Most of people are not good enough to become a non-executive director

By Jean-Philippe

Over the last 4 years, I’ve met with numerous aspiring non-executive directors.

I came to this conclusion: it is probable you will never be a non-executive director.

Assuming you show an interest in NEDonBoard or you contact me, here are the rough probabilities you can use as a guideline: your chance of becoming a non-executive is about 45%. In other words, 55% of you will never become a non-executive director; 20% of you are ready and a Board is waiting for you; 25% of you are in the process of making it: with the right training, connections, mentorship and persistence, you will get there.

You not only need the right skill set, the right experience and emotional intelligence but also sufficient willingness. Most of the time, I meet exceptional individuals with a great executive career who have achieved astonishing accomplishments. Nevertheless, I see them struggling to get a role, while they have the capability to be effective and successful in their non-executive director role, they bring their executive mindset to the Boardroom (and as such, damaging their reputation). Being a non-executive director is a very serious job. You should approach this role …read more

Read more here:: Most of people are not good enough to become a non-executive director

Why NEDonBoard launched its board best practice series and why best practice documents and panel events benefit non-executive director and board members

By Elise Perraud

NEDonBoard launched its board best practice series in 2017. Here are the 3 reasons behind our commitment to publish board best practice guides:

  • Connection: NEDonBoard connects professionals around a best practice topic. Professionals include seasoned executives, non-executive directors, consultants and boardroom experts. They constitute our taskforce and contribute to the various brainstorming sessions that lead to the guide. NEDonBoard hosts an event on the back of each board best practice’ task force and guide.
  • Knowledge: NEDonBoard provides professional development content to its audience of aspiring and experienced non-executive directors and board members. The best practice guide aims at advancing knowledge among non-executive directors and board members.
  • Authority: NEDonBoard sets the standards for effective governance within the non-executive director and board member community. We represent the voice of non-executive directors and board members in the UK as the Professional Body. We provide guidance to non-executive directors and board members in the exercise of their professional responsibility.

To date, our members had the opportunity to hear about board best practices on the following topics:

On Tuesday 24th April, NEDonBoard is hosting its panel event on Board …read more

Read more here:: Why NEDonBoard launched its board best practice series and why best practice documents and panel events benefit non-executive director and board members

How to Best Engage in Your Role as a NED

By Team NEDonBoard

Top 5 take-aways on how to best engage in your role as a NED – an interview with Michael Winslow

  • During your due diligence / induction, impromptu visits into the business can help better understand it and what is going on. This means being proactive; when things are not purposely and perfectly setup, then you see the real day-to-day workings within an organisation;
  • Invite open conversation as a Non-Executive Director (NED). Importantly, do not critically attack the executive or employee during these conversations as this can shut down honest insights into the business – instead ask questions to better understand what is going on and what can be improved upon;
  • Change behaviour before you change process;
  • Ask employees what they think are best practices that they can engage in. The board only has a limited view within an organisation and a business is stronger when everyone takes responsibility for being effective;
  • Balance and boundaries are important as a NED – there needs to be balance between doing your duty, being flexible and inquisitive in your role, as well as well as maintaining your independence.

Michael Winslow is a ‘successful Senior Executive who has experience at board level in both Executive …read more

Read more here:: How to Best Engage in Your Role as a NED

The 5 factors that contribute to an effective corporate governance

By Elise Perraud

On 20th March, NEDonBoard hosted its annual conference. We had the pleasure to be joined by Jeremy Small as a keynote speaker who addressed the audience on the importance of effective corporate governance and the role of the NED sitting in the boardroom.

Corporate governance is the structure and processes designed to create long-term value. The effectiveness of an organisation’s corporate governance can be attributed to the 5 main factors:

1. The Corporate Governance Code

The UK Corporate Governance Code has evolved from its original formulation produced in 1992 by the Cadbury Committee. While the 1992 edition of the code was quite succinct and focused on control and accountability, the current version is much broader. But failures and scandals have continued while the Code has been meaningfully strengthened. As the Carillion’s collapse illustrates, a company can have an extremely sophisticated governance but things may still go wrong. Compliance with the Corporate Governance Code is not sufficient. There are other factors contributing to effective corporate governance.

2. Behaviour and culture

3. Skills, experience, integrity

4. A clear understanding of what the NED role entails

5. A reminder of the directors’ statutory duties

The NED should not only follow the provisions of the Corporate Governance Code. He/she …read more

Read more here:: The 5 factors that contribute to an effective corporate governance