Thursday, 29 July 2010 15:12

Entrepreneurial Boards Report - Industry Concentration Featured

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Vell Executive Search elicited responses from a wide variety of industries, from education and healthcare to hardware and telecommunications. In fact, the survey represents the practices in more than 18 industries, which include utilities, retail, financial services, banking, insurance, real estate, consumer products manufacturing and consumer services, manufacturing, aerospace and automotive, business services, and software. More than 40% of the firms represented in the survey serve the software industry. Approximately 9% of the participating firms are involved in producing telecom equipment, while another 7% provide telecommunications services. (Figure 2 summarizes the industry concentration among respondent companies.)

Figure 2: Industry Concentration

Industry Concentration

Years in Operation

The firms that responded to the survey have a common thread: most are younger businesses. One third of the companies represented in the survey have been incorporated for less than five years. Two thirds of the firms have been incorporated for five to ten years. None of the respondents have been incorporated for longer than ten years. (See Figure 3.)

Figure 3: Number of Years Since First Incorporated

Number of Years Since First Incorporated

Revenue of Sampling Firms

Most of the responding firms have revenues of less than US $10 million. Only 11% of the sample firms had annual revenues of over US$100 million. By contrast, the average firm in the NACD’s study of Effective Entrepreneurial Boards had average annual revenues of US$122 million. The proportion of respondents that are privately held – 77% – is similar to the NACD Survey.

Figure 4: Size (Revenues)

Size (Revenues)

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Dora Vell

Dora Vell is the Managing Partner of Vell Executive Search, a boutique executive search firm in Boston focused on recruiting technology executives and board members. Vell has successfully completed numerous board member and C-level executive searches, including CEOs, COOs, CIOs, and Vice Presidents - at both public and private companies.

Prior to founding the firm in 2005, Vell was a Partner at Heidrick & Struggles' Technology practice for seven years.  Before her career in executive search, she worked at IBM for 11 years, managing software engineering organizations of 100 people and software sales organizations with revenues of $150 million. She has also served as an executive assistant to the CEO of IBM Canada for one year.

Vell holds seven worldwide software patents. She has published several Business of Leadership reports on governance and leadership and has been quoted in numerous articles including The Wall Street Journal, Forbes, Business Week, Fortune, Agenda Week, MSNBC, Mass High Tech, the OPUS for the World Economic Forum, Boston Business Journal, The Globe & Mail, CIO Magazine, and IEEE. She also has been a featured speaker on leadership at numerous conferences and at Columbia University's MBA program.

Vell is a member of the National Association of Corporate Directors (NACD), the Boston CEO Roundtable. She has served on the boards of Framingham State, Entrepreneur's Organization, Goodwill, Mary Centre for developmentally handicapped adults,, and RBC Capital Partners.

She has received an MBA from the University of Toronto, a Master in Computer Science from the University of Waterloo, and a Bachelor in Computer Science from Carleton. She has also completed the MIT Entrepreneurial Master’s program.

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