The major criticisms of the board of directors is; lack of diversity, exorbitant executive compensation, lack of expertise, and need for board independence. In my opinion, the single criticism that I find to be the most important is that of board independence.
As a board director, you can mitigate these issues by promoting a policy of greater shareholder involvement in determining executive compensation and accept little to no compensation for your role. Board directors who are not qualified to make decisions related to their roles are criticized once the company goes in a detrimental direction.
Boards of directors have long been criticized for having low numbers of female directors, especially when their constituencies have large numbers of women. This trend is changing as more companies add female board members, notes NPR. Companies with board diversity have proven to be better performers than companies without board diversity.
Working on a non-board committee for one or two years and then taking the committee chair position is a good idea to prepare yourself for going onto a board of directors, according to KnewMoney. This allows you to get to know the players at the organizations, as well as the culture and office politics.