The Better Boards Podcast Series

Send us a textThe topic of supply chains is on everyone's mind more than ever. Board members are increasingly obliged to ask themselves what their own company's supply chains look like, and with whom they do business.  The issues associated with supply chains are complex and require consideration from multiple angles.In this podcast, Dr Sabine Dembkowski, Founder and Managing Partner at Better Boards, discusses supply chains with Anahita Thoms, one of the 100 Most Influential Women in German Business, according to manager magazin.Anahita Thoms heads Baker McKenzie's International Trade Practice in Germany and is a Member of the EMEA Steering Committee for Compliance & Investigations.  She is Global Lead Sustainability Partner for the Industrials, Manufacturing and Transportation Industry Group, and a Member of the ABA International Human Rights Steering Committee. She has won various accolades, including International Trade Lawyer of the Year (Germany) at the 2020 ILO Client Choice Awards, and Young Global Leader of the World Economic Forum, Capital 40 under 40.“Board members may have had the perception that supply chain management is only a metaphor"Anahita feels that in the past, board members may have had the perception that supply chain management is only the responsibility of those preparing the sustainability report or the procurement team.  Nowadays, and in light of supply chain shortages, geopolitical challenges, and legislative developments, many boards now understand that disruptions in supply chains are a real risk, and may even become a reputational challenge.  “Supply chains are value chains are at the heart of businesses”Businesses need to ensure that they are profitable, and supply chains are value chains at the heart of businesses, particularly those that export and import a lot of products.  So, supply chain efficiency also dictates the speed at which an idea comes into the market.  Altering supply chains smartly can in the long run decrease production costs as well as emissions, so the cost drivers and business impacts of each link in the supply chain need to be properly analysed.“Directors should concentrate on exploring possibilities to diversify their supplier base and also digitalize their supply chain”Anahita believes that, at the moment, most companies will be concerned with making their supply chains more resilient to future prices.  She recommends that to increase supply chain resilience, the focus should be on exploring possibilities to diversify the supplier base and digitalize the supply chain.  She recommends that smart, capable, and business-oriented Chief Sustainability Officers be enabled to set the tone from the top.“You cannot look at these things in silos”Anahita believes in a three-pronged approach - the business, the profitability challenges and the reputation – rather than operating in silos.  She recommends rationally analysing supply chains, then looking at the values of the company and then the risks.  The three top takeaways from our conversation are:1.      Supply chains are vulnerable to disruptions. Therefore, supply chain management can be a source of risk if done badly, and it can equally be a source of great opportunity. 2.     Supply chains must be understood in a more holistic manner nowadays, as sustainability in supply chains is more than just necessary, but a reputational topic.3.If you would like to become part of the Better Boards community, learn about our distinctive approach and explore opportunities to work with us or contribute to The Better Boards podcast series, get in touch at info@better-boards.com. We love to hear from you.

Send us a textI met my podcast partner for this episode when conducting a board evaluation for a growth company in the Financial Services sector. What struck me was the positive view everyone on the board had about the way the board works together. We have detailed benchmark data, and also, when we compared this board with others, it came out as one that is performing better. So, I immediately thought that I must invite the Chair, Peter Herbert.  So here we are. Peter is a Non-Executive Director and Adviser with an impressive Executive career. He is chairing the Board of Bank of Ireland (UK) plc and Zopa Bank, the banking subsidiary of Zopa Group, where he also sits on the Group Board. He is also a Non-Executive Director of WiZink Bank, where he chairs the Appointments & Remuneration Committee.  Previously he was a Non-Executive Director and then Chief Executive Officer of Tandem. “Being an effective board is a team game”Peter emphasises the importance of teamwork on a board, stating how there is no room for ego or disruptive behaviour.  However, this is not the same as a ‘groupthink’ approach or not challenging other board members when necessary.  He feels that as a “conductor” of the board, a Chair is responsible for a board focusing on shared goals, as well as ensuring board processes run smoothly and effectively and as a collective is greater than the sum of its parts.“Who isn’t motivated by building a successful business?”Peter believes that working with growth businesses is both fun and motivating. Still, he cautions about managing growth, especially where these businesses have private equity investors, who can be demanding owners. He highlights the need to get to know board colleagues as individuals, looking at what works and what needs to change, and in the case of a growth business drawing up a “prioritised development plan”.Peter says that the role and purpose of a board are to ensure there is the right vision, purpose, strategy, and culture as well as the right resources and governance to achieve them.  From a board point of view, the nature of each of those components is likely to be different in a growth or restructuring business, but in both cases, the same components are necessary.“Being a good board colleague is the key thing”Peter emphasises the importance of being a good board colleague, which involves listening carefully, constructively putting your point across, building good relationships with your stakeholders, and not making assumptions. “A good Company Secretary and their team are worth their weight in gold”Peter feels that a Company Secretary and their team are worth their weight in gold and that frequent and open dialogue with them is vital, stating how they can spot potential pitfalls, going through meeting agendas, and producing concise, accurate meeting minutes that can be very important, especially in a regulated business.  “Oversight of the effective execution and implementation of strategy is also a key role of the board”Peter describes that most businesses have periodic strategy sessions because strategy isn't a static topic. He believes that one way to address this point is also to have a standing strategy item on every board agenda, where the board can discuss such matters on a regular basis. The three top takeaways are:1.      Boards should not overcomplicate their role2.If you would like to become part of the Better Boards community, learn about our distinctive approach and explore opportunities to work with us or contribute to The Better Boards podcast series, get in touch at info@better-boards.com. We love to hear from you.

Send us a textThe status of ethnic diversity on FTSE Boards It is five years since the 2017 publication of the first report into Ethnic Diversity of UK boards by Sir John Parker and the Parker Review Steering Committee. Over the last five years, we have seen changes in diversity and inclusion, and it is a huge success that as of today, 94 FTSE100 companies have met the target. But while much has been achieved, there can be no grounds for complacency, and it is clear that more needs to happen.In this podcast, Dr Sabine Dembkowski talks with David Tyler, who has recently taken over from Sir John Parker as Chair of the Parker Review. David Tyler is currently the Chair of Domestic & General, The White Company and Imagr. He is one of the most respected and admired Chairs in the UK, having also served in this role at several other companies, including Sainsbury's, Hammerson and Logica.Some of the key takeaways of the conversation include:"I hope listed companies can be a beacon for other organisations"Since 2017, the number of FTSE 100 companies with someone from an ethnic minority background on the board has doubled, from 47% to 94%. In terms of directorship, this has also doubled, from 8% to 16% directors. "What's important is the mindset's changed"David outlines how diversity is important in a wider cultural sense. The benefits of diversity around the board table are now largely accepted, with many companies wanting to show their employees and outsiders that people from ethnic minorities can succeed."Only when you have the data can you do something about it"Firstly, companies need to know their diversity data, which means that people need to self-declare how they identify. This enables a company to monitor percentages of any particular group of people, such as those at executive committee level. Without this data, it is impossible to measure your position and progress, understand who is leaving, progressing well in the company, and why. "Show the direction you're going"Secondly, targets for minority ethnic participation need to be set – and not just at board level, which the Parker review focussed on.  "You don't have to reinvent anything"Third, David feels the heart of what companies need to do is to create if they don't already have it, an inclusive culture throughout the organisation. This is a culture where everybody feels safe, secure, and valued and where everybody experiences fair and happy working conditions. "From little things, big issues can arise"Fourth, David warns that 'microaggressions' must not be tolerated. Examples of these might include ignoring people from a different ethnicity, not looking them in the eye, interrupting them, and allowing inappropriate or even hurtful "banter," and so forth. Good companies should not tolerate such behaviours. "Get the tone from the top set in the right way"Finally, he advocates that management needs to be seen as driving this issue forward from the top, believing that if people in senior positions show they are working at this, others will follow their example. The three top takeaways from our conversation are:1.      Companies that are more diverse are more likely to succeed because there is more room for debate and less potential for 'groupthink.'2.     A more diverse coIf you would like to become part of the Better Boards community, learn about our distinctive approach and explore opportunities to work with us or contribute to The Better Boards podcast series, get in touch at info@better-boards.com. We love to hear from you.

Send us a textNowhere is the practice of conducting board evaluations more advanced than in the UK, and more boards of listed organisations conduct board evaluations here regularly than anywhere else.In the second part of this podcast, Dr Sabine Dembkowski (Founder and Managing Partner of Better Boards) talks to Maureen Beresford, Head of Corporate Governance at the Financial Reporting Council (FRC), this time discussing how to analyse the results of board evaluations. Maureen’s team is responsible for the UK Corporate Governance Code and its supporting guidance.  As part of her current role, she produces the FRC report each year on how companies have complied with the Code.  For the last three years, board evaluations have formed part of this review.Some of the key takeaways of the conversation include:“The output has to be agreed at the beginning of the exercise.”Maureen believes that when gathering data for a board evaluation, it must first be established what the evaluation is - for example, is it to be a report or a presentation?  She warns against boards and board members homing in too narrowly on specific details and issues, stating that it is better to allow the evaluators to explain their conclusions, ideally with a meeting where the findings from the evaluation can be outlined. “It’s important to look at what’s behind what is disclosed in a report”Board evaluations can provide great data and insight, but this does not always translate into subsequent action, and Maureen suggests that people look at what is behind that which is disclosed in a report. Some details may not be emphasised enough, or some actions may be overly ‘bigged up’. She stresses that although companies do comply with corporate governance, there is always the risk of ‘boiler plate’ language, citing clichéd terms such as ‘working closely together’.  “The Company Secretary plays a pivotal role”For Maureen, the role of Company Secretary is pivotal, as company secretaries are in a position to drive forward some of the actions that can come from a board evaluation.  It also helps that they know what agendas are coming up, they discuss what should be on the agenda with the Chair, and they collect information.  “It’s important to be positive- if you don’t achieve a target, set one in place you can achieve”Maureen believes that companies need to look both backward and forward. One example she gives is company culture a board should look at how this can affect issues such as ESG, employee relations and remuneration policies.  She believes it is important for companies to highlight positive action in their evaluations, as well as being honest, citing good examples of companies who highlighted failures, but also explaining the steps they were taking to address those failures. She emphasises the importance of continuous monitoring of action plans, setting targets, and also making sure that recommendations are followed after the completion of the evaluation.   Clarity is keyIn terms of board disclosures, Maureen suggests including an outline of how the evaluation was conducted, what the objective was, identifying the processes behind the valuation (data, interviews, etc), who oversaw the process andwho undertook the evaluation. The three top takeaways from our conversation are:1.      Use the company secretary to assist in reporting to the board and make sure data is translated intIf you would like to become part of the Better Boards community, learn about our distinctive approach and explore opportunities to work with us or contribute to The Better Boards podcast series, get in touch at info@better-boards.com. We love to hear from you.

Send us a textBoard Evaluations - What does good really look like? Part IThe Corporate Governance Code in the UK is the blueprint for corporate governance codes worldwide. Nowhere else is the practice of conducting board evaluations more advanced, and nowhere else do more boards of listed organisations conduct board evaluations on a regular basis.In this podcast, Dr Sabine Dembkowski talks with Maureen Beresford, Head of Corporate Governance at the Financial Reporting Council (FRC). Maureen’s team is responsible for the UK Corporate Governance Code and its supporting guidance.  Some of the key takeaways of the conversation include:“Board evaluations could definitely be improved…”Maureen Beresford details how, in the work she and her team do, she sees many boards making very similar statements about their evaluations – broad-brush statements such as “the board is working together effectively”.  Her concern, however, is that these do not give any concrete actions that have been taken, or detail any follow-up from the previous board evaluation.  More could be done in terms of concrete actions and following up in detail on actions taken from previous evaluations.  “An honest picture of how the board works and how its Committees are working.”  Maureen suggests there is no evidence to suggest that any particular methodology is a reliable indicator of quality, and therefore cannot suggest any specific data that should be collected.  What she does point out is that a questionnaire that does not have probing questions will not be effective.  Equally, an evaluator simply attending a board meeting and listening in is also unlikely to be effective, as participants are likely to modify their behaviour during a meeting when observed.“Board, committee and individual director evaluations topics should be customised to get the feedback that you require.” Good evaluations can elicit valuable feedback on board dynamics, structure, performance and composition. FRC guidance on board effectiveness provides insight into a list of areas that could be considered, such as succession and development plans, company culture, performance and strategy, the quality of board governance documents such as the quality and timings of papers and presentations to the board and how the board communicates with, listens and responds to investors and key stakeholders.“Set your scope, involve people, collect evidence and be clear about your outcomes.” When asked about the content of a board evaluation, Maureen cites her organisation’s guidance. For example, the evaluation should take into account succession and development plans, culture, quality of documentation and how the board listens to the concerns of shareholders and key stakeholders.  “We would really, really like to see a move away from general statements.”Improvements have been made, and companies have come a long way since evaluations were first introduced.   Maureen says that, in terms of reporting, she has begun to see some companies provide more detail on the areas that the evaluation covered, along with suggested areas of prioritisation. The three top takeaways from our conversation are:1.      Board evaluations should not be viewed as a compliance exercise as much as an opportunity for change and improvement.2.     Trust in the process and its confidenIf you would like to become part of the Better Boards community, learn about our distinctive approach and explore opportunities to work with us or contribute to The Better Boards podcast series, get in touch at info@better-boards.com. We love to hear from you.

Send us a textCreating A Sustainability-Savvy BoardFrom both a risk and opportunity perspective, boards must ensure they fully engage with the impact of sustainability: Board members are challenged to take bolder and more transformative action.  A recent study revealed that nearly 75% of European board directors believe that ignoring sustainability will affect their organisations’ ability to create long-term value.  However, only 30% believe that ‘everyone on the board has a good understanding of sustainability and its place in strategy,’ and just over half state that ‘the board sees a solid business case in sustainability’.In this podcast, Dr Sabine Dembkowski talks with Trista Bridges, Founder of Read the Air, about creating a sustainability-savvy board. Some of the key takeaways of the conversation include:“Millenials and others are asking why companies can’t make profits and do better for society”Trista discusses how many things have changed over the last ten to fifteen years, and how some have felt that this has caused inequality and a strain on the system.  She also argues that businesses have in effect been asked to step up into a role that previously might have been filled by governments. “Companies need to identify what we call “materialities” – This depends on the industry you’re in, sector, country etc.”Trista acknowledges that sustainability and ESG are both broad topics. She cites the food industry and issues around healthy food as an example, where companies need to look at their product portfolio. She also knows this can be an issue for businesses, for example, Japanese companies looking to attract outside foreign capital may have to look at changing their approach toward ESG issues, in order to bring in outside investors.“90 percent of investors place more emphasis since the start of the COVID-19 pandemic on ESG performance in terms of how they invest” 1Trista acknowledges that for older generations these issues were not as prevalent.  Recent surveys have shown that a significant number of investors place emphasis on ESG, as do a majority of analysts.“ESG is not a nice thing to have, it’s a necessity for the company”Trista believes it is important that boards look at where their priorities are in terms of sustainability and ESG, and whether everyone’s thoughts on these topics line up with each other.  “There needs to be ESG training within board training…  …The support has to start at the top”Trista also stresses the importance of incorporating ESG training into an overall board training program.  Another option she provides is the idea of having someone specifically designated on the board to oversee ESG and to potentially educate other members of the board, as well as reaching out to outside experts if necessary.“If you are serious about something, you resource it”One example she uses is net-zero targets.  Companies may invest in marketing, accounting and so forth but may not put sufficient resources into issues such as making a business more sustainable.  The three top takeaways from our conversation are:1.       Boards need to look at where they are in terms of sustainability.  What do they know?  What do they not know?  How can boards become savvier about this topic?2.     What is material for your company?  Understand what is going on in terms of sustainability, ESG and other issues -If you would like to become part of the Better Boards community, learn about our distinctive approach and explore opportunities to work with us or contribute to The Better Boards podcast series, get in touch at info@better-boards.com. We love to hear from you.

Send us a textMuch is written and said about governance, but most is heavily skewed towards the developed world, while good practice is happening (or should be happening) in every country.  But what matters to Company Secretaries and boards in both the developed world and developing world, and how accessible is good practice? What has been done to break down silos? In this podcast, Dr Sabine Dembkowski talks to Bode Ayeku, President of  Corporate Secretaries International Association (CSIA) about how to spread good governance practice around the globe.Bode Ayeku FCIS is a Chartered Secretary and lawyer. He is President of Corporate Secretaries International Association and the Immediate Past President of the Institute of Chartered Secretaries and Administrators of Nigeria.  He is a member of the Governing Council of the Nigeria Employers’ Consultative Association (NECA) and the Chairman of the Committee of Legal Advisers and Company Secretaries of NECA. Some of the key takeaways of the conversation include:“No organisation should assume they have the best practices”Bode discusses how he has approached discussing governance around the world, something that can often be a challenge, as different countries have different approaches.  In many countries there are national bodies that represent governance professionals, and they provide platforms that allow knowledge of good practices such as webinars, research and thought leadership to be shared.  In countries where these bodies do not exist (and there are many) governance professionals should be aware that there are also global bodies providing guidance and governance principles and standards. He feels that no organisation should feel they have the monopoly on best practise, and sharing information would only encourage further improvements. This sharing of resources would ultimately benefit everyone, as they could all learn from the information available.“Platforms such as the intranet where you can store information on best practices… they should share this generously”Bode emphasises the availability of summits and programs where secretaries from countries in the developing world can meet and discuss best practices.  He cites Nigeria as an example, where they have a platform for their members to talk about any challenges they are facing and discuss practical solutions.  He also discusses events where Company Secretaries can attend seminars and hear guest speakers, further helping them learn more about best practices.  He believes that companies should encourage employees to attend summits, seminars and training programs.“In my experience, secretaries in the developing and developed world are facing the same global challenges”Bode has seen changes of priorities in both the developing and developed world and cites issues such as environmental concerns and social mobility.  However, it is not only a question of dealing with these issues but also looking at potential opportunities. Bode believes that people need to both come together and work together on global issues.  The solution is for more collaboration. The three top takeaways from our conversation are:1.       All stakeholders need to share responsibility, sharing their knowledge and resources to create stronger organisations2.     There is an opportunity for Company Secretaries to come together, and this has the potential to form a powerful global voice3.     While there are a number of challenges facing bothIf you would like to become part of the Better Boards community, learn about our distinctive approach and explore opportunities to work with us or contribute to The Better Boards podcast series, get in touch at info@better-boards.com. We love to hear from you.

Send us a textBoards only see what they’re presented with and can easily become passive recipients of agendas created by CEOs and senior executives. But board members can play a transformational role in a company by asking questions that create space for reflection and strategic change, not simply responding to what they are presented with. In this podcast, Dr Sabine Dembkowski discusses proactive questions that can enable change for both individual members and for overall board performance with Dr Andrew White from SAID Business School in Oxford. Dr Andrew White is director of the advanced management and leadership programme at Oxford University’s Saïd Business School and focuses his research on how to lead businesses successfully, and the risks and opportunities facing CEOs.  He recently jointly published an article in the Harvard Business Review with Tazim Essani and Eric Wilkinson, 2 active board members. Some of the key takeaways of the podcast include:“We need to shift being reactive to being proactive when it comes to setting the agenda”Andrew argues that in order to improve board effectiveness, boards need to do more than react to regulators or the agendas presented to them.  There is a need to move away from the transactional, toward pausing and looking at how to shape the overall agenda, both in terms of the activities of the board and the company as a whole.   “What is the executive not telling you that you need to know?”Andrew points out the risks when boards rely only on executives, and how this can be a factor when it comes to problems such as cases of fraud or even companies ‘going under’. He cites how charity sectors often need to address issues with fraud, how this needs to be addressed and the indicators to look out for.  Senior board members need to be aware of what could potentially happen. “There is a tyranny of meetings which are necessary but they’re not sufficient”To address the really difficult questions, Andrew describes how boards can bring people together for casual conversations, so that it isn’t purely about arranging meetings - it is also learning about the company and the culture around it.  Board effectiveness is not about formal meetings, or even a structured and planned walk around an office. It is also not about undercutting the role of an executive, but about boards educating themselves.Andrew also makes clear that board performance is not about changing things very quickly, but having some time (around 15 minutes to half an hour) to address key questions. He also suggests using anonymous feedback as a method to bring up issues, and how company secretaries can help shape this agenda.“We’re focusing on the transactional, going from Zoom meeting to Zoom meeting. We have to stop and take an intentional pause…”In an increasingly virtual world, Andrew points out that while virtual meetings can be more convenient, it does make it harder to create an informal atmosphere – which is another issue that needs to be looked at.The three top takeaways from our conversation are:1.       Be proactive, not reactive.  Look at your agendas, trying to see what’s missing or could be expanded on.2.     Do you understand enough about the decisions you are trying to make? Do you need to educate yourself?3.      What don’t you know about the company that you need to know about?To find out how you can participate in the Better Boards Podcast Series or morIf you would like to become part of the Better Boards community, learn about our distinctive approach and explore opportunities to work with us or contribute to The Better Boards podcast series, get in touch at info@better-boards.com. We love to hear from you.

Send us a textSustainability is an issue that affects us all, with investors and consumers alike challenging the status quo. However, the issues surrounding ESG are multi-layered and complex, with no straight answers. It can be overwhelming and daunting.In this podcast, Dr Sabine Dembkowski discusses environmental, social and governance (ESG) issues with Anna-Marie Slot from global law firm Ashurst LLP, recently named Most Innovative Sustainable Lawyer at the 2021 FT Innovative Lawyers Awards. Anna-Marie Slot leads the firm's ESG strategy and established the firm's Sustainability Goals, co-created Ashurst's first digital product, "ESGReady," and launched Ashurst's first ESG-related podcast series, "30 for Net Zero 30".The three key takeaways from this podcast are:1.     Don't be afraid to start - There are experts out there, but you need to embrace uncertainty and start working on these issues as a company.2.     Look at the information out there - Organisations such as Chapter Zero are providing the information you can look at while you are considering your ESG approach3.     ESG is both a risk and an opportunity - Dealing with ESG issues now are a seed you can plant that your company will see the benefits of in the long termThe focus of high-performing boardsFrom her experience, Anna-Marie highlights five things high-performing boards do1.     They have a high level of awareness of ESG issues.2.     They understand materiality - What material matters are key to improving the environmental performance of the organisation?3.     They embrace uncertainty and accept that they may not necessarily have the expertise to start with but are able to adapt and change. 4.     They know the business eco-system - from stakeholders to every employee in the business.5.     They know that ESG is not just a risk but also a big opportunity, possibly a competitive edge.Anna-Marie cites COVID as an example where a major event precipitated board evaluations, forcing an examination of the supply chain's ability to adapt. This is not easy to integrate into a typical board calendar. Still, board effectiveness can come from different approaches - some boards create specific ESG sub-committees, while others have included it as part of their audit function.She stresses that the effectiveness of boards around ESG issues depends on not having a silo mentality, yet appreciating this can sometimes be very difficult. "You have to be comfortable enough to say, 'I don't know the answer to that and I need to find someone that does.'"Anna-Marie describes how companies bring in consultants to find the knowledge necessary to address ESG issues, but she advises caution. Boards should check those who offer their services have the skillset required to address the issues.Anna-Marie recommends Chapter Zero in the UK, business chambers in other countries, and industry-specific organisations that can allow companies to make better sustainability decisions as part of their drive for improved board effectiveness."(ESG) is not something that can be siloed into one part of your business any longer"Anna-Marie highlights that the challenge of ESG issues is that they are complex and can not be siloed into one part of the organisation. What is more, a common language and understanding have yet to emerge in many boardrooms. The use of 'Net zero' is one of the examples. Anna-Maria found that it is not clear what boards refer to - carbon emIf you would like to become part of the Better Boards community, learn about our distinctive approach and explore opportunities to work with us or contribute to The Better Boards podcast series, get in touch at info@better-boards.com. We love to hear from you.

Send us a textThe subject of this episode of the Better Boards Podcast Series is "The changing role of CEOs and their relationship with their boards."  Dr Sabine Dembowski talks to Dr Kati Najipoor-Smith, who leads the Global CEO practice of Egon Zehnder.Complex and rapid changes are reshaping the role of the CEO. A recent study found that less than half of CEOs feel fully aligned with their teams - and even fewer with their boards. How is this happening? Kati leads Egon Zehnder's global CEO Practice and is also deeply involved in the firm's Board Consulting Practice. Drawing on decades of global advisory and management experience, she advises Chairs and CEOs across all industry sectors and regions on building effective and sustainable leadership at the top of their organizations. Before joining Egon Zehnder, she held senior roles in industrial and automotive consulting firms in Europe and the United States, leading large-scale strategic, change, and benchmarking projects. CEOs are "sometimes lonely"Kati's recent study "It starts with the CEO" sheds light on many aspects of the role of the CEO, including their priorities, how they connect with stakeholders and how to change their businesses.  It is one of the most extensive studies of its kind ever conducted and generated responses from almost 1,000 CEOs with combined 2020 revenues of over 3.7 trillion.  "97 percent of CEOs surveyed… agreed they need to change along with their company"Kati reports that there has been a massive acceleration of change in the last two years, and not only do businesses have to change, but CEOs recognize that they have to change as well. Sixty-six percent of CEOs in her 2018 survey agreed or strongly agreed they need to reflect on their leadership style, and this increased to a massive eighty-three percent in 2020.She describes that CEOs feel their biggest role is to create cohesion in their leadership team, raise collective ambition, and emphasize the importance of listening, not in terms of "fixing" a team but for all to learn. "Less than half of CEOs felt aligned with of their teams and even less with their boards" One significant survey finding was that less than half of CEOs felt aligned with their teams and even less with their boards.  Kati argues that the world has become more complex, and some boards struggle to adapt to emerging trends and developments, but relationships suffer if alignment is purely about control. She also makes it clear that having a more cohesive vision is not the same as everyone has the same viewpoint.  It is more about looking at issues such as ESG (Environmental, Social, and Governance) as part of the overall direction of the company. She maintains that it is possible to work with alignment and corporate direction and still provide shareholder value. "The base-line should be wanting to help" Kati's survey highlighted how productive CEOs are able to achieve their goals and notes that their relationships tend to be honest, transparent, communicative, and proactive. "We're not talking about liking each other - it's about professional trust, and empathy is always a good thing to have."  While numbers and strategy are essential, the behavior of the CEO (and whether a CEO is properly listening and being receptive to what the board around them has to say) is a key factor in success. Executives in a productive team will often have a mentor on the board of directors, which helps to grow future leaders. To find out how If you would like to become part of the Better Boards community, learn about our distinctive approach and explore opportunities to work with us or contribute to The Better Boards podcast series, get in touch at info@better-boards.com. We love to hear from you.