The Financial Coconut Podcast What it takes to be a Board Member? Retirement? Here’s the ladder [Ft Su-Yen Wong, CDL, IMDA, NKF & Terence Quek, CEO SID]
Ever wondered what it really takes to sit on a company's board of directors? Is it the cushy retirement gig many imagine it to be, or something far more complex?
Join experienced CEO, and board chair serving on multiple prestigious boards, to pull back the curtain on the world of directorship
- Su-Yen Wong, Past Chair, Singapore Institute of Directors
- Terence Quek, CEO, Singapore Institute of Directors
They'll explore:
- What board directors actually do (hint: it's not just approving budgets!)
- The surprising pathways to joining your first board
- Why directorship is evolving into a serious profession requiring specific skills
- Whether the compensation is worth the responsibility (including potential legal liability!)
Plus, get insider perspectives on boardroom dynamics during company crises, and discover if your background might make you a valuable board candidate.
Whether you're plotting your post-executive career or simply curious about how corporate governance really works, this episode offers rare insights into a role that shapes organisations but remains mysterious to most.
Tune in to discover if joining a board could be your viable retirement plan—or if you might want to think twice!
01:35 - What does SID do, and what role does it play?
04:35 - How does the board of directors decide to remove management, and what does that process involve?
10:15 - Do board members earn a lot, and is it worth their time?
25:20 - What are the pathways to becoming a board member?
27:49 - How is a board structured, and what are its common roles?
30:20 - What does it take to approve people, budgets, and decisions on a board?
35:46 - How do you join a board, and who selects the members and chairman?
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