Monthly Archives: March 2022

48 additional board appointments for IDN members

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25 March 2022

Members Board & Corporate Governance Positions Announcement 1 September 2021 to 31 January 2022

INSEAD International Directors Network, IDN, is proudly sharing the recent appointments of board and corporate governance positions of our members, truly recognizing our members and the strength of our IDN network.

IDN members has been appointed to 48 new board positions in 19 countries, summing up to 545 position announcements since 2017.

As a member of IDN, the network of INSEAD International Board Directors, with full membership open to all INSEAD Alumni with appropriate directorship experience and which is automatic for Certified Directors (IDP-C) from INSEAD’s International Directors Programme (IDP), you can be truly proud of your network!

You find the IDN members with new board positions below, and why don’t you help share our network’s achievement via Linkedin, to help position also yourself and your membership of a vibrant network via this LinkedIn post.

And take the time to connect with your fellow IDN members at LinkedIn and expand your board contacts, by clicking their names below and connect with them!

IDN works closely with INSEAD Corporate Governance Centre, which undertakes cutting-edge research and teaching tailored to the needs of boards and international directors. It fosters a global dialogue on the challenges of corporate governance and leadership in an international context.

INSEAD Directors’ Network – Members New Board & Corporate Governance Positions

IDN members – Certified IDP-C Board Directors

Carlos Alonso-Marum – https://www.linkedin.com/in/carlos-alonso-marum/ December 2021 – Chairman of the Board at Cardioline S.p.A. (PE-backed, HQ Italy)

Carin Beumer– https://www.linkedin.com/in/carin-beumer-40840328/ December 2021 – Non-Executive Board Director ACSSA & Aiglon College Association (Private, HQ Switzerland)

Deborah Carlson-Burkart – https://www.linkedin.com/in/d%C3%A9borah-carlson-burkart/ November 2021 – Board and ACC member at RUAG International Holding SA, (Government owned, HQ in Switzerland),  October 2021 – National Office Board member,  Right to Play Foundation (Non-for-profit, HQ Canada)

Katia Ciesielska – https://www.linkedin.com/in/katiaciesielska/December 2021 – Non-Executive Director at Main Source S.A. (Sorgente Group, Private, HQ Luxembourg)

Elisabetta Cugnasca – https://www.linkedin.com/in/elisabetta-cugnasca-1162a94/ September 2021 – Independent board member at Zurich Bank Italy (Private, HQ Italy)

Gerry Fitzpatrick  https://www.linkedin.com/in/dhersmp/ July 2021 – Chairman at Virtu ITG Europe Limited (a subsidiary of Virtu Financial) (Private, HQ Ireland) and September 2021 – Non-executive Director at University College Dublin (UCD) Foundation (Private, HQ Ireland)

Ioannis Georgoulas – https://www.linkedin.com/in/john-georgoulas/ January 2022 – Non-executive Director at Swissquote (Private, HQ Switzerland)

Fennemiek Gommer – https://www.linkedin.com/in/fennemiekgommer/ September 2021 – Chairman at Walraven (Family-owned, HQ The Netherlands)

Michael Hilb – https://www.linkedin.com/in/michaelhilb/ January 2022 – Chairman at International Board Foundation (Private, HQ Switzerland)

Sirin Kont – https://www.linkedin.com/in/sirinkont/ – July 2021 – Chairman of the Executive Board at American International School Vienna (Not-for-profit, HQ Austria)

Max Kraynov –  https://www.linkedin.com/in/maxkraynov/ October 2021 – Chairman at Aviasales (Private, HQ Russia)

Saskia Kunst – https://www.linkedin.com/in/saskia-kunst-25b90531/ January 2022- Non-Executive Director and Member of the Board at Jee Subsea Engineering & Training Ltd. (Private, HQ United Kingdom)

Emmy Labovitch – https://www.linkedin.com/in/emmy-labovitch-finance-ned/ December 2021 – Independent NED and Chair of Risk and Investment Committee at Foresters Life (Private, HQ Canada)

Rob Lelieveld – https://www.linkedin.com/in/roblelieveld/ September 2021 – Non Executive Director at NN Group NV (Listed, HQ The Netherlands)

Richard Lepere – https://www.linkedin.com/in/richard-l-8453617/ January 2022 –  Independent Non-executive Director at Clearstream Fund Centre AG, Zurich Switzerland, Deutsche Boerse Group(Private, Switzerland), and December 2021 – Partner at EGP-European Governance Partners, Munsbach Luxembourg (Not for Profit, HQ Luxembourg)

Karen Loon – https://www.linkedin.com/in/karenloon/ November 2021, Member of the Governing Council and Audit Committee Chair at Singapore Institute of Directors (NGO, HQ Singapore)

Magdalena Manea – https://www.linkedin.com/in/magda-manea-b5ba93/ July 2020 – Chair at Seedblink Investors (Private, HQ Romania), October 2021 – Trustee at Romanian American Foundation (Not-for-profit, HQ US)

Marina Niforos – https://www.linkedin.com/in/marina-niforos/ January 2022 – Member of Advisory Board at Urban Impact Ventures (Private, HQ The Netherlands)

Ludo Ooms – https://www.linkedin.com/in/ludoooms/ – January 2022 -Non-Executive Board Director at Maatwerkbedrijf BWB (Private, HQ Belgium)

Helen Pitcher OBE – https://www.linkedin.com/in/helenpitcher/ – Chairman at Public Chairs Forum (Government, HQ United Kingdom)

Monica Porfilio – https://www.linkedin.com/in/monica-porfilio-82925358/ January 2022 – Non-Executive Board Director at Gestielle Investment SICAV (Private, HQ Luxembourg)

Enrica Rimoldi – https://www.linkedin.com/in/enrica-rimoldi-99b27929/ January 2022 – Supervisory Board and Audit Committee member at UniCredit Bank Czech Republic and Slovakia, AS (Regulated, Private, HQ Czech Republic)

Annemieke J.M. Roobeek – https://www.linkedin.com/in/annemiekeroobeek/ November 2021, Non-Executive Board Director at Floating Duck B.V. (Private, HQ The Netherlands)

Andy Schwarzenbach – https://www.linkedin.com/in/schwarzenbach/ September 2021 – Board Member at Flexoffice (Schweiz) AG (Private, HQ Switzerland)

James Sibley – https://www.linkedin.com/in/james-sibley-31b943/ October 2021 – Non Executive Board Director at United Eastern Medical Services (Private, HQ United Arab Emirates)

Oern Stuge – https://www.linkedin.com/in/oern-stuge-5bb93413/ December 2021 -Chairman at TegoSens, (Private, HQ USA)

Jeremy Tan – https://www.linkedin.com/in/jeremytanqw/ September 2021 – Chairman of the Non-Executive Director (NED) Network in Singapore for Winmark Global (Private, HQ Singapore)

Doris Tomanek – https://www.linkedin.com/in/doris-tomanek-68422b13/ November 2021- Member of the Supervisory Board at Schoellerbank AG (Private, HQ Austria)

Axel Tombereau – https://www.linkedin.com/in/axeltombereau/ October 2021- Non-executive director of Aleda (Private, HQ France)

Helen Wiseman – https://www.linkedin.com/in/helenwiseman/ September 2021 – Non -executive Director at SFI Investment Trust (owns Soho Flordis International global healthcare business.  December 2021 – Non-executive Director and Chair of the Audit & Risk Committee at Delica Therapeutics Limited (Private, HQ Australia)

Konstantinos Yazitzoglou – https://www.linkedin.com/in/konstantinos-yazitzoglou/ September 2021 – Non-executive Director at Faliro House SA (Private, HQ Greece)

Anna Zanardi Cappon – https://www.linkedin.com/in/annazanardicappon/ – September 2021 – Non-executive Director and Chair of Remuneration Committee at Salvatore Ferragamo S.p.A. – (Listed, HQ Italy)

IDN Members – Board Directors

Stephane Bellanger – https://www.linkedin.com/in/stephanebellanger/ September 2021 – Board member at PMEX (Private, HQ France)

Antonio G. Dottore – https://www.linkedin.com/in/antoniodottore/ January 2022 – Non-Executive Chair of the  Academic Board at Australian Institute of Applied Blockchain, (Private, HQ Australia) and December 2021 – Member and Secretary of  Committee of Italians Abroad (Com.It.Es.) (Government, HQ Australia)

Wu Gang – https://www.linkedin.com/in/wu-gang-48b03634/  October 2021-  Non-Executive Director and member of the Audit and Risk Committee and Management Engagement Committee at Tritax Big Box REIT Plc ( Private, HQ United Kingdom)

Elissa Grey – https://www.linkedin.com/in/elissagrey/  January 2022 – Non Executive Director at Reed Smith LLP (Private, HQ USA)

David Kalife – https://www.linkedin.com/in/davidkalife/ January 2022 Non Executive Board Director at RPRE (Right People Right Energy) ( Private, HQ Singapore)

Jean Marc Lechene – https://www.linkedin.com/in/jean-marc-lechene-343a302a/ December 2021 – Non Executive Director at Lamprell plc (Listed, HQ United Kingdom)

Enoch Li – https://www.linkedin.com/in/nochnoch/ December 2021 – Board Director at United for Global Mental Health (Charity/NGO, HQ United Kingdom)

Thomas Mason – https://www.linkedin.com/in/thomaswmmason/ February 2021 – Non-Executive Director at Farm Engineering Services a Phatisa Fund II Portfolio Company (Private, HQ Mauritius)

Olivier Noel – https://www.linkedin.com/in/olivier-noel-3273636/ September 2021 – Non Executive Director and member of Audit, Risk and Strategy Committees at Activa Finance (Private, HQ Mauritius)

Daniel Wright – https://www.linkedin.com/in/dan-wright-24574195/  – January 2022 – Non-executive Chairman at UInsure Limited (Private, HQ United Kingdom).

 

Previous announcements and more information

Previous board position announcements by shared by IDN;

October 2021 July 2021 April 2021 December 2020  September 2020 March 2020 October 2019 July 2019  February 2019  November 2018 July 2018 April 2018  January 2018   October 2017

For organisations interested in partnering with IDN, please contact IDN President, Helen Pitcher OBE, at [email protected]

On Behalf of the INSEAD International Directors’ Network Board

Women chairs to drive diversity across the business

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This International Women’s Day 2022, Helen Pitcher OBE, IDN President shares her thoughts on the role that women chairs play as a driving force for diversity across businesses.

It is widely recognised that the two critical dimensions driving equality in the organisational and business workplace are the roles of Chairman and CEO.  Currently however, they are acting as barriers to progression, with the woeful lack of diversity in our Chairs, CEO’s and Executive Leadership populations.  The recent FTSE Women Leaders Review Feb 2022 again highlighted this issue especially in the CEO and Executive Leadership landscape.

“The number of women in the very top job, that is the CEO remains flat and stubbornly low, and there is much more to do on Executive Committees.”

The annual Female FTSE Board Report by Cranfield University shows a positive gender progression at the NED Board level, but throws into stark relief the lack of progress on gender equality in the C-Suite, with the female Chairman leadership of our Boards at 11% in the FTSE 100 and 14% in the FTSE 250 and with only 8% female CEOs across the FTSE 350.  Additionally, female participation in executive leadership has flatlined at 13.7% in the FTSE 100 and 11.2% in the FTSE 250.

We are relying on traditional and slow solutions to solve an unsustainable situation; we need to employ spiralling creativity and innovation to drive change.  This should be a revolution of action, thought and imagination to break the mold and learn new ways of thinking and acting.

The classic rationalisation to the lack of progression for women in CEO, Executive Committees and Senior Leadership roles is the ‘supply deficiency.’  The research done by Assistant Professor Shirley Lu (Harvard Business School) indicates that we could be waiting a long time for the ‘supply side’ environment to change voluntarily.  At the same time, we have the insight from the Cranfield Report of the many capable female leaders who are around, ready and able to fulfil these most senior roles.

While the average tenure of CEO’s at 5 years, provides an insight into their short-term focus, there is little excuse for Chairman to ignore this inequality with their generational stewardship of the business.

In a recent article I suggested that Quotas was the only way to break this log jam, starting with the role of the Chairman at 40%, in order to drive diversity throughout our companies.  The female Chairs are available, ready and waiting for these appointments as demonstrated by the Cranfield Report.

It is time to act, and let’s not kid ourselves that ‘voluntary’ action alone will solve this issue.  The original 2011 Davis Review ‘Women on Boards’ was commissioned and driven by the Government who were concerned about the slow rate of progress of women onto Boards.  It did not spontaneously emerge for companies, the FRC or Companies industry bodies seeking to drive change.

The FTSE Women Leaders Review which is supported by Government and builds on the work, and success, of the Davies and Hampton-Alexander Reviews, has recognised this dilemma.  The Review has set a new recommendation for the Senior Leadership of the FTSE 350 business.  Namely, that a women should be in at least one of the most senior roles in a FTSE 350 business by 2025.  Those roles are the Chair, Senior Independent Director, CEO or CFO.  While this is a good first move, it fails to recognise the dominance of the Chair and CEO roles as the primary driving force for diversity across our businesses.

The Chairman and CEOs have had their chance to progress voluntarily, and they have failed.  It is now time for Governments, Regulators, Female Chairs, NEDs and the Diversity Lobbying Bodies, to say enough is enough, the time for substantive action to break the behavioural anchors has arrived.  Only an immediate progress on the levels of Women Chairman will drive out this inequality of female CEO’s and Leadership Executives across our business landscape.  I would be delighted to see the FTSE Women Leaders Review Recommendation drive a significant upward movement to a 40% target of women Chairs, I remain vigilant however, as to what will be achieved by the end of 2025.

IDN celebrates International Women’s Day 2022

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IDN celebrates International Women’s Day 2022

Over 50% of IDN’s board members and ambassadors are women

This March 2022, INSEAD Directors Network (IDN) celebrates International Women’s Day.

In line with INSEAD’s commitment to cultivating a community that pursues equity, exemplifies inclusion, and cherishes diversity, IDN’s board embraces gender diversity.

As of 8 March 2022, four out of the eight IDN board members (including our President, Helen Pitcher, Helen Wiseman, Pamela Ravasio and Karen Loon) are female.

Further, following the recent appointment of Mary Antenen as our IDN Swiss Ambassador, 12 of our 20 IDN ambassadors (60%) are women.

Why is greater board diversity important for organisations?

  • It makes business sense. To date, academic and business research has focused on the business case for greater board diversity and have sought to demonstrate a correlation between board diversity (principally gender) and greater financial performance. This includes a broad range of areas, including financial position/performance, public disclosure, socially responsible behaviours, firm decisions, philanthropy, reputation, and innovation.[1]In 2020, a study in Australia by Curtin University took this a step further and found a causal link between greater numbers of women on boards and in leadership and better financial performance.
  • Stakeholders expect it – In line with the global focus on stakeholder capitalisation and sustainability, investors increasingly expect organisations to have greater board diversity. For example, in the past 12 months, several asset managers have updated their proxy voting requirements on gender diversity to now cover listed companies in some markets in Asia. Further, increasingly more governments, regulators, professional organisations and advocacy groups have released regulations and guidelines which encourage improvements in the pipeline of available diverse candidates for boards. These include a greater focus on disclosure of board diversity policies and reporting measurable progress in improving board diversity.

Yet, whilst women are estimated to hold 19.7% of board seats globally, a 2.8% increase from 2019, progress has been slow and inconsistent. Further, according to Deloitte, only 6.7% of board chairs are women, and only 5% hold the CEO role.

While many argue that it is important to have at least 30% women on board, having greater diversity without a focus on board dynamics will not necessarily lead to greater performance.

Board chairs and other directors also need to create inclusive cultures that allow healthy discussion and dialogue in a safe space.

How can IDN members support greater diversity in the boardroom and #breakthebias?

Create the right culture and board dynamics

  • Invest time in group dynamics and board development. For boards to be effective, it is vital to create the right environment and dynamics in the boardroom. In our IDN webinar on Positive Board Dynamics and Coaching: Key to Superior Performance held on 8 July 2021, Professor Vincent Dominé of INSEAD highlighted that “collective behaviour at the board level has an 800% greater impact on a firm’s performance than the characteristics of individual directors”, according to the benefits of boards working effectively as a team. Emphasising the importance of having psychological safety in the boardroom, Professor Domine highlighted that investing time in group dynamics and board development is essential.
  • Adopt Fair Process Leadership. Another framework that supports better board dynamics is Fair Process Leadership. Many IDP attendees would be familiar with the importance of having Fair Process Leadership in the boardroom. As Professor Ludo van der Heyden of INSEAD argues: “the sustained practice of fair process leads to greater value creation for a corporation’s stakeholders and increases the trust that society awards the business. Fairness is not an option: it is fairness for the board and ultimately business performance.” Using the FPL framework in the boardroom will support greater board effectiveness.

Grow the pipeline of female directors

  • Mentor aspiring and new female directors. The journey to becoming a director is often opaque. IDN’s experience is that board mentors play a key role in supporting the successful transition of senior executives and new directors into their roles. As one of our IDN mentees said in 2020: “Normally it takes years to come up the NED learning curve…and a few mistakes along the way. My mentor saved me a year or two easily.”
  • Encourage greater diversity in your organisations – Understand from the management of the organisations where you are a board member how they manage diversity. Ask them questions such as: how does greater diversity align with your organisational purpose, lived values, and behaviours? What are some of the inhibitors, both conscious and unconscious, inhibiting change? How is greater diversity embedded into all areas of your organisation, including beyond talent management? And are your organisation’s senior management (especially women) encouraged to take on external board roles as part of their leadership development programmes?

 

Karen Loon IDP-C is an IDN Board Member

[1] For example, refer to the overviews of recent research by Kagzi and Guha (2018) at https://www.emerald.com/insight/content/doi/10.1108/JSMA-01-2017-0002/full/html, and Salma and Qian (2021) at https://www.journalofbusiness.us/index.php/site/article/view/182.