The Better Boards Podcast Series

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.Remember to subscribe and never miss an episode of the Better Boards Podcast Series. It’s available on Apple, Spotify, or Google. To find out how you can participate in the Better Boards Podcast Series or for more information on Better Boards’ solutions, please email us at info@better-boards.com.

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 theyRemember to subscribe and never miss an episode of the Better Boards Podcast Series. It’s available on Apple, Spotify, or Google. To find out how you can participate in the Better Boards Podcast Series or for more information on Better Boards’ solutions, please email us at info@better-boards.com.

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 CEORemember to subscribe and never miss an episode of the Better Boards Podcast Series. It’s available on Apple, Spotify, or Google. To find out how you can participate in the Better Boards Podcast Series or for more information on Better Boards’ solutions, please email us at info@better-boards.com.

Send us a textThe Role of the Board in the Age of Digital TransformationThe subject of this episode of the Better Boards Podcast Series is " The role of the board in the age of digital transformation. "  Lisa Harrington speaks with Dr Sabine Dembkowski.The digital world has impacted the world of the boardroom significantly.  Board members now need to adapt to the threats and challenges the new, digital world presents.Lisa is an internationally experienced FTSE Executive and Non-Executive Director. She has spent 25+ years in customer and digital transformation roles across telecoms, technology, education and utilities businesses.  She spent ten years with Accenture, followed by ten years with British Telecom, including her final role as Group Chief Customer Officer. Lisa is currently enjoying a portfolio career on sits on the Board of Post Office UK and Digital 9 Infrastructure Plc. Her 13 years' board exposure has included a first-hand experience of FTSE listings and de-listings, M&A, digital and product innovations. Some of the key takeaways of the conversation include:"Digital transformation is about changing your whole business model to be fit for the future"Lisa feels that "digital transformation" is a rather outdated phrase.  Some people think it means bringing in apps and devices, but digital transformation is about changing the whole business model to be fit for the future.This transformation was already upon us, but the Covid pandemic has meant the pace of change in digitally transforming the boardroom has accelerated beyond all expectations.  Lisa details how she witnessed "the pace of change of three years in three months."  The pandemic created sudden culture shifts. Many previously rejected changes have gone on to be accepted during this time of upheaval.The importance of digital gaps and how to fill themThis pace of change has affected the role of the board as well.  Lisa emphasises the importance of leadership and establishing a model for people to follow.  She also acknowledges the importance of "digital gaps."  Boards may not currently be prepared to adapt to changes the digital world brings, not just with regard to technology but also in board makeup, skills and experience.She suggests that boards can improve by bringing in people who may be inexperienced in other areas but who could bring the digital skills and technological 'savvy' that could further boost boardrooms when dealing with digital issues."Companies need to look at the mid-term and the long-term, not just short-term"Lisa outlines how boardrooms need to start with everyone wanting to change their culture.  However, she also admits this may mean some legacy businesses risk eroding a business model they already have. "The elephant in the room is huge, but you've got to start"Changing attitudes to the new, digital culture (especially in the boardroom) is a big task.  Lisa believes that getting the right people in and achieving some quick wins can help.  Getting the right people in will help develop a more creative mindset towards digital transformation - one that rRemember to subscribe and never miss an episode of the Better Boards Podcast Series. It’s available on Apple, Spotify, or Google. To find out how you can participate in the Better Boards Podcast Series or for more information on Better Boards’ solutions, please email us at info@better-boards.com.

Send us a textAs a blind man, David has faced many different challenges, while at the same time overcoming them to have an impressive career in banking, as Director of Service of the Royal National Institute of Blind People, and as a Non-Executive Director on the board of the British Paralympic Association, the St Albans and District Chamber of Commerce as well as being a member of the FA Council.Some of the key takeaways of the conversation include:“It’s only when you feel excluded that you become anxious about getting inclusion right”Different voices bring a different perspective to the table.  David relates his own issues growing up blind when as a child he was unable to play sport due to the lack of pathway or access. This extended to rejection by two universities due to lack of resources to include him and eventually being turned down for jobs despite his degree in Politics and Masters in Diplomacy.There has been much progress recently, for example, the pandemic has shown that meetings can be attended virtually, removing one important barrier to inclusion carers or those with difficulty traveling.  However, there are still many practical issues with inclusion.  “You can have the right attitude but getting it wrong on the operational side can leave you floundering”David relates how organisations should be asking whether inclusion is a driver, or if it is simply the right words to remain on the right side of public opinion.  He is quick to emphasise that none of this is about blame, but it is easy to get it right.  Organisations should reach out to affected groups, seek advice about inclusion, and open up pathways for diverse groups where organisations have traditionally been less proportionately inclusive.  Some members of excluded groups may not have the necessary skills for example, and organisations could accelerate the process to give them the skills and experience they need.It does not matter how many people you have in the boardroom, there will be voices not being heard in that roomA sufficiently diverse boardroom is a huge asset, and regardless of the type of organisation, David believes that inclusion should cover those voices that are not currently included in the boardroom.  Boards need to actively consider who is excluded - and how the boardroom could benefit from hearing those voices. Being beneficial in terms of diversity, this also leads to more informed and well-rounded decisions and can avoid stereotyping particular groups.  However, there are barriers to inclusion in the boardroom.  For only one example, screen reader technology is not currently compatible with all major board portals.We often ask “Who is in the boardroom?”, but David Clark asks a very different and powerful question: “Who is not in the boardroom?”  Don’t forget to subscribe never to miss an episode of the Better Boards Podcast Series. Available on all major podcast directories like Apple, Spotify or Remember to subscribe and never miss an episode of the Better Boards Podcast Series. It’s available on Apple, Spotify, or Google. To find out how you can participate in the Better Boards Podcast Series or for more information on Better Boards’ solutions, please email us at info@better-boards.com.

Send us a textThe speed of change in digitisation is ever-increasing, but not all Directors feel at ease with new, digital ways of working in their boardrooms.  However, boards simply must adapt as digitisation does not stop at the boardroom door.  Maddie is a Chartered Secretary who has supported various companies, from FTSE 100 to small private companies. In her current role as UK Managing Director for Computershare Governance Services, she leads a team of Company Secretaries who support listed and private companies to maintain compliance and enhance their governance.  Some of the key takeaways of the conversation include: "We have become more used to virtual meetings… it's not as contrived as it perhaps seems"The pandemic has forced virtual meetings to become everyday occurrences.  Most boards know these bring increased efficiency and reduced cost, but Maddie Scrafton believes that the quality of virtual conversation depends on how willing board members are to embrace it.  She acknowledges the difficulty of creating a natural group dynamic when people are not physically in the room together. Solutions typically include more formal routes, such as additional sub-committees or mid-meetings between more formal meetings, to ensure ongoing discussions in a more relaxed, social way.  However, more innovative or creative solutions have been found in some virtual boardrooms.   Maddie explains how one company pre-recorded presentations, enabling members to focus in the boardroom on the issues raised rather than the presentations themselves.  Sabine also describes one board that served lunch to all members at the same time, simulating eating together. "You need robust debate, and it helps to be in the room" The jump to the virtual world is not always appropriate, and movement toward a hybrid model is becoming increasingly common.  Transactional and "business as usual" decisions are ideal for virtual meetings, however for subjects that might benefit from more challenge, such as strategy or year-end results, in person, 'in the room' meetings will still be better. "It is important for board members to have a consistent understanding of the terminology and meaning of technology" Boards are now more aware of technology and technical terminology. However, although some are increasingly 'tech savvy,' not all boards benefit.  Digital portals may be the standard in the boardroom for larger or FTSE-100 companies. Still, smaller companies may be unaware of the benefits, reluctant to implement, or simply not have considered how technology can help with their working processes.   "We should be making communication simpler, not more complex… Just because you can do something and make it more complex doesn't mean you should" Technology moves quickly, and boards may need to use external advice or board training. Still, many technologies may actually be easy for directors to use at the front end but laborious behind the scenes.  Maddie describes the increasingly complex tasks portal technology can do, such as minute templates, providing market information, and chat functionality.  In practice, very few companies are using even a fraction of this capability, so Remember to subscribe and never miss an episode of the Better Boards Podcast Series. It’s available on Apple, Spotify, or Google. To find out how you can participate in the Better Boards Podcast Series or for more information on Better Boards’ solutions, please email us at info@better-boards.com.

Send us a textIn this episode of the Better Boards Podcast Series we look at the challenges of responding to the ESG agenda, point towards the legal challenges and highlight what good looks like.   Dr Sabine Dembkowski spoke with Anna-Marie Slot and Will Chalk.Rapidly developing legal and voluntary frameworks, stakeholder demands and increasing environmental concerns all mean that ESG is fast becoming a top priority for businesses across the world. To the extent that they ever weren't, boards are now under a legal obligation to respond to certain aspects of the debate – so it's no longer a case of simply wanting to do the right thing, in certain areas it's a question of being compelled to.The IPCC's recent report that climate change is widespread, rapid, and intensifying, are only likely to add further impetus to ESG-related policy responses.  Named Most Innovative Sustainable Lawyer at the FT Innovative Lawyers Awards, Anna-Marie Slot is Global ESG/Sustainability Partner and Global Head of High Yield at Ashurst, leading the firm's ESG strategy. She created and launched the firm's Sustainability Goals, and first digital product, "ESG Ready", as well as its first ESG-related podcast series, "30 for Net Zero 30".Will Chalk is Ashurst's UK Head of Corporate Governance, providing strategic governance advice to FTSE-listed, AIM-quoted and larger private companies, including guiding their responses to the increasingly important ESG agenda.Some of the key takeaways of the conversation include:“Sustainable finance directives keep coming at pace”Increased UK and EU regulation in terms of climate risk is challenging the balance between impact on the environment and other issues, such as the responsibility to stakeholders, workers and community. Companies are now taking a broader view of risk and how external forces can influence it.  Approaching half of the FTSE250 companies now have additional committees, many of them focused on ESG and related issues. “Don’t rush that initial stage”Anna-Marie notes that companies are now taking a more holistic approach of where risk exists and how to address this. Investors are looking at things through “different lenses”, not simply at legal obligations.  Will believes that companies who start with their corporate purpose, and take time to create an ESG roadmap, outline objectives, and develop a framework for their business will pay dividends in the future.  But do the board or senior management have the skills and knowledge to handle these issues? Anna-Marie emphasises leading from the top, working through cross-divisional groups with engagement across the management team, as opposed to having it focused on one particular department.  Different approaches that companies might use include climate champions, taskforces, and forums with a focus on younger employees.  She feels it is important to set both the current and future definitions of “what good looks like”. Some companies need to establish data sources and the baseline to set targets – and acquiring and assuring this data can be difficult.“The best in class will get out there early”CompRemember to subscribe and never miss an episode of the Better Boards Podcast Series. It’s available on Apple, Spotify, or Google. To find out how you can participate in the Better Boards Podcast Series or for more information on Better Boards’ solutions, please email us at info@better-boards.com.

Send us a textAwareness grows that we need people around the table that bring in different perspectives to tackle the challenges of today. However, let´s face it, different perspectives in the boardroom can also be challenging and difficult to handle. Not seldom have I heard that a Directors who bring different perspectives to the table is are perceived to be “difficult”, “annoying”, and “hard to deal with”. It needs skills to turn a different perspective into a value add. I am Dr Sabine Dembkowski, Founder and Managing Partner of Better Boards. We make the boards of the most ambitious organisations more effective. Our mission at Better Boards is to contribute to creating better boards. We do this by providing clients with an evidence-based approach for board evaluations and board development programmes. To fulfill our mission, we give a voice to all who are care about creating better boards. How can we help you and your board to become more effective? We at Better Boards are always delighted to hear from you. Get in touch. You can best reach us at info@better-boards.com. The Better Boards Podcast has been selected as one of the Top 10 Corporate Governance Podcasts by Feedspot.  Remember to subscribe and never miss an episode of the Better Boards Podcast Series. It’s available on Apple, Spotify, or Google. To find out how you can participate in the Better Boards Podcast Series or for more information on Better Boards’ solutions, please email us at info@better-boards.com.

Send us a textThe role of an Executive differs from that of a Non-Executive on a board. The hands-on qualities that are appreciated in an Executive setting might be experiences as interference by management if applied in a board role. Some CEOs make a move to chairman without missing a beat. They understand how to leverage their executive experience and won't interfere with their decisions unless the long-term interests of the business and its stakeholders are threatened. Others, it's fair to say, aren't quite so enlightened and fuel preconceptions that put up barriers for those that wish to make the transition. Welcome to the Better Boards podcast series. In this episode, I am thrilled to talk with Steve Holliday. Steve has been Chief Executive Officer of the FTSE100 organisation National Grid for ten years and has successfully transitioned to Chair and Non-Executive Director.I am Dr Sabine Dembkowski, Founder and Managing Partner of Better Boards. We make the boards of the most ambitious organisations more effective. Our mission at Better Boards is to contribute to creating better boards. We do this by providing clients with an evidence-based approach for board evaluations and board development programmes. To fulfill our mission, we give a voice to all who are care about creating better boards. How can we help you and your board to become more effective? We at Better Boards are always delighted to hear from you. Get in touch. You can best reach us at info@better-boards.com. The Better Boards Podcast has been selected as one of the Top 10 Corporate Governance Podcasts by Feedspot.  Remember to subscribe and never miss an episode of the Better Boards Podcast Series. It’s available on Apple, Spotify, or Google. To find out how you can participate in the Better Boards Podcast Series or for more information on Better Boards’ solutions, please email us at info@better-boards.com.

Send us a textThe Parker review displayed the status of racial diversity on board in the UK and set targets. Progress in appointing Directors with an ethnical background is slow and targets set by the Parker Review for the UK are missed. A group of senior leaders has come together and is committed to taking action to increase racial and ethical diversity in their businesses.  What are their motives? What challenges do they face? Welcome to the Better Boards podcast series. In this episode, Dr Sabine Dembkowski talks with Richard DeNetto from the CBI about increasing racial and ethical diversity on FTSE boards. As our loyal listeners know, our aim is to inspire, share good practice and offer ideas about how you can create more effective and high-performing boards. Richard heads up the initiative Change the Race Ratio. He is close to the over 90 signatories and understands the challenges in initiating change.I am Dr Sabine Dembkowski, Founder and Managing Partner of Better Boards. We make the boards of the most ambitious organisations more effective. Our mission at Better Boards is to contribute to creating better boards. We do this by providing clients with an evidence-based approach for board evaluations and board development programmes. We make the boards of the most ambitious organisations more effective. We do this by providing clients with an evidence-based approach for board evaluations and board development programmes. To fulfil our mission, we give a voice to all who are care about creating better boards.Richard DeNetto was Associate Director for the CBI East of England before joining the team to launch Change the Race Ratio alongside business leaders in Aviva, Deloitte and Schroders.  Richard has a track record of running people related businesses and operations across both management and director level staffing firms and as the CIPD’s Chair for Cambridgeshire and Treasurer for Mid and North Anglia.  Improving Ethnic and Racial diversity in business is personally important to Richard.  Richard is of mixed ethnicity Asian and White.  Is father’s side of the family are proudly Anglo Indian emigrating to the UK from India in the 60’s.How can we help you and your board to become more effective? We at Better Boards are always delighted to hear from you. Get in touch. You can best reach us at info@better-boards.com. The Better Boards Podcast has been selected as one of the Top 10 Corporate Governance Podcasts by Feedspot.     Remember to subscribe and never miss an episode of the Better Boards Podcast Series. It’s available on Apple, Spotify, or Google. To find out how you can participate in the Better Boards Podcast Series or for more information on Better Boards’ solutions, please email us at info@better-boards.com.