When one woman wins, it’s a win for all of us.
Executive and medical doctor Risa Lavizzo-Mourey was elected as an independent director at Intel Corporation effective March 2018. The 68-year-old healthy equity advocate serves as chair of the Corporate Governance & Nominating Committee. She is also a member of the Compensation Committee and Audit & Finance Committee.
Intel Corporation, a world leader in the design and manufacturing of central processing units and semiconductors, made the announcement on Monday, March 19, 2018.
“Risa knows how to lead a large organization tackling complex issues, and brings extensive public-company board experience. I look forward to her fresh insights and perspective,” Andy Bryant, former Intel Chairman, said in a statement. “We’ve worked to make sure the board has the right skills and backgrounds to be strong stewards in our dynamic industry. I’m honored to continue serving alongside them, as Intel transforms to create more value for our customers and our owners.”
Why You Should Know Dr. Risa Lavizzo-Mourey
Dr. Risa is a world-renowned expert in health policy and geriatric medicine. She is former CEO and President of the Robert Wood Johnson Foundation (RWJF), the largest U.S. philanthropy organization dedicated to health. She held the position from 2003 to 2017. Since January 2018, she has served as the Robert Wood Johnson Foundation PIK Professor of Health Policy and Health Equity at the University of Pennsylvania.
“Whether leading one of the nation’s largest health-care philanthropies, advising the White House on health policy or publishing prolifically in some of the world’s most influential medical journals, Risa Lavizzo-Mourey is an eminent interdisciplinary change-maker,” Penn President Amy Gutmann said in a statement. “Her exemplary contributions to geriatrics and other health fields are matched by her devotion to promoting lasting social change and improving the health of all people. We are delighted to welcome home this truly exceptional scholar, clinician, leader and Penn alumna.”
Dr. Risa is not a stranger to board leadership. She is a member of the boards of General Electric Co., Merck, Better Therapeautics. She previously served as a director at Hess Corp, Genworth Financial Inc. and Beckman Coulter Inc.
Risa graduated from the Wharton School of the University of Pennsylvania’s with an MBA in health care administration and received her M.D. from Harvard Medical School. She has been a member of the National Academy of Medicine since 1997. In September 2021, she was recognized as the recipient of the 2021 Gustav O. Lienhard Award for Advancement of Health Care. She was presented with a medal and $40,000 at the National Academy of Medicine’s virtual annual meeting on Oct. 17.
How to Land a Paid Corporate Board Position
There are three common ingredients that you will see when looking at members of a company’s board of directors: leadership, expertise, business acumen.
Dr. Risa has showcased her expertise and business acumen by serving as a leader at the largest U.S. philanthropy organization dedicated to health. She appeared on Modern Healthcare’s one hundred most influential people in health care over 10 times and was recognized on Forbes’ list of the most important women in the world eight times.
Lavizzo-Mourey was the recipient of twenty honorary doctorates from a variety of institutions, including:
- Brown University
- University of Pennsylvania
- Tufts University
- Morehouse School of Medicine
- Meharry Medical College
- Charles R. Drew University of Medicine and Science
How Much Does Risa Earn as a Board of Director at Intel?
Dr. Risa has been on the board of Intel since March 14, 2018.
According to Intel’s DEF 14A for fiscal year 2021, Dr. Risa received $123,800 (fees earned or paid in cash). Her stock awards are worth $304,800. She was granted 1,993 restricted stock units on January 30, 2021 in lieu of her annual cash retainer for 2020.
The Intel Foundation made a $10,000 matching charitable contribution on behalf of Dr. Risa. Directors’ charitable contributions to schools and universities that meet the guidelines of Intel’s employee charitable matching gift program are eligible for matching funds.
Below is a snapshot of Intel’s latest 14A so that you can get a behind the scenes picture of director compensation.
Find the Skills that Matter Most
When developing your career plan and prepping for board seats, it’s important to understand the skills and experience that matter most to the companies on your radar.
If you are looking to sit on the board of a company like Intel, here are the skills you should add to your toolkit:
- Senior Leadership
- Global/International
- Industry and IT/Technical
- Financial Expertise
- Human Capital
- Operating and Manufacturing
- Sales, Marketing, and Brand Management
- Emerging Technologies and Business Models
- Business Development and M&A
- Cybersecurity/Information Security
- Government, Legal, and Regulatory
- Public Company Board
The two skill categories that are rare among board members include financial expertise and government, legal, and regulatory. One skill that everyone can develop to increase their chances of board leadership is to increase their financial acumen, specifically learning how to read financial statements.
The board of directors typically meet once a quarter to talk about broad strategic issues. These conversations can include discussions about strategic business acquisitions, stock buybacks, the company’s borrowing policy, and primary investors. Simply put, a board talks about finance. Finance involves identifying what things a company needs, how to get the money to buy those things, and managing those things efficiently.
In order to add value during meetings, you need to understand financial statements to uncover any gaps or opportunities in the company’s financial performance.
Join us for our next VIRTUAL Financial Statement Bootcamp in February, May, August, and November. You will get 1-Full Year of Access to all training materials and LIVE bootcamp sessions. For more updates, join Behind the Board newsletter on Substack.
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