continuance of the family business, among other key topics.