Position: Director of Investor and Media Relations (newly created position) Client #P15348, Puget Sound WA
Status: Position open, interviewing candidates.
Company: Technology and Transportation, NASDAQ
Reporting to: Treasurer
Responsibilities:
Investor Relations
--Maximize the value of Company stock by communicating effectively with institutional investors (security analysts, pension fund managers, money managers, mutual fund managers), large individual investors, and stockbrokers via investor conferences, teleconference calls, company-sponsored meetings, plant tours and one-on-one meetings, as appropriate.
--Communicate the Company’s strategies in an accurate and balanced manner, ensuring management credibility is maintained and that all SEC reporting requirements are met.
--Differentiate Company stock versus alternative investment options by highlighting its competitive advantages, market position and corporate strategies.
--Develop and implement strategies to identify and attract new investors which fit an appropriate profile and retain existing investors.
--Advise and consult with executive management recommending IR strategies, key measures and courses of action to address shareholder issues, and communicate external perceptions of the Company to executive management.
--Maintain accurate lists of shareholders, monitoring changes in ownership of significant holders.
--Perform liaison duties with key NASDAQ representatives.
Media Relations
Direct development, coordination and execution of short and long range public relations strategies, objectives, plans and programs. Develop publicity programs to place ‘positive news’ supporting key company initiatives, marketing efforts, new business ventures, philanthropic efforts, etc.
--Direct consideration, development and execution of local and national institutional advertising to promote the Company. Establish and maintain favorable relations with all media (local, national and international) including newspapers, news services, professional journalists, radio, TV and business magazines. Direct the development, production and distribution of the Annual Report and quarterly financial releases. Ensure all public releases meet disclosure requirements and conform to SEC regulations.
--Develop the strategy and content of the IR section of the Company web-site. Participate as appropriate in directing crisis communications/contingency plan, monitoring the issues that have the potential to develop into negative situations.
Background, Experience and Qualifications
Five to ten years of related experience, working closely with the investment community and/or the media; Exposure to the industrial sector; Outstanding written and verbal presentation skills; Impeccable level of integrity and credibility; Capable of interacting with all levels of management; Proven financial analytical skills; Advanced Degree (MBA or Communications)
Position: Senior Director, Investor Relations
Location: Pacific Northwest
Company: CLIENT#C15346
Status: Finalists selected. Resumes accepted for consideration
Company: BioPharmaceutical, both Nasdaq and MTAX traded (Italy).
Reporting to: Executive Vice President, Corporate Communications with direct access to the President and CEO
Resources: In Europe, an Investor Relations Representative is the day to day contact with guidance from the communications staff. Consulting services have been retained at headquarters.
About the Position
The Senior Director, International Investor Relations is a newly redefined position reflecting the majority ownership of shares in Italy and the need to meet disclosure requirements and communicate with shareholders in the US, primarily Italy and Europe. The Senior Director reports to the EVP, Corporate Communications and has direct access to the leadership team including the President and CEO. Investor Relations messaging is fully integrated into the communications strategy for the company.
The Senior Director will be a thoughtful contributor and advisor to the leadership of the organization and will be fully versed in meeting disclosure requirements. S/he will be the IR expert about the complexities of financial reporting in the US, Italy (and Europe) in collaboration with finance and legal counsel representatives. In addition, the position requires consultative and strategic capabilities, well beyond tactical skills.
S/he will function in a collaborative and collegial manner with Finance, Clinical/Regulatory, Legal and the office of the President. The Senior Director will lead the development of strategy, operating plans, budgets and the tactical execution of the Investor Relations Program. S/he will be the individual who manages the company reputation with shareholders, and is the primary point of contact in the US for institutional and retail investors and analysts. The Senior Director will oversee the IR representative in Europe responsible for those contacts.
Educational Background, Skills and Experience
The ideal candidate will have an undergraduate degree preferably in business, English or the life sciences with an advanced degree in finance preferred. S/he will have a minimum of 15 years of experience with a minimum of 8 in Investor Relations with some corporate communications work/exposure.
The Senior Director will have experience in the Bio/Life Sciences/Pharmaceutical industry. Prior work in International IR would be helpful. Also, responsibility for developing and executing IR programs relating to product commercialization would be helpful.
S/he will be an excellent thinker, strategist and writer.
The finalist should have the attitude and knowledge of an astute business executive, and should identify with company objectives first and develop IR plans in support of organizational/business goals. Since resources are limited, the Senior Director will be expected to implement programs and produce excellent work. S/he will demonstrate those strengths through a career path that indicates a steady increase in responsibility. S/he will also provide samples demonstrating programmatic thinking as well as examples of quality financial documents.
Prior experience shaping an IR function and demonstrating an ability to work both at the strategic and tactical levels would be very desirable. Managing a small team and outside resources would be an advantage. Life Sciences/Pharma experience required.
For potential candidates, an in-depth 7-page job description is available. Contact: Judy Cushman, Judith Cushman & Associates, Retained Search, Bellevue, WA 98008; 425 392 8660, jcushman@jc-a.com.

The Cushman Report
Communications and Investor Relations career trends
March/April 2008 Edition
The C-level or aspiring to C-level resume: a challenge of a higher order, by Judy Cushman, President, Judith Cushman & Associates, Consulting and Retained Search for Communications and IR positions, jcushman@jc-a.com, (425) 392-8660, www.jc-a.com.
• • • • • • • • • • • • • • • • • • • CUSHMAN REPORT TOPICS
THE C-LEVEL OR ASPIRING TO C-LEVEL RESUME: A CHALLENGE OF A HIGHER ORDER
THE AH-HA ABOUT RESUMES
JOB POSTINGS
• • • • • • • • • • • • • • • • • • • CUSHMAN REPORT TOPICS

Here are the first 2 articles in a series I’m writing about the recruiting and search process from the perspective of the executive level candidate.

The first topic in the series is about resumes and is in two parts. The first article is how to write a “C” level resume that telegraphs you are ready to be a contender for a Chief Communications/ Chief Investor Relations Officer or that you are already performing at that level. It seems that no matter how high the level or how excellent you are, the resume fails to make the case about why you should be hired for your next job.

The second is an article I wrote about why resumes in general are so terrible. This is a basic “how to fix it” for managers at all levels and is called the, “Ah Ha About Resumes.” 

In the following months, I will be writing with some humor and frustration about a variety of issues and hoops the “C” level candidate can expect to jump through in the recruiting process (see list below) on his/her way to the top job. I will also comment on market conditions in my next newsletter. If you would like me to address additional topics, send an email with your ideas.

--The executive interviews from the first recruiter contact to the two lunch interviews: one with the recruiter and the second with the leadership team sizing you up for the Chairman. This is not a story about food.

--The do’s and don’ts about executive interviews; what is not a good topic to discuss and how to be prepared. How should a “C” level candidate engage managers at the leadership level (who are not communication or IR executives)?

--Negotiating for a total compensation package without appearing to negotiate for a package

--Negotiating around an offer: the mistakes both clients and candidates make. Sometimes it is a matter of dumb luck that the “deal” works

--When corporate common sense comes toe to toe with real world common sense at the offer stage. Are we speaking the same language? Is there a values gap?

--Two approaches to offers: the meeting of the minds, or “putting a stake in the ground” and walking away (if necessary)

--The reluctant candidate. When the CEO’s headhunter takes you to lunch, you are being stalked by an expert. Are you ready for the game?

--The psychological stages of the search process and when it is normal to have cold feet (but continue anyway)

--The art and science of references and what they cannot reveal

--How to read the tea leaves and know just how serious a candidate you are in the search process (what Human Resource Managers will never say)

--A variety of tips about how to tap all your resources when you are considering a job change. One in particular is how to ask your industry contacts for constructive help and introductions in a way that manages their responses, without overburdening them.

THE C-LEVEL OR ASPIRING TO C-LEVEL RESUME: A CHALLENGE OF A HIGHER ORDER

For a senior Communications or IR executive wanting to distance him/herself from the excellent and talented implementers at the Director level, and join the rarified world of Chief Communications (CCO) or Chief Investor Relations Officers (CIRO), developing an effective resume is a challenge of a whole new order.

In my article called the “Ah Ha” about resumes (below), I bemoan how poorly written the resumes of communications/Investor Relations experts are. (Despite their expertise in representing their clients, professionals do a terrible job of presenting themselves.) This is the base line advice that applies to resumes written by practitioners at all levels. Senior executives have an even bigger challenge because they are not judged by tactics or by what they DO at the C-level. It is more about who they are, their judgment, business savvy and chemistry. If the “doing” were in question, the candidate would not be at the starting gate.

Questions a “C” level resume must answer

Trying to create a resume that makes the point, “I have arrived and merit being at this level” reveals a gaping blind spot, called, “I don’t know how to explain how I became a success.” Another difficult yet essential question to answer is, “How can I present my talents clearly and impressively?”

And, along those same lines, does a CCO have a strategy to answer the implied question, “What can I say about me without sounding self-centered?” (Can I craft responses to these questions so that the hiring manager or the first level “gatekeeper”/screener finds what I have to say is compelling and relevant?)  

How can an aspiring or “arrived” CCO or CIRO answer this key question through the narrative in the resume: “Am I ready to attend a meeting with the CEO and add value to the conversation?”

The easy way out for a lucky few is that they are recognizably in the “C” slot and simply listing their titles, reporting level and company affiliations are shorthand for saying, “I’m where I need to be.” The often heard remark when calling a candidate (about a new position) who is at this level and not on the market is, “I haven’t written a formal resume and what I have is an informal update.” That comment implies that the individual does not need to produce a well-crafted resume. This casually prepared document is sufficient to get him/her an introduction to the hiring organization. In my opinion, the discipline and rigor required to produce an effective resume are critical elements to winning a “C” level position.

The resume is not about what you have done

The overall impression a resume should leave is not that you have “done it all” but rather that you are a leader with vision and a contributor to the business strategy of the organization. You have accomplished that by mobilizing the corporate communications and/or the IR functions at a strategic level to support the business. And, you are focused on meeting objectives and getting the job done. So, how can we answer these tough questions?

Let’s begin at the end point of this story, which is about the company, and work our way back to your role as told in the resume. It is essential to know what the strategic goals of the organization are and my suggestion is to talk about the top 3. Be prepared to describe the company briefly in order to put the strategy in context. Once those 3 goals are listed, talk about the communications and IR roles and how they mesh with the overall plan. Comment about resources and budgets. If you were very efficient at extracting value from limited resources, that is relevant.

Discuss the process and decisions that you were responsible for and the results. If you were instituting new approaches or finding new solutions to solve existing issues that were innovative or original, this would be valuable information to establish you as a strategic contributor/problem solver.

If you built a department and expanded your team over time or found ways to broaden the scope of your work, that would one way to make your point about the level of contribution. Your reporting relationship is critical. Did you join the company reporting to a middle manager and work your way to a de facto direct report to the President or CEO? Who hired you?

Your true reporting lines

In some organizations the IR or Communications function reports to an Administrative officer but the hiring process takes the incumbent up to the CEO. That is a true signal about the value of the function within the organization and is legitimate to mention in the narrative. Has your title changed? Have you been granted “key employee stock options?” That indicates how highly you are thought of. These are facts of your situation and are important to weave into the narrative under each position.

Discuss how you were able to convince your leadership that your solutions would solve company problems or would defuse difficult situations. Talk about what meetings you attended and presentations you made to committees of the Board or the full Board. Do you travel with the CEO, President, CFO or other senior officers? Do you arrange Board receptions and attend major quasi-social events over breakfast, lunch or dinner? This tells us that you know how to handle the nuances of social business communication.

Routes to the top job

Proving your value as a “right hand” to the President/CEO is a direct route to the top job in a company. These opportunities develop often in fluid, informal environments where quick thinking and action are required. Media crises, hostile takeover situations are the most often mentioned as moments when a Corporate Communications or IR officer gained the trust of the Board. Stories describing these moments establish your ability to deliver results in the most stressful of times and are highly sought after capabilities.

The global nature of business provides an opportunity for a well-educated, multi-lingual executive to describe how s/he orchestrated programs internationally. This is yet another element that is growing in importance for a leadership-level hire.

A two-page resume

It is essential that the resume be no longer than 2 pages. It must be as crisp and powerful as the experience you are describing. It is not about squeezing in many lists about your expertise and specific tasks you have accomplished. As with resumes in general, I prefer the reverse chronological order with brief “stories” about your accomplishments listed under each position. 

How to pare down to the essential elements of your career successes is challenging. Some executives start by recording all of the major jobs held and the duties and responsibilities along with details about specific successful projects. This is the raw material that is whittled down to the true highlights. If, practically speaking your last two or three jobs are what will get you your next assignment, focus on those and briefly mention the other positions simply to fill in the work history.

Answering the tough question

Let’s now go back to the tough question that most senior officers can’t answer about why they are successful and why they have trouble talking about success (without seeming self-centered). I think there are many executives who have refined their instincts because they are smart and observant. They have learned to be politically astute and savvy about how decisions are made in large organizations. They are very bright in a practical (not academic or theoretical) way and have a certain degree of poise and charisma. They are naturally positive and have the energy and enthusiasm to “get the job done.” These performers are successful from the get go and take their success as “normal.” They “win” regularly and expect to do well.

Rather than saying in a resume, “I am your “A” candidate;” these successful professionals need to focus on the story of their careers progressing precociously through a series of more and more important jobs. The titles move quickly from junior-level manager to Senior Manager to Director and above. However, while it is inappropriate to say, “I am an excellent candidate” in a resume, when asked, the job seeker should have a clear answer about the reasons for his/her success. A lame comment about luck and being in the right place at the right time will undermine the entire process. Work on a response that talks about accomplishments, fitting in elements of the strategy of the organization, work ethic and a passion for what you do.

From senior agency to top corporate jobs – a difficult transition

Senior Agency or professionals from consulting firms find transitioning to “C” level positions challenging.  The career paths of successful agency professionals who move to corporate jobs and up to “C” level posts happens most easily at the Agency Director or Manager level. This is when the tactical and project management skills honed at the agency most naturally fit the corporate structure.

As consultants progress into leadership roles, the emphasis is on building client business and increasing billings. Agencies, while developing excellent relationships with corporate clients, are innately project oriented and contract focused. When an agency executive tells me s/he wishes to transition to a corporate position, and then sends me a resume highlighting her/his success in increasing billings, I know they do not have the right mindset.

Corporate success is long term and fundamentally not project oriented. Increasing billings do not translate into a goal that applies to a corporate communications department. The bridge that the resume needs to build should talk about developing client relationships, helping solve problems and adding a fresh perspective to the work to be accomplished.

Now, here is a basic article about how to prepare a resume. I welcome your comments and observations.

THE “AH HA” ABOUT RESUMES

“ Why Are Resumes So Bad?”

I have asked myself hundreds of times, “Why are resumes so bad?” This is particularly embarrassing for Communications and Investor Relations professionals who should know better, but they don’t. Yes, I will admit the unvarnished truth is that in the 25+ years that I have been reading resumes, they range from downright embarrassing to adequate. 

Another truism, if you have a professional (i.e. outplacement firm) help, then instead of being better, it reads like an outplacement firm canned resume. Unfortunately, success in the communications and IR fields requires so many talents, that following one recipe doesn’t work for all the flavors of experience. 

Another problem is taking advice literally and doing what those books say about resume writing, rather than interpreting what they mean. (I’m giving authors the benefit of the doubt, here.) This is another theme of the article, use the “common sense” test to weed out advice that you instinctively know makes no sense. If it feels wrong to you, it is most probably bad advice 9 out of 10 times.

I once coached a top-flight marcom executive about her resume and suddenly came to a realization about why these documents are so tough to get right. That’s when the “Ah Ha” (the light bulb phenomenon) happened.

Is the resume really about you and your achievements? Wouldn’t you expect the answer to be yes? Well my answer is not really. It’s all about the hiring manager -- the person who is buying (not you) but what you can do to solve his/her problem, fill a void, and fit the team. So, what do you need to say to grab his/her attention? Are you selling yourself? All the resume guides say “yes.” That’s where the literalists march off to follow orders. That’s where all those marketing types jump in with the formula question: Do you need a top executive who can save you $X or can help you achieve a percent increase in marketreach? Oh please, spare me from this banality.

Are You Selling Yourself?

So, let’s go back to the question. Are you selling yourself? Are you broadcasting how talented you are by telling the world I am great, or strategic, or results-oriented? Guess what? That’s irrelevant and has a negative impact on your key customer, the hiring manager. By saying, “I’m terrific,” you are doing just the opposite. Don’t sell yourself short by advertising who you are. It destroys your credibility.

Instead, you engage your reader and win an interview (that is the objective of a resume, BTW) by giving examples of how you’ve helped your former employers. It’s a far more subtle approach, far more low-key and consultative, which is what a resume is about. A resume is a one to one communication. It is about a conversation, a dialog with a potential buyer of an expensive solution -- you. The challenge is there are readers at several levels in an organization that need to be convinced that your resume is a “keeper.”

Here’s the key: the resume is not about “me.”  It’s about what I can do for you. Skillfully written, what you want to do is wrapped around what you can do for the hiring organization. Solve their problem (convince them that you are action oriented and focused) by doing what you enjoy most.

Another turnoff in addition to the “me” focus, is telling the reader how you are responsible for measurable results when your role is part of a team effort. Again this comes from bad advice which says, be as specific as possible to justify your worth. Taking that literally results in contrived statements which immediately engender a “so what” reaction.

I do not recommend ever telling people that you are a results-oriented, strategic, high energy professional. Who isn’t? Would anyone ever say, “I’m tactical, slow and am job hunting because I couldn’t keep up?” Please eliminate all statements that tell the world you are terrific and that you are a team player.

The only objective a resume should include is one that “fits” what the customer wants. If you don’t know what that is, don’t put one on the resume. Being vague is a “dead spot” when every element of the resume should be crisp and clear. Am I suggesting you misrepresent yourself? The answer is never. However, there are many ways you can express what you want. The trick is to put it in terms that make sense to your audience.

Then there is the noise factor -- resumes should never confuse or waste time. Summary statements, just like imprecise objectives, with vague job goals, “I want to work for a progressive, high growth company that values individual achievement” or “I have a progressive track record of on-going success” need to be eliminated. They don’t tell the hiring manager that you can solve his/her problem.

In the Investor Relations area, there is a case to be made for a list of the various tasks you have executed under “Accomplishments.” Your Human Resource reader and the hiring manager (who is sometimes not an IR executive) can find this list a timesaver if they know you must have certain skills and experiences to make it through the first “cut.” This tells them up front you are qualified at the task level.

Let’s talk about “hype.” I think you can guess that there shouldn’t be any, despite advice that says to be sure to take credit for accomplishments. Interestingly, I think being too self-effacing is a problem I’ve seen more among women. There is a balance to strike here that can be difficult to find.

Common Sense

Well, here we are in that difficult gray area where the simple 10-step solution to creating a perfect resume doesn’t offer a clue. Let’s apply common sense to the issue, oftentimes a rare commodity in these circumstances. Using shopping on the Internet as the perfect analogy, here’s what I suggest you consider.

When you visit a website with the intention of learning about a product, you are expecting to be presented with in-depth information. This will allow you to judge whether you should consider a purchase based on its features and/or the quality of the item -- perhaps as endorsed by an objective reviewer (e.g. rated a “superior value by XYZ magazine”). You would resent being “hit” with advertising or sales messages. A resume should take exactly the same informational tone, strive for similar “ease of use” and draw conclusions for the customer. That “pitch” which is far more subtle requires paring down the details and making sure what you say is precisely about accomplishing the task/meeting the objectives and defining your contribution.

“ Just the facts” is what your reader needs. So, what does that mean? Here’s what you want to say must be expressed so that your customer is happy. Does it mean you can’t focus or position the resume? No, absolutely not. It does mean you present your story in a low-key factual style. For example, instead of saying you are a high achieving superstar, let the reader come to that conclusion by following your career progression.

List the company, length of time with the organization and then in reverse chronological order recite your job titles. Use the word “promoted” if it applies. If you were selected from a large pool of applicants, say so. If you were the youngest person ever in the job, say so. If a client or boss or editor said you were terrific, that’s fair game to include. If what you did was a first, say so. If you set out objectives for a project and met them, explain that.   

Another way to indicate you are succeeding is by describing the companies you represent, their business, size and complexity. It’s one thing to be a Director for a $30 million company, quite different to hold that same title at a $2 billion company. (BTW, always describe the business the company is in. Never assume the reader knows anything about your employer.) If you have direct contact with heads of organizations and are part of planning sessions, that indicates your opinion is valued (without using that beaten-to-death phrase) “strategic contributor.”

Case studies are great.  Tell stories about how you organized an event or, for example, developed the first Investor Relations campaign. Did you brief the chief executive? Write speeches? Create a crisis communications plan? Did you step forward to suggest the communications effort be expanded and win approval? How large are the budgets you’ve been responsible for? What is the largest group of people you’ve managed directly? These examples are some of the best ways for a potential employer to judge if you’ve functioned at a high enough level to tackle his/her assignment. (Or, conversely if you are overqualified.)

If this sounds like you are writing a 4-page resume, that is exactly what not to do. The point is to keep it to 2-pages and tighten down the copy so you are not cluttering the page. (While resumes are submitted on-line, people download resumes and read them as hard copies. Keep the look of a resume inviting, not daunting.)

Just because you’ve spent 50% of your time doing media relations (and you’ve decided you prefer editorial work), you do not have to focus your resume on media relations. If you prefer one direction over another, emphasize that aspect of your work.  Positioning is legitimate and the resume can lead a potential employer down the path you want to go.

My final point: shorter is better. Remember the 2-page rule (and don’t try to cram more on the page by adjusting the margins or lowering the font size). Do not send a hard copy of your resume; also, format it so there are no fancy graphics.

Oftentimes a company modifies the resume to circulate it to several managers while omitting contact information. Consider sending a PDF version for security reasons and then offer to send a Word version if the company needs it (by that point you have a communication going so it is a bit less risky). Post the resume on-line if confidentiality is not an issue. Don’t expect a potential employer will take the time to go there; assume you have less than 45-seconds to make an impression.

Remember the K.I.S.S. principle. If a potential employer needs a special document or additional information, volunteer to have it in his/her hand within a day or two. That demonstrates your interest, talents and sense of urgency.