The next generation of Chairs: why it’s time to rethink the Non-Executive talent pipeline

As private equity investment in health and social care continues to scale, the demand for skilled non-executive chairs is rising sharply.

But here’s the dilemma: the supply of experienced candidates isn’t keeping pace. 

At a recent Compass Carter Osborne round table, industry leaders explored this growing tension and what must be done to build a stronger, more sustainable pipeline of non-executive talent. 

The Status Quo: experienced or nothing 

Private equity sponsors remain clear on what they want: chairs with proven track records, buy-and-build experience, and sector fluency. Insight from Compass Carter Osborne shows just how rigid that preference is. Of the 17 chair appointments they made in the past year, none went to first-time chairs. 

Despite talk of openness to out-of-sector candidates or first-timers, the reality is that when the stakes are high, risk tolerance is low. 

“Private equity sponsors’ asks are often so high that candidates who meet 99% of the criteria are still ignored,” said one participant. “We say we’re open but in practice, we filter them out.” 

Why that’s a problem 

The pool of seasoned chairs isn’t infinite. And with transaction activity expected to rise in the second half of the year, competition for experienced non-executives is set to intensify. If the market doesn’t evolve, it risks becoming constrained, not by capital, but by leadership bandwidth. 

It’s time to start thinking differently about potential. 

Growing the pipeline: practical solutions 

Roundtable participants offered several strategies to cultivate the next generation of non-executive leaders: 

• Encourage CEOs to seek mentorship and broaden their exposure to governance and investor relations. 

• Support charity trustee roles as a low-risk first step into non-executive responsibilities. 

• Build diverse networks, connecting high-potential executives with experienced chairs and PE sponsors. 

• Educate investors on the benefits of structured board environments where first-time chairs can be supported by seasoned non-executive directors. 

“It’s not that the talent isn’t there,” one participant remarked. “It’s that we’re not giving it enough opportunities to prove itself.” 

“It’s not that the talent isn’t there, it’s that we’re not giving it enough opportunities to prove itself.” 

From risk to return 

The irony? Many of today’s most successful chairs were once the first-timers someone took a chance on. As one roundtable attendee put it: 
“A bright, good human being will, on the whole, learn what to do and do it really well.” 

If investors and boards want to futureproof their leadership pipeline, they’ll need to stop waiting for fully formed chairs to emerge and start helping them get there. 

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