By Emma Ford
Insights from David Gelber:
Whilst most of my NED positions are, and have been in the financial services area several have not been. What I have learnt from this diversity is first and foremost the absolute need for NEDs to understand the business of the company. It is of little or indeed negative value to distance oneself from this and concentrate on “corporate governance”. If you are unwilling or unable to develop such an in depth understanding do not serve as an NED.
For those NEDs from non-financial backgrounds who wish to serve with companies in that sector the most crucial skill these days is understanding the ever changing and ever more onerous and obtrusive regulatory regime. My advice to such candidates is simple: “Think twice before accepting the position”!
What I enjoy most from my NED roles is the ability to cross reference one’s experience in one company with issues arising in another. Whilst some problems/issues are unique to one company, it is surprising how many occur across one’s portfolio.
On this note, it’s worth thinking, readers, how do your roles and experiences relate to one another?
David Gelber currently serves as the Chairman of Walker Crips Plc, a full service …read more
Read more here:: What must non-executives understand? – David Gelber