The Maximus Board of Directors is a group of individuals who are responsible for overseeing the overall management and direction of the company. This esteemed group includes highly accomplished professionals who bring a wealth of experience and expertise in various industries. In this article, we will explore the role of the board of directors in a company, the history of the Maximus Board of Directors, the qualifications required to be on the board, the diversity represented on the board, and much more.
The board of directors plays a crucial role in overseeing the management and direction of a company. Their primary role is to represent the interests of the company's shareholders and ensure long-term success. They are responsible for making strategic decisions, setting performance targets, and monitoring progress towards achieving these goals. Additionally, the board of directors is responsible for hiring and firing the CEO, setting executive compensation, and ensuring that the company is in compliance with all relevant laws and regulations.
Furthermore, the board of directors is also responsible for providing guidance and advice to the CEO and other top executives. They offer their expertise and experience to help the company navigate through challenges and capitalize on opportunities. The board of directors also serves as a link between the company and its stakeholders, including customers, employees, and the community. They ensure that the company is operating in a socially responsible manner and that its actions align with its values and mission.
The Maximus Board of Directors was founded in 1975 by two businessmen, David Mastran and Russell Stokes. The company initially focused on providing consulting services to government agencies, but soon expanded into healthcare and human services. In 1997, Maximus went public and began trading on the New York Stock Exchange under the symbol MMS. Over the years, the Maximus Board of Directors has undergone several changes, including additions and departures of board members.
One notable addition to the Maximus Board of Directors was in 2015, when former U.S. Senator Tom Daschle joined the board. Daschle brought with him a wealth of experience in healthcare policy and legislation, which was particularly valuable to Maximus as the company continued to expand its healthcare services. However, in 2019, Daschle resigned from the board due to his involvement in a controversial healthcare venture. Despite this setback, Maximus has continued to thrive under the leadership of its current Board of Directors.
The Maximus Board of Directors requires that its members have a deep understanding of the company's business, industry, and competitive environment. Additionally, they must have a strong track record of business and financial management, strategic planning, and decision-making. Board members must have impeccable character and integrity and be able to operate effectively in a team environment. Finally, they must not have any conflicts of interest that would impair their ability to represent the company and its shareholders fairly.
Furthermore, the Maximus Board of Directors prefers candidates who have experience serving on other corporate boards or have held executive positions in large organizations. This experience ensures that board members have a broad perspective on corporate governance and can provide valuable insights and guidance to the company's management team.
Another important qualification for Maximus board members is a commitment to social responsibility and ethical business practices. The company places a strong emphasis on corporate social responsibility and expects its board members to share this commitment and actively promote it within the company and the broader community.
The current Maximus Board of Directors consists of ten members. This number is in line with best practices for board size, as it allows for effective decision-making while still maintaining a level of diversity and independence. The board is made up of a mix of internal and external directors, with the majority being independent.
Each member of the Maximus Board of Directors brings a unique set of skills and experiences to the table. The board includes individuals with backgrounds in healthcare, finance, technology, and government. This diverse group of directors allows for a well-rounded perspective on company decisions and ensures that all aspects of the business are considered.
One of the hallmarks of a successful board of directors is diversity. The Maximus Board of Directors represents a diverse range of backgrounds, including gender, ethnicity, age, and professional experience. This diversity ensures that the board is able to bring a variety of perspectives to the table and make decisions that are in the best interests of the company and its stakeholders.
Additionally, the Maximus Board of Directors also includes members with diverse geographic backgrounds. Some members hail from the United States, while others bring experience from international markets. This diversity in geographic representation allows the board to consider a global perspective when making decisions that impact the company's operations and growth strategies.
Research has shown that diverse boards of directors are more effective at driving long-term performance than homogenous ones. This is because diverse boards are more likely to challenge assumptions, identify blind spots, and drive innovation. In the case of Maximus, a diverse board ensures that the company is able to adapt to changing market conditions and meet the needs of a diverse customer base.
Furthermore, a diverse board brings a variety of perspectives and experiences to the decision-making process. This can lead to more well-rounded and thoughtful decisions that take into account the needs and concerns of all stakeholders. Maximus' diverse board is able to consider the impact of their decisions on employees, customers, shareholders, and the wider community.
Finally, a diverse board can also improve the company's reputation and brand image. In today's society, consumers are increasingly aware of social issues and expect companies to take a stand on important topics such as diversity and inclusion. By having a diverse board, Maximus is able to demonstrate their commitment to these values and attract customers who share the same beliefs.
Each member of the Maximus Board of Directors brings a unique set of experiences and qualifications to the table. Some of the key members of the board include David Mastran, the company's co-founder and Chairman Emeritus, and Bruce Caswell, the current President and CEO. Other members include former government officials, healthcare industry executives, and financial experts.
One notable member of the Maximus Board of Directors is Dr. Regina Benjamin, who served as the 18th Surgeon General of the United States from 2009 to 2013. Dr. Benjamin is a highly respected physician and public health advocate, and she brings a wealth of knowledge and experience to the board. Another important member is Richard Montoni, who served as Maximus' CEO from 2006 to 2018. During his tenure, Montoni oversaw significant growth and expansion for the company, and his expertise in healthcare and technology continues to be invaluable to the board.
The daily life of a Maximus Board member is anything but routine. Board members are responsible for attending regular meetings, reviewing financial and operational reports, and making strategic decisions. They also spend time interacting with company executives, attending industry events, and staying up-to-date on relevant news and trends.
One of the key responsibilities of a Maximus Board member is to ensure that the company is operating in compliance with all relevant laws and regulations. This involves reviewing legal documents, consulting with legal experts, and making sure that the company's policies and procedures are in line with industry standards.
Another important aspect of a Maximus Board member's role is to provide guidance and support to the company's management team. Board members work closely with executives to develop and implement strategies that will help the company achieve its goals and objectives. They also provide feedback and advice on key decisions, such as mergers and acquisitions, major investments, and changes to the company's organizational structure.
The Maximus Board of Directors makes decisions through a collaborative process that involves all members of the board. They review financial and operational reports, solicit feedback from company executives, and engage in vigorous debate and discussion before making a decision. The board also relies on its various committees, including the audit and compensation committees, to provide recommendations and guidance.
Additionally, the board takes into consideration the opinions and concerns of Maximus shareholders. Shareholders are given the opportunity to voice their opinions and ask questions during annual meetings, and the board takes these into account when making decisions that affect the company's direction and strategy.
Furthermore, the board also considers the impact of its decisions on the wider community and environment. Maximus has a strong commitment to corporate social responsibility, and the board ensures that its decisions align with this commitment. This includes considering the environmental impact of the company's operations, as well as its social and ethical responsibilities to its employees, customers, and stakeholders.
The relationship between the CEO and the board of directors is a critical one. At Maximus, the CEO reports directly to the board and is responsible for implementing the decisions made by the board. The CEO also provides regular updates and reports to the board on the company's performance, and works closely with the board to ensure that the company is on track to meet its strategic goals.
In addition, the board of directors at Maximus plays an important role in providing guidance and oversight to the CEO. They work together to develop and approve the company's strategic plans, and the board provides valuable input and feedback to the CEO on important business decisions. The board also ensures that the CEO is held accountable for the company's performance and that the company is operating in compliance with all relevant laws and regulations.
Like any company, the Maximus Board of Directors has faced its fair share of challenges over the years. These have included regulatory changes, competitive pressures, and strategic missteps. However, the board has always been able to adapt and evolve in response to these challenges, ultimately driving success for the company and its shareholders.
One of the biggest challenges that the Maximus Board faced was the global financial crisis of 2008. The company's revenue and profits were severely impacted, and the board had to make some tough decisions to keep the company afloat. They implemented cost-cutting measures, restructured the organization, and focused on diversifying their revenue streams. These actions helped the company weather the storm and emerge stronger on the other side.
The Maximus Board of Directors is constantly looking to the future, evaluating market trends and strategic opportunities to drive success for the company. Some of the key areas of focus include expanding into new geographies, developing new products and services, and leveraging technology to improve efficiency and customer service.
Investors in Maxiums are closely monitoring the composition and performance of the company's board of directors. They want to see a board that is diverse, independent, and focused on driving long-term shareholder value. Accordingly, any changes to the board, as well as the company's financial and operational performance, will be closely scrutinized by investors.
There are many valuable lessons that other companies can learn from the successes and failures of the Maximus Board of Directors. One of the most important is the value of a diverse board that can provide critical input and guidance to company management. Additionally, companies can learn from Maximus' focus on strategic planning, effective decision-making, and adaptability in response to market changes.
In conclusion, the Maximus Board of Directors is a group of highly accomplished professionals who are responsible for overseeing the management and direction of the company. Through effective decision-making, strategic planning, and a commitment to diversity and inclusion, the board has driven long-term success for the company and its shareholders. We look forward to seeing what the future holds for this esteemed group of individuals and the company they serve.
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