47 new board positions for IDN members

INSEAD’s International Director Network, IDNis proudly sharing the recent appointments of board and corporate governance positions of our members from 1 February 2022 to 30 June 2022, truly recognizing our members and the strength of our IDN network.IDN members has been appointed to 47 new board positions in 24 countries, summing up to 598 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 INSEADs International Directors Program (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!  To date, IDP has been completed by 1,732 IDP and IDPB participants, with 1658 certified IDP-C/ IDBP-C directors, and our International Board Network IDN of INSEAD Alumni of 1,526 members.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 Doris Albisser https://www.linkedin.com/in/doris-albisser-4b094aa/ February 2022 –  Chairman at Memox Innovations AG, Switzerland (Private, Switzerland) Carsten Bennikehttps://www.linkedin.com/in/carstenbennike/ April 2022 – Non Executive Director  at Plus Pack A/S (Private, HQ Denmark) Peter Corijnhttps://www.linkedin.com/in/peter-corijn-0929303/ May 2022 – CEO and member of the Board of Van de Velde, (Listed, HQ Brussels) Kelvin Chan Tak Onhttps://www.linkedin.com/in/kelvinchantakon/ July 2021 – Board of Advisors at Spectrum International College (Private, HQ Malaysia), Global Fundraising Director at LESCOTA (NGO, HQ Tanzania), March 2021 – Chairman at Inno GREEN Project Organization (NGO, HQ Canada). Jeanne Christensenhttps://www.linkedin.com/in/jeanne-christensen-701548b/ March 2022 – Non Executive Director at BrandFix Denmark (Private, HQ Denmark) and Non-Executive Director at RAZ Skincare (Private, HQ Denmark ) Katia Ciesielskahttps://www.linkedin.com/in/katiaciesielska/March 2022 – Non-executive Director at Emeram Capital Partners (Private, HQ Germany) Timothy Cosulich https://www.linkedin.com/in/timothy-cosulich-b07a671/ April 2022 – Chairman at International Bunker Industry Association (IBIA) (NGO, HQ UK) Magali Deprashttps://www.linkedin.com/in/magalidepras/ April 2022 – Board Member at EEQ (Eco-Entreprises Quebec) (NGO, HQ Canada) Liselotte Engstamhttps://www.linkedin.com/in/liselotteengstam/ May 2022 – Non-Executive Board Director at Cint (Listed, HQ Sweden) Anna Erathttps://www.linkedin.com/in/anna-erat-md-phd-a66978/ – May 2022 – Non-Executive Director at Dynamic Devices AG, Technopark – Zurich (Private, HQ Switzerland) Lale Saral Develiogluhttps://www.linkedin.com/in/lale-saral-develioglu-a440451/ April 2022 – Non Executive Director at Coca Cola Bottling (Listed, HQ Turkey) and Non Executive Director at Anadolu Isuzu (Listed, HQ Turkey) Anna Erat https://www.linkedin.com/in/anna-erat-md-phd-a66978/ February 2022 – Board member at International Monobob Club St. Moritz (Private, HQ Switzerland) Daniel Flammer –  https://www.linkedin.com/in/daniel-flammer-964a7315/ April 2022 – Non-Executive Board Director and Audit Committee Member at Medmix AG (Listed, HQ Switzerland) Alison Gaineshttps://www.linkedin.com/in/alisongaines/ April 2022 – Non Executive Director at Western Australia Opera (Not For Profit, HQ Australia) Fernand Grulms –  https://www.linkedin.com/in/fernandgrulms/  April 2022 – Non Executive Director at Boralex Europe Sàrl (Private, HQ Luxembourg) Michael Hilbhttps://www.linkedin.com/in/michaelhilb/ – May 2022, – Board Member at ecoDa (NGO, HQ Belgium)  Thomas Huerlimannhttps://www.linkedin.com/in/thomashuerlimann22/ April 2022 – Non Executive Director (representing Swiss Re) at Leadway Assurance Company Ltd (Private, HQ Nigeria) Bruno Mercierhttps://www.linkedin.com/in/bruno-mercier-%E6%A2%85%E6%80%9D%E5%8B%B0%EF%BC%89-95a73541/February 2022 – Supervisory Board Independent Director and Chairman of Strategy and Investment Committee at City Holdings Co., Ltd (Private, Myanmar) Louise Nicolinhttps://www.linkedin.com/in/louisenicolin/ April 2022 – Chairman at Sensum AB (Private, HQ Sweden) Helen Pitcherhttps://www.linkedin.com/in/helenpitcher/Vice President of Global Clubs at INSEAD Alumni Association (Private, HQ UK) Monica Porfiliohttps://www.linkedin.com/in/monica-porfilio-82925358/ January 2022 – Non-Executive Board Director at Gestielle Investment Sicav, Luxembourg (Private, HQ Luxembourg) and April 2022 – Non-Executive Board director at Fondaco Lux S.A. (Private, HQ Luxembourg) Andrea Prencipehttps://www.linkedin.com/in/andrea-prencipe-b463a7b/ May 2022 – Non executive Director at Satispay International Sarl, (Privately Owned, HQ Luxembourg) Enrica Rimoldihttps://www.linkedin.com/in/enrica-rimoldi-99b27929/April 2022 – Statutory auditor at DeA Capital SpA (Listed, HQ Italy) Regine Slagmulderhttps://www.linkedin.com/in/regine-slagmulder-9a1956/ March 2021 – Non-Executive Director & Chair Audit Committee at Ekopak NV (Listed, HQ Belgium) Luc Sterckxhttps://www.linkedin.com/in/luc-sterckx-6b078253/ – June 2022 – Chairman at OCTAVE, (Private, HQ Belgium) Donough Tierneyhttps://www.linkedin.com/in/donough-tierney/ January 2022- Board Advisor at Skyfly Tech (Private, HQ UK), July 2021- Board Advisor at MPS Aero (Private, HQ Netherlands) Jillian van Turnhout https://www.linkedin.com/in/jillianvanturnhout/ April 2022 – Non Executive Board Director at Private Security Authority (State Board, HQ Ireland) Lee Bee Wah – (no Linkedin)  April 2022 – Board member and Chairman for Nominating Committee at Heeton Holdings Limited (Listed, HQ Singapore) Anna Zanardi Cappon –  https://www.linkedin.com/in/annazanardicappon/ – April 2022 – Non Executive Director at CONSEL ELIS (Private, HQ Italy)  IDN Members – Board Directors Giedrius Dusevicius https://www.linkedin.com/in/giedrius-dusevicius-02a0b927/February 2022 – Chairman of Supervisory Council at UAB Valstybes Investiciju valdymo agentura (Government, HQ Lithuania) Lisa Marie K.Y Djenghttps://www.linkedin.com/in/lisa-marie-k-y-djeng-cesga-cma-cams-csm-691523/ April 2022 – Member of the Board of Trustee of the Hong Kong Jockey Club Music and Dance Fund (Private, HQ Hong Kong) Diana Ganhttps://www.linkedin.com/in/diana-gan-9081433/ March 2022 – Independent Non-executive Director at KYM Holdings Berhad (Listed, HQ Malaysia) Carmit Glik https://www.linkedin.com/in/carmitglik/April 2021 – Board member at Marine Shipp Fast (Canada) INC (Private, HQ Israel) and at Marine Shipp Fast (Vietnam) Limited (Private, Israel) Paul Huynhhttps://www.linkedin.com/in/paulhuynh/March 2022 – Non-Executive Board Director at USA Hello (NGO, HQ USA) Uwe Klapproth  – https://www.linkedin.com/in/uwe-k/February 2021 – Non Executive Director at MGF (EU) N.V. (Private, HQ Belgium) Massy Larizadehhttps://www.linkedin.com/in/massy-larizadeh-894a251/ – May 2022 Non Executive DirectorRegional REIT Limited (Listed, HQ UK) Thabo Limema  – https://www.linkedin.com/in/thabolimema/March 2022 – Non-Executive Chairman at Social Coding (NPO, HQ Pretoria, South Africa) Roy Linghttps://www.linkedin.com/in/roycyling/March 2022 –  Independent Director and Audit Committee Chairman at VinFast Trading & Investment Pte Ltd (Private, HQ Singapore) Frederik-Jan Umbgrovehttps://www.linkedin.com/in/frederik-jan-umbgrove-93b532/Q1 2022 – Chair of the Audit Committee of the Supervisory Board (NED)  at Lloyds Bank GmbH (Private, HQ Berlin, Germany)

Previous announcements and more informationPrevious board position announcements by shared by IDN;March 2022 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 2017For organisations interested in partnering with IDN, please contact IDN President, Helen Pitcher OBE, at [email protected]

48 additional board appointments for IDN members

25 March 2022

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

INSEAD International Directors Network, IDNis 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 Beumerhttps://www.linkedin.com/in/carin-beumer-40840328/ December 2021 – Non-Executive Board Director ACSSA & Aiglon College Association (Private, HQ Switzerland)

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

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

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

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

Sirin Konthttps://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 Kunsthttps://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 Labovitchhttps://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 Lelieveldhttps://www.linkedin.com/in/roblelieveld/ September 2021 – Non Executive Director at NN Group NV (Listed, HQ The Netherlands)

Richard Leperehttps://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 Loonhttps://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 Maneahttps://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 Niforoshttps://www.linkedin.com/in/marina-niforos/ January 2022 – Member of Advisory Board at Urban Impact Ventures (Private, HQ The Netherlands)

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

Helen Pitcher OBEhttps://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 Schwarzenbachhttps://www.linkedin.com/in/schwarzenbach/ September 2021 – Board Member at Flexoffice (Schweiz) AG (Private, HQ Switzerland)

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

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

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

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

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

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

Anna Zanardi Capponhttps://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. Dottorehttps://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 Ganghttps://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 Greyhttps://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 Lechenehttps://www.linkedin.com/in/jean-marc-lechene-343a302a/ December 2021 – Non Executive Director at Lamprell plc (Listed, HQ United Kingdom)

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

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

Olivier Noelhttps://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 Wrighthttps://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

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.

Get to know Tony Whiteman, IDN Board Member

Tony Whiteman IDP-C who joined the IDN Board in late 2021, will be supporting our IDN members. Get to know him!

After growing up and being educated in New Zealand, I was given a one-way ticket to the UK to see the world. It was a fun journey experiencing London life, working in an advertising business and the obligatory ‘live/work’ in a pub. Sport has always been a big part of my life and it was rugby which took me to Luxembourg in 1993. I became an FX Dealer and met my wife during enjoyable years in Luxembourg. In 1997 we moved to London where I transitioned into the project management, consultancy field in the City operating independently. After completing an MBA, I embarked on a couple of roles in Interim Management for a corporate services provider and a community website for Physiotherapists. On the private investment side, I developed a small residential property portfolio and helped develop a wholesale insurance broker.

By 2004 our family had doubled (Oscar & Chloe), and we decided to relocate back to Luxembourg to enjoy the more sedate family life. After three years as Business Development Director for the corporate services provider in Luxembourg I was approached to act as an Independent Director for a number of Blackstone investment vehicles. The relationship with Blackstone has continued and I am currently involved with the Private Equity, Private Debt and
Alternative Asset Management areas as an  Independent Director. Over the years I have been engaged as an Independent Director to provide governance for a number of international investment, corporate and family office groups (including Deutsche Bank, Whirlpool, Abbot, SurveyMonkey). In 2014 I completed the INSEAD International Directors Program and became an IDP-C.

I have continued to invest in private residential assets, engaged in personal private equity investment and providing seed capital for a small number of Luxembourg based startups.

The family has grown with Sophie & Hannah joining us. While the rugby stopped in 2009, I managed to continue competitive cricket representing and captaining Luxembourg till 2021. Golf is now the challenge, its way more difficult than I thought it would be so will keep me focused for many years
to come.

While a capitalist society is based on the financially fueled demand/supply functions there is still a real need for community volunteers. I have been involved with both the cricket club and federation committees, assisted the rugby club and have recently helped create the Australia, New Zealand Chamber of Commerce Luxembourg (ANZCCL). Also started mentoring potential Independent Directors via
the Luxembourg Institute of Directors.

With the family growing up and reducing the day-to-day need for Mum & Dad to be involved I was happy to consider being a candidate for the IDN Board. I look forward to learning the operations of the IDN Board and supporting the association in developing good governance around the globe via the INSEAD Directors Network.

Introducing Sadia Khan, IDN Award Winner

In October 2021, INSEAD Directors Network (“IDN”) announced the three winners of the IDN Awards 2021.

The winner of IDN’s Good Governance Award, new in 2021 for excellence in governance, was Sadia Khan, Commissioner, Securities & Exchange Commission of Pakistan, MBA 1995, and IDP-C.

Sadia has pursued a versatile career path traversing investment banking, financial regulation, family businesses and entrepreneurship across three continents. In addition, she has been a passionate advocate of corporate governance for the past two decades. In 2018, she published The Corporate Governance Landscape of Pakistan, a historical anthology of work already accomplished under the realm of corporate governance as well as a reference book for future regulators, educators, and practitioners.

While at the ADB, Sadia helped implement corporate governance reforms in a number of member countries in South East Asia. As a senior member of the Securities & Exchange Commission of Pakistan, she was responsible for implementing the first Code of Corporate Governance in Pakistan. Since then, she has served as a member of various Task Force/Committees responsible for Revising the Code of Corporate Governance and introducing Guidelines for State Owned Enterprises.

As a corporate governance practitioner, she has served on various boards as an Independent Director. Sadia is also the immediate past global President of the INSEAD Alumni Association and has served as a member of many committees. In addition, she regularly contributes at international conferences and events as a speaker and panellist on issues ranging from multiculturalism to women entrepreneurs.

We recently asked Sadia for her views on several areas.

1. You have had an illustrious career, working in investment banking, financial regulation, family businesses and entrepreneurship across three continents. You have also written extensively about corporate governance, and you are a corporate governance practitioner. What led to your interest in corporate governance?

My corporate governance journey began over 25 years ago when I was working with the Asian Development Bank (ADB) in Manila.  The Asian Financial Crises of 1997 brought into focus the important role of corporate governance in averting widespread crises in confidence in financial institutions and the corporate sector. As a result, all the program lending designed by the ADB for its member countries in the aftermath of this crises had a very important component of corporate governance.

Some years later, when I returned to Pakistan to take up a senior position with the Securities & Exchange Commission of Pakistan (SECP), the apex regulator of the Corporate sector, one of the first tasks given to me was to finalize and implement the first Code of Corporate Governance for Pakistan.  This was done in 2002 and ever since then, I have been closely involved with the subsequent iterations of the code and its implementation as an educator, regulator and practitioner. I decided to document this in a book entitled “Corporate Governance Landscape of Pakistan” published by Oxford University press in 2017.

2. What lead to your interest in taking on independent director positions?

When I initially left public service in 2005, I was approached by many corporate entities in Pakistan to serve as an independent director on their board. They needed somebody familiar with corporate governance policies and practices to steer their companies towards better implementation. The reputation of independence and integrity that I carried from my previous positions enabled me to play a meaningful role and I was progressively approached by more and more corporates over time. For me, it was a great opportunity to get insights into diverse sectors of our economy as well as help implement corporate governance policies that I had helped design in the first place.

I was probably amongst the first Pakistani females to serve as an independent director of large listed companies, even before the provision of diversity was formally introduced in the country in 2017. Incidentally the last chapter of my book on corporate governance dealt with gender diversity on boards, and is seen by many as a precursor to the regulatory provisions introduced later the same year.

3. In your view, what are some of the key factors which leads to a company or organization exhibiting “good governance”?

In my opinion the “tone from the top” matters a lot and if the board itself and senior management attempts to implement sound corporate governance practices in letter and spirit, that itself helps to inculcate the necessary corporate culture towards compliance with best practices. Unfortunately, most adherence to regulatory provisions vis a vis corporate governance becomes a mere box ticking exercise for the compliance departments of the corporates.

Corporate governance centers around the board, and the board is as good as the people serving on it. Director selection is therefore of the utmost importance to ensure that they have the right level of knowledge, experience, integrity, and independence to make decisions in the interest of all stakeholders.

4. What are some of the areas which companies and their directors should focus on in the coming few years?

Apart from being knowledgeable about governance practices, Directors need to continuously educate themselves about emerging trends effecting the corporate sector and indeed the world around them. As such Sustainability or ESG issues need to feature prominently in all board discussions, whether in terms of the corporates own environmental footprint or in terms of its larger role as a member of the community in which it operates. Formalized policies and action plans for Diversity and Inclusion are needed if the companies are to attract and retain the best talent and achieve operational efficiency. Finally, Technology, the threats and opportunities emanating out of its pervasive and expanding use has to remain in focus in all board deliberations.

5. What is your advice to aspiring directors? What should they do to get themselves board-ready?

Most progressive jurisdictions have already recognized the need for diversity in board decision making to achieve optimum outcomes. Board directorships are therefore potentially available for a much broader spectrum of diverse skill sets than in the past. At the same time, much greater responsibilities have been placed on the board directors to play their role in the implementation of sound corporate governance practices as well as comply with the legal and regulatory frameworks within which the institutions operate. As such, those desirous of playing a role in the highest forum of decision making within these institutions need to prepare themselves by demonstrating the appropriate level of knowledge and skills as well as relevant experience to facilitate their induction. They have to take the initiative of obtaining the appropriate director training, build up their portfolios and make it part of their career aspirations, while utilizing the appropriate networking forums at their disposal. Once in a position to become change agents on any board, they have to make sure that decision making is in the hands of a diverse group of innovative minds that not only improves shareholder value, but makes this world a better place.

As told to Karen Loon, IDN Board Member

INSEAD IDN Q3 2021 Board Position Announcements

51 board appointments for INSEAD Directors Network members

25 October 2021

Members Board & Corporate Governance Positions Announcement – June to August 2021 (Q3)

INSEAD’s International Directors Network, IDN is proudly sharing the recent appointments for the quarter ended 31 August 2021 of board and corporate governance positions of our members, truly recognising our members and the strength of our IDN network.

IDN members have been appointed to 51 new board positions in 22 countries, summing up to 497 position announcements since 2017.

Warmest congratulations to Lale Saral Develioglu and Doris Albisser for receiving this year’s INSEAD IDN Outstanding Mandate Awards!  Lale received the For-Profit outstanding mandate for her appointment to the board of Anadolu Efes in December, 2020.  Doris received the Non-Profit outstanding mandate for her appointment as a member of the International Senate of SOS Children’s Villages in June 2020.

Who will be on the list for next year??  Please keep us appraised of your board appointments for our quarterly announcements to be in the running!  And also to share the successes of our IDN network.

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

You will find the IDN members with new board positions below.  Why don’t you help share our network’s achievements via Linkedin, as well as also position 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 connecting with them!

To date, IDP has been completed by 1,556 IDP and IDPB participants, with 1,221 certified IDP-C/ IDBP-C directors, and our International Board Network IDN of INSEAD Alumni of over 1,500 members.

IDN works closely with INSEAD Corporate Governance Centre, which undertakes cutting-edge research and teaching tailored to the needs of boards and international directors.  The Centre 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

Celine Abecassis-Moedas – May 2021 – Non-executive Director at Lectra (HQ France, Listed) and July 2021 – Non-executive Director at Greenvolt (Listed, HQ Portugal)
Noelle Ahlberg Kleiterp – June 2021- Board Member and Chair of Remuneration and Ethics Committees at Healthnet TPO (NGO, HQ The Netherlands)
Livia Aliberti Amidani – May 2021 – Non-executive Director at Cassa Depositi e Prestiti (Private, HQ Italy) and Non-executive Director at Messaggerie Italiane (Private, HQ Italy)
Manuel Baldauff – June 2021 – Non-executive Director at Banque Raiffeisen (Private, HQ Luxembourg)
Trent Bartlett –  July 2021 – Chairman at Rocky Bay (Not for Profit, HQ Australia)
William Blomme – August 2021 – Non-executive board member at Welvaartfonds (Private, HQ Belgium) and July 2021 – Board member at Cornelis-Adriaenssens (Private, HQ Belgium)
Roberta Casali – July 2021 – Non Executive Director, Chair of Remuneration Committee, Member of Related-parties Committee at MOBY SpA (Private, HQ Italy)
Katia Ciesielska – August 2021– Independent Director  at Société d’Investissement Hôteliers Français SA (Private, HQ France) and Independent Director at Société de Management et Financement Hôtelier Français SAS (Private, HQ France)
Timothy Cosulich – July 2021 – Chairman at YPO Singapore (NGO, HQ Singapore)
Marie-Pierre Dhers – July 2021- Non-Executive Board Director at TwingTec AG (private, HQ Zurich, Switzerland)
Diego Diaz – June 2021 – President of the Supervisory Board, at Institut de Formation Ferroviaire (IFF), (Private, HQ Rabat, Morocco) and board member at SIANA (High speed train maintenance) (Private, HQ Tangiers Morocco)
Giulia Fitzpatrick – July 2021- Board Chair of Quintet Private Bank (Private, HQ Switzerland) AG
Ioannis Georgoulas – July 2021 – Non-executive Director at TFI Markets Ltd (Private, HQ Cyprus) and Chairman at ACEMPI (Association of Cyprus Electronic Money & Payments Institutions) (NGO, HQ Cyprus)
Jean-Marie Greindl – August 2021 – Non-executive Director at Opaline SA (Private, HQ Switzerland)
Fernand Grulms – April 2021 – Independent Director at Mizuho Trust and Banking (Private, HQ Luxembourg) S.A.
Jean-Christophe Kugler – October 2020 – Advisory Board Member at Ascendance Flight Technologies (Private, HQ Toulouse, France)
Colin Low – July 2021 – Independent Non- Executive Director & Chairman Remuneration Committee, Jason Marine Electronics Group (Listed, HQ Singapore)
Ana Maria Mihaescu – August 2021 – Non-executive Director at NEPI Rockcastle Plc (Listed, HQ Isle of Man)
Viviane Monges – July 2021 – Chair of the Supervisory Board of EUROAPI (Private, HQ Paris France)
Yves Poullet – June 2021 –  Independent Non-Executive Director at Helora Hospitals Network (Private, HQ Belgium)
Hagen Graf v. Schweinitz – July 2021 – Member of the Board of Directors at the Armenian Institute of Directors (NGO, HQ Armenia)
Thomas Seale – July 2021 – Chairman at Oddo-BHF Belgique (Private, Belgium) and Member of Board at Lumyna Marshall Wace SICAV (Private, Luxembourg)

IDN Members – Board Directors

Richard Alabaster – August 2021 – Non-Executive Board Director at eQuip-T, Inc. (Private, HQ USA)
Andrey Bogdanov – August 2021 – Co-chair at World Economic Forum New Champions South Africa Chapter Board (HQ South Africa)
Ian Brown –  June 2021 – Independent Non-executive Director at Biolidics Limited (Listed, Singapore)
Cedric Brusselmans – July 2021 – Non-Executive Director at Natagora (HQ Belgium)
Pavel Erochkine – July 2021 – Board Member and Chair for Strategic Alliances at Entrepreneurs Organisation, Portugal Chapter (Private, HQ Portugal) and Vice-Chairman at St. Julian’s School Parents’ Association (Private, HQ Portugal)
Raphael Felenbok – August 2021 – Board member at Space4Good B.V. (Private, HQ The Netherlands)
Carlos Fonseca – June 2020 – Lasell University Board of Directors member and Board of Trustees 2021 (Private, HQ USA)
Marta Gomez-Llorente – June 2021 – Board Director, Strategic Advisory Board Private at MYCP (Martin del Yerro Cirujanos Plásticos), (Private, HQ Spain)
Rob Goudswaard – August 2021 – Chair, Advisory Board at  Revolut Payments Australia (Private, HQ Australia)
Nils Granath – June 2021 – Board Director at Sulzer & Schmid Laboratories AG (Private, HQ Switzerland) and Board Director at Perspective Robotics (“Fotokite”) AG (Private,  HQ Switzerland)
Lisa Marie Kar Yee Djeng –  July 2021- Council Member at HKSAR Government Lord Wilson United World Colleges Scholarship Fund Council (Government, HQ Hong Kong), August 2020 – Appeal Board Member of the Appeal Board of Hong Kong Travel Industry Council – (NGO, Hong Kong)
Maria Charash Koundina – June-2021, Non-Executive Director and Chair of Audit Committee at Arrow Exploration (Listed, HQ Canada)
Martin McCourt – July 2021 – Board member and member of the Compensation Committee  at ComAp a.s (Private, HQ Prague, Czech Republic) and Chairman of the Compensation Committee at IDnow gmbH (Private, HQ Germany)
Valentin Mihov – June 2021 – Chairman of the Supervisory Board at Bulgarian Development Bank (Private, HQ Bulgaria)
Lucien Ong – June 2021 – President of INSEAD NAA Philippines (Private, HQ Philippines)
Carsten Pingel – June 2021 – Board member at Certainly (Private, HQ Denmark)
Tamara Singh – July 2021 – Board member and Treasurer at People Centered Internet (Charity, HQ USA)
Drew Watson – April 2021 – Board member at Holt-Smithson Foundation (HQ USA)

Previous announcements and more information

Previous board position announcements by shared by IDN;
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,


Helen Wiseman, 
IDP-C, IDN & NAA Australia Board Member,
NED at multiple companies
www.linkedin.com/in/helenwiseman
[email protected]

For more information about:

How to become a partner of IDN, contact our President, Helen Pitcher here
INSEAD Directors’ Network, click here.
INSEAD Corporate Governance Centre here.

Follow INSEAD IDN on social media;
INSEAD IDN on LinkedIn
INSEAD IDN on Twitter

INSEAD IDN Q2 2021 Board Position Announcements

47 board appointments for INSEAD Directors Network members

6 July 2021

Members Board & Corporate Governance Positions Announcement Q2 2021

INSEAD’s International Directors Network, IDN is proudly sharing the recent appointments for the quarter ended 31 May 2021 of board and corporate governance positions of our members, truly recognising our members and the strength of our IDN network.

IDN members have been appointed to 47 new board positions in 20 countries, summing up to 445 position announcements since 2017.

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

You will find the IDN members with new board positions below.  Why don’t you help share our network’s achievement via Linkedin, as well as also position 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 connecting with them!

To date, IDP has been completed by 1,378 IDP and IDPB participants, with 1064 certified IDP-C/ IDBP-C directors, and our International Board Network IDN of INSEAD Alumni of 1,526 members.

IDN works closely with INSEAD Corporate Governance Centre, which undertakes cutting-edge research and teaching tailored to the needs of boards and international directors.  The Centre 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

Vitor Augusto Brinquete Bento – May 2021 – Chairman & CEO of Portuguese Banking Association (Private, HQ Portugal)
Dan Bihi-Zenou – January 2020 – Chairman of Capital Real Estate SA & Chairman of Arcenter SA (Private, HQ Switzerland)
Gianfranco Bisagni – January 2020 – Chairman of the supervisory board at Unicredit Bank Austria AG (Listed, HQ Austria), October 2020 – Deputy Chairman of Supervisory board at Unicredit Bank Hungary ZRT. (Private, HQ Hungary), April 2020 – Deputy Chairman of Supervisory board at AO Unicredit Bank (Not Listed, HQ Russia), October 2020 – Member of Supervisory Board at Zagrebacka Banka D.D. (Listed, HQ Croatia)
Stefan Buser – April 2021 – Board member at Sedimentum AG (Private, HQ Switzerland)
Roberta Casali – April 2021 – Non-Executive Board Director and Chair of the Internal Control Committee at ARCA Fondi Sgr (Private, HQ Italy)
Katia Ciesielska – May 2021 – Non-executive Director at Pears Global Real Estate (Private, HQ Luxembourg)
Timothy Cosulich – April 2021 – Vice Chairman and Board Member of International Bunker Industry Association (Private, HQ UK)
Pierre Dejoux – April 2021 – Non-Executive Board Director at Bowman Power group (Private, HQ UK ), January 2019 – VP and Board member of Special Olympics France (NGO, HQ France)
Liselotte Engstam – March 2021 – Chair at Boards Impact Forum, Climate Governance Initiative Nordic in collaboration with World Economic Forum (Foundation, HQ Sweden)
Daniel Frutig – April 2021 – Chairman at Cicor Technologies Ltd (Listed, HQ Switzerland) & March 2021 – Board member at AGRO AG (Private , Switzerland)
Jean-Marie Greindl – April 2021 – Chairman of the Board at XLG (Private, HQ Belgium)
Dr. Heinrich Hugenschmidt – April 2021 – Non Executive Board Member of Fankhauser Media Ltd (Private, HQ Switzerland)
Caroline Jellinck – May 2021 – Chair’s Advisory Board Member  at Science World BC (NFP, HQ Vancouver Canada)
Nooraya Khan – March 2021 – Non Executive Director MTN South Africa (Private, HQ South Africa)
Noelle Ahlberg Kleiterp – May 2021- Member Board of Trustees & Member of Governance Committee at Zurich International School (non-profit, Switzerland)
Reinhard Krickl – May 2021 – Chairperson and Non Executive Director at Axem Neurotechnology (Private, HQ Canada)
Richard LePere – March 2021 – Independent Non Executive Board Director at Fullerton Lux Funds (FLF) SICAV (Private, HQ Luxembourg)
Colin Low – March 2021 – Independent Board Director at  Kacific Satellites Group Limited (Private, HQ Singapore)
Bert Meerstadt – May 2021 – Managing Director at Hendrick de Keyser (NGO, HQ Amsterdam, Netherlands)
Elena Pistone – May 2021 – Independent Board Director of REVO SPAC (Listed, HQ Italy)
Pamela Ravasio – May 2021 – Independent Non-Executive Director at Polygiene AB (Listed, HQ Sweden)
Michel Rzonzef – March 2021 – Chairman of the Board at SGI,  Non-Executive Board Member at LBAN (Luxembourg Business Angel Network), & Non Executive Board Member at BML(Business Mentoring Luxembourg)
Thomas Seale – May 2021 – Member of Board of Directors at Columbia Threadneedle SICAV (Private, HQ Luxembourg)
Mark Shmulevich – October 2020 – Chairman, Digital Transformation chapter, and Board Member at SGTech (Trade federation, HQ Singapore)
Nicoline Spruijt – April 2021 – Advisory Board member at ACA-IT Solutions (Private, HQ Belgium), Non-Executive Board Member at Valisana (Hospital Government, HQ Belgium) & May 2021 – Non-Executive Board Member at Armen Tekort (NGO, HQ Belgium)
Sheila Struyck – April 2021 – Non-Executive Director/ RvC at Meatless (Private, HQ Netherlands)
David Surdeau – April 2021- Non-Executive Director at Red Dragon Pubs Ltd (Private, HQ Wales UK)
Kees van der Vleuten – January 2021 – Non-executive Chair, Fenix Investment Group, (Private, HQ Brussels/Amsterdam)
Dominique Vanhamme – April 2021 – Non-executive Director at Odyssey (Private, HQ France)

IDN Members – Board Directors

Wanching Ang – March 2021 – Non-executive Board member at HQ Holding GmbH & Co KG (Private, Germany)
Jan De Moor – May 2021 – Independent Board Member at VlaanderenConnect (Government Agency, HQ Belgium)
Morgan Fowles – May 2020  – Director at Tala Ltd (Private, HQ UK)
Andrew Kristensen – April 2021 – Non-Executive Board Member at Svensk Byggtjänst (Private, HQ Sweden)
Margot Schumacher – January 2021 – Non-Executive Board Member at Thales Netherlands (Listed, HQ France)
Jan-Paul van Term – March 2021 – CEO at Hill+Knowlton Strategies (Private, HQ Netherlands)
Liz Wall – May 2021 – Non-Executive Chair at Royal Road Minerals (Listed, HQ Jersey)

Previous announcements and more information

Previous board position announcements by shared by IDN;
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,

Helen Wiseman, 
IDP-C, IDN & NAA Australia Board Member,
NED at multiple companies
www.linkedin.com/in/helenwiseman
[email protected]

For more information about :

How to become a partner of IDN, contact our President, Helen Pitcher here
INSEAD Directors’ Network, click here.
INSEAD Corporate Governance Centre here.

Governance of Social Impact Ventures

Corporate governance of Social Impact Ventures can be challenging but yet rewarding for directors.

By Karen Loon IDP-C and IDN Board Member

Social impact ventures (SIVs) are increasing in popularity. However, what does this mean, and what are the challenges and the benefits – for society, companies and yourself? What is the trade-off between producing financial returns and creating social or other sustainability impacts? How can the risk of “impact washing” be avoided? How do you evaluate and engage with it as an investor? And finally, how do you engage with it as board director?

On 11 May 2021, INSEAD Directors Network (IDN) members interested in SIVs had an opportunity to learn more about engaging with SIVs as board directors.

The session framing remarks were provided by Professor Jasjit Singh, The Paul Dubrule Chaired Professor of Sustainable Development, INSEAD, with panellists who have completed the INSEAD International Director Programme (IDP), Roberta Casali, Luigi Passamonti, Rodrigo Sepulveda Schultz and Jerome Wittamer sharing their perspectives as directors and investors in SIVs.

Liselotte Engstam IDP-C facilitated the session with support from Hagen Schweinitz IDP-C, both IDN board members.

Governance of social impact ventures

The corporate governance of SIVs varies significantly, as the ownership structure of the ventures influences it.  While SIVs are purpose-driven, this focus can sometimes be diluted when they are acquired by a larger company, which is a common exit route for SIVs.

Highlighting some examples such as Ben and Jerrys and Body Shop, Professor Singh said that where an SIV is private, controlled by one or two investors, and is entrepreneurial, it tends to be closely aligned to the entrepreneur. However, “once you’re a part of a larger company or once you go public or things like that, it’s usually much harder”, noted Professor Singh.

Over the past decade, many companies have made a broad move towards having a sense of purpose and a stakeholder view, in line with the increasing focus on ESG.

“Even CEOs now feel much bolder than they did 10 years ago about how they communicated with shareholders who would very aggressively by asking them only to think of profits and nothing else as a metric.” – Professor Singh.

However, he highlighted that whilst private companies can do certain things, there can be limits on how much can be done if the SIV were to go public or sold to a large company.

A governance challenge for many SIVs is making a “trade-off” between purpose and value proposition.  A growing area that aims to enhance the governance of SIVs is that of independent assessments and certification. However, there is still work to be done by many companies in this area, which is not easy, given the varied stakeholder interests.

Finally, Professor Singh reminded participants that many different vehicles could be used for positive impact.  He suggested that “we need to go outside just thinking, purely of price as a signal of value to these alternative means of sustainable business.”  An important area is to ensure that people are looking into is ensuring that there is “ecosystem building and public policy” that enables corporate governance and sustains purpose.

Thoughts and advice from IDP participants

The panellists shared their personal experiences as directors of and investors in SIVs.  Views included:

Role of the board and directors of SIVs

1. Impact drives the strategy

Boards need to understand what the impact of the SIV is, which is challenging as the definition of ‘social’ is very broad. Boards and their directors should all agree on how to define it, making it explicit in the strategy, and measuring and communicating results – which is not easy as there is no one right answer.  Questions which they could ask themselves include:

  • What does it mean to make a real contribution to society?
  • How can we really make a difference?
  • What is the company’s purpose?
  • Who are we serving?
  • Are we really having an impact?

Boards and management need to ensure alignment of the organisation’s impact mission with profit-making/financial sustainability purpose.  The strategy should ensure that there are no concessions on either count.

2. Have a mindset for impact

Board directors should have a mindset for impact. They need to be aware of their role and the value of their responsibilities.  To be fully effective, their personal values should be fully aligned with the organisation’s mission.

They also should ask management challenging questions about how the strategy works, have we considered the interests of relevant stakeholders (including but not limited to shareholders, investors, clients, employees), and potential conflicts, which often will be a rigorous and intense process from the beginning. In addition, they must remain independent, competent and aware.

Finally, directors should also beware of oversimplifying – and over-focusing on the numbers.

3. Purpose needs to permeate through the organisation.

Boards should ensure that the SIV’s corporate culture and leadership are aligned.

4. Have humility and a willingness to learn

SIV board members should have humility and a desire to learn and participate inside the board with a large EQ engagement. They should ensure that they continually expand their horizons as a board member and go beyond their comfort zone to challenge themselves and management.  One way for board members to learn about SIVs is to mentor them on various business skills.

Current challenges for SIVs

  • Markets value certainty, clarity and simplicity. There is some way for impact investing to go in this area to define the different concepts more clearly.
  • Measuring impact – This is extremely important but hard to define. There is no ‘silver bullet’ answer – it depends on what you what to measure.  It is best when it is very specific – the outcome of what you do is what matters.
  • Ensuring that SIVs are properly funded.

Several participants expressed interest in a continued an IDN dialogue on SIV governance. A promise to organise more work in this space was noted in the webinar chat. Should you be interested in connecting with a community of other IDN members interested in SIVs, please reach out to Hagen Schweinitz at [email protected], or directly to any of the four IDN panel members.

 

INSEAD Directors Network (“IDN”) – An INSEAD Global Club of International Board Directors

Our Mission is to foster excellent Corporate Governance through networking, communication and self-improvement. IDN has 1,500 members from 80 countries, all Alumni from different INSEAD graduations as MBA, EMBA, GEMBA, and IDP-C. We meet in live IDN webinars and meet-ups arranged by our IDN Ambassadors based in 25 countries. Our IDN website holds valuable corporate governance knowledge in our IDN blog, and we share insights with our LinkedIn and Twitter followers. We highlight our member through quarterly sharing of their new board appointments, and once a year, we give out IDN Awards to prominent board accomplishments. We provide a peer-to-peer mentoring and board vacancy service, and we come together two times per year at the INSEAD Directors Forum arranged by ICGC. We also engage with ICGC on joint research.

 

INSEAD Corporate Governance Centre (“ICGC”)

Established in 2010, the INSEAD Corporate Governance Centre (ICGC) has been actively engaged in making a distinctive contribution to the knowledge and practice of corporate governance. The ICGC harnesses faculty expertise across multiple disciplines to teach and research on the challenges of boards of directors in an international context and to foster a global dialogue on governance issues with the ultimate goal to develop boards for high-performance governance. Visit ICGC website: https://www.insead.edu/centres/corporate-governance

 

Interview with Gbenga Oyebode, IDP6 2014, Trustee Ford Foundation

To be effective, new directors will require deep curiosity and an aptitude for analyzing a variety of information” – Gbenga Oyebode

In October 2020, INSEAD Directors Network (“IDN”) announced the four winners of the Inaugural IDN Awards 2020 for prestigious board positions.

The winners, which were selected from the 230 mandates, shared via the quarterly IDN Board Position Announcements, were selected based on the size and importance of the organisations they represented, their global relationships and the position at the board, in combination with pursuit of INSEAD’s mission ‘Force for Good’.

Four winners were selected, all of whom have an outstanding track record and have demonstrated the highest levels of integrity.

Gbenga Oyebode was one of the winners of the not-for-profit category.  We recently had the opportunity to ask Gbenga about his illustrious board career and his advice for aspiring directors.

Could you share with us how you obtained your first board role?  How have you built your board portfolio, both in your home country and overseas?  How have you decided on the types of organisations, industries and geographies where you would like to take up board roles?

My first board role presented itself in course of my legal practice. I served as legal adviser to a company in ownership transition and was eventually invited to join the board of the newly privatised company. I have never set out to build a particular type of board portfolio; instead the boards I have been involved with reflect my career as a lawyer, proclivity for investing, and are usually relevant to my passions and the change which I wish to see in the world (e.g. social justice, art, music).

I want to believe that organisations that invite me to serve on their boards recognise that I bring not only leadership and sound business judgment after 40 years of building my legal practice, but also investment expertise, a unique perspective and a global view given the multidimensional nature of my interests and relationships. In determining whether to accept a board role I lookout for alignment with the values of the organisation in terms of ethics, corporate governance and social responsibility and also consider my capacity to make the required commitment.

I have been lucky to include in my board portfolio a variety of companies including Access Bank Plc (one of the largest banks in Sub Saharan Africa), MTN Nigeria (the largest telecoms company in Africa), Nestle Nigeria PLC and many other global organisations.

Your board portfolio includes a number of not-for-profit boards.  What have been some of the focus areas which your not-for-profit boards have been focusing on in the past year?

The not-for-profit boards where I serve reflect the causes I am passionate about, such as social justice, education, philanthropy, music and the arts. For example, Ford Foundation aims to reduce poverty and injustice, strengthen democratic values, promote international cooperation and advance human achievement.   Teach for Nigeria, (were as I serve as Chairman) in partnership with Teach for All, is dedicated to ending educational inequity in Nigeria by building a movement of outstanding teachers and young professionals who are committed to expanding educational opportunity for all children in Nigeria. African Philanthropy Forum creates a platform for emerging African philanthropists to channel giving to strategic causes in Africa. Carnegie Hall, Smithsonian Museum of African Art, Jazz at Lincoln Center reflect my passion for the arts and music.

In the last year, most not for profit boards, like other profit making organisations have been focused on navigating the impact of COVID 19 on their sustainability and ability to execute their objectives. The disproportionate impact of the pandemic on the poor, vulnerable and marginalised has brought into sharper prominence the mission and objectives of many not for profit organisations, which seek to reduce poverty, provide equal opportunity and support vulnerable groups.

As a board chair, when selecting candidates for board positions, what are the skillsets and qualities of potential board members that you look out for?

As a board chair, when selecting candidates for board positions, I look out for the leadership experience, integrity, commitment, global view, business judgment, collegiality, and discretion. I believe that these are critical attributes required to succeed on any board.  In today’s world, gender and geographical diversity are also sine qua non for effective boards.

What is your advice to new directors on how they can best stay up to speed on governance and business trends?

The world is constantly changing and the effects of the Covid-19 pandemic will be with us for a long a time. To be effective, new directors should never stop learning, embrace change and leverage the power of technology. Staying up to speed with constantly evolving trends in this ‘new normal’ requires deep curiosity and an aptitude for analysing a variety of information. This new era of virtual meetings, work from home, greater work-life integration and efficiency are here to stay and will be reflected in our board practices as we adopt more environmental, sustainable and transparent governance models going forward.

 

By Karen Loon, IDN Board Member and Non-Executive Director.

 

INSEAD Directors Network (“IDN”) – An INSEAD Global Club of International Board Directors

Our Mission is to foster excellent Corporate Governance through networking, communication and self-improvement. IDN has 1,500 members from 80 countries, all Alumni from different INSEAD graduations as MBA, EMBA, GEMBA, and IDP-C. We meet in live IDN webinars and meet-ups arranged by our IDN Ambassadors based in 25 countries. Our IDN website holds valuable corporate governance knowledge in our IDN blog, and we share insights also to our LinkedIn and Twitter  followers. We highlight our member through quarterly sharing of their new board appointments and once a year we give out IDN Awards to prominent board accomplishments. We provide a peer-to-per mentoring and board vacancy service and we come together two times per year at the INSEAD Directors Forum arranged by ICGC. We also engage with ICGC on joint research.

 

INSEAD Corporate Governance Centre (“ICGC”)

Established in 2010, the INSEAD Corporate Governance Centre (ICGC) has been actively engaged in making a distinctive contribution to the knowledge and practice of corporate governance. The ICGC harnesses faculty expertise across multiple disciplines to teach and research on the challenges of boards of directors in an international context and to foster a global dialogue on governance issues with the ultimate goal to develop boards for high-performance governance. Visit ICGC website: https://www.insead.edu/centres/corporate-governance

Modern Chair Practices: What makes an effective board chair?

By Karen Loon, IDP-C and IDN Board Member

Board chairs will continue to play an important role in engaging, enabling, and encouraging their boards and companies.

Effective chairs play a critical role during times of change and uncertainty. 

Whilst the recent pandemic has impacted how boards operate, it has had a significant impact on the role of board chairs, how chairs work, and what makes them effective, according to Stanislav Shekshnia, Senior Affiliate Professor of Entrepreneurship and Family Enterprise at INSEAD and Director of Leading from the Chair Programme and Helen Pitcher OBE, INSEAD Directors Network (‘IDN”) President who recently shared their perspectives on emerging trends in board chairs’ practices in an exclusive webinar for IDN members.

Attendees had the opportunity to get a preview of the key findings from ongoing research on chairs’ practices in Europe across 15 countries, 200 chairs and 300 shareholders, directors and CEOs including during the pandemic.

The research, with some contributions from the IDN[i], will be released by Professor Shekshnia in the upcoming second edition of his book, Leading a Board: Chair Practices Across Europe.  The webinar was facilitated by Liselotte Engstam IDP-C, with support from Hagen Schweinitz IDP-C, both IDN board members.

Over the past few years, the environment in which boards operate in has changed and became more challenging.  Companies are now subject to more public scrutiny, need to be more transparent, accountable and do more reporting.  Boards have been busier than ever, particularly since the start of the pandemic.  

Effective chairs lead their boards through Engaging, Enabling and Encouraging

Professor Shekshnia’s research concluded that effective chairs have continued to lead their boards by providing the 3Es of chair leadership – Engaging, Enabling, and Encouraging their boards, consistent with his prior research.

The role of chairs however has changed during the pandemic.  “What we found (was) that during the pandemic, chairs became more emotionally involved with their boards, (and) they spent more time doing their jobs”, said Professor Shekshnia.

Additionally, leading chairs are innovative in the way they lead their boards.

Finally, board work has become more relevant during the crisis, with only 1.2% of survey participants saying their board is irrelevant.

Leading practices of chairs which have emerged in the past year include:

Engaging

  • Chairs have become more caring – spending more time with each director; having more frequent contact; paying attention to mental and physical health; and having more personalised engagement.
  • Boards are engaging more over long-distance using technology such as Zoom, phone calls, Group chats and polls. Most hope to use face-to-face interactions when possible.

Enabling

  • Changing agenda items – new agenda items include COVID-19; employee, customers’ and suppliers’ health and safety; CEO health and fitness; and boards’ and individual directors’ resilience. Boards are also paying more attention to sustainability, succession planning, employee well-being, and social corporate responsibility.
  • Agenda setting – Leading chairs involve their directors more in setting agendas, using technology to set them. They also adjust agendas more frequently during meetings.
  • New formatsBoards are inviting experts to meetings, creating advisory boards and mixed board-management groups, and bringing in non-voting members to assist boards where there are skill gaps.
  • Innovation in managing board discussions online – Boards are experimenting with different online formats such as “camera on, mike off” mode, groups in Zoom, polling directors during the meeting, undertaking express evaluations at the end of each board meeting, and even turning off directors’ mikes!

Encouraging

  • Greater care and empathy – Leading chairs are supporting their boards, management and organisations with greater care and empathy, with less feedback and more support. They champion board education by acting as a “Chief Learning Officer” with their boards, and immerse themselves into new subjects like COVID.  Popular ideas used in lieu of in-person events include tea parties and drinks before and after virtual board meetings.

Virtual meetings have become a proven instrument for most chairs in Europe and will continue to be used going forward.

In the future, boards are likely to use a mix of virtual and face to face meetings, with big debates such as strategy being saved for face-to-face sessions, more operational questions for virtual meetings, and other more routine information sharing undertaken outside of the board room.  Helen Pitcher further added that more virtual meetings have had a positive impact on the environment, because of reduced travel.

An evolving idea is the changing attitude towards risk management.  Boards now have greater recognition that they need to move from classifying risks to organisational adaptability and resilience.

“Most of the board’s looked at risk in a sort of set standard way.  We identified the most important risks. We tried to come up with (a) strategy to deal with every specific risk. And we monitored the risks ranking them in accordance with their probability … Now most of the boards have (an) understanding that in addition to this, we also need to see how resilient our organisation is; how flexible we are.” – Professor Stanislav Shekshnia.

Boards are likely to focus more on the health and safety of employees, customers, suppliers, board members and the CEO in the future.  Empathy and mentoring are expected to be used more as performance measurement tools, as metrics have become less relevant.

What makes an effective chair?

Being a chair requires the chair to “balance” different attributes.  It is not about having one attribute or another, but about being ambivalent (or plus and minus) at the same time.  The opposite pairs are:

  • Authority and humility
  • Commitment and detachment
  • Incisiveness and patience
  • Helicopter view and company knowledge
  • Hard and soft skills

Professor Shekshnia concluded that the impact of the board chair on board effectiveness has always been significant, however in 2020 became critical because of the high change and uncertainty that we lived through last year.  The board chair’s role and impact will continue to be critical in 2021.

The changing role of the chair – Experiences of chairing boards during the pandemic

Helen Pitcher OBE shared her personal experiences from chairing boards across a range of organisations during the pandemic, noting that the pandemic has had a significant impact on how boards work.

“This is a once in a generational opportunity to change ways of working.  We’ll never again be able to say the way we used to do it, or we tried that, and it didn’t work because we are having to rethink everything that we do, and how we do it”, said Helen.

“Good chairs were already doing a lot of the things that needed to happen and were able to gear up quickly to support their boards and their organisations through the crisis.” – Helen Pitcher OBE. 

Some of the areas that chairs have been focusing on are:

Impacts on the transformational agenda during the pandemic

Shifting goals and outcomes

Health and safety, mental health and well-being, and what our goals and outcomes should be have become more important for boards and their chairs.

For some boards, the pandemic has been an opportunity for them to look at how to build their businesses and move them forward.  However, other organisations have been in crisis; their boards are meeting far more frequently, which demands a lot of the chair’s time.

“All chairs are having to work far, far more in their boards and on their boards, and to keep the communication flow going”, Helen remarked.

On developing relationships, “it’s become even more important for chairs to hold pre-board sessions, post-board sessions with all the board, and indeed with other key stakeholders to see how things are going”.

Finding opportunities for informal interactions, such as “board gin and tonic” events with no business agenda to find out how people are have been helpful.

Communication and messaging

“Being able to continue to communicate, particularly at a time of pandemic and fatigue is really, really important” – Helen Pitcher OBE. 

Chairs and board members should be prepared to have sessions with people across their organisations.  “You can never overcommunicate… having clarity of message and making sure we’re keeping people up to date is absolutely, absolutely crucial” Helen stressed, adding that chairs and board members need to listen even harder in these times.

Transformational change with assurance

Many employees are anxious about the future, for example the impact that new technology will have on them, or about moving offices and what the impact would look like.

“It’s even more critical that the board is supporting the executives to have the right conversations within their organisations, and to have deep conversations, both formal and informal.” – Helen Pitcher OBE.

She recommended that chairs and board members take “time to listen to people to talk about their concerns…. so that as much of the uncertainty as you could possibly take away is taken away”.

The immediate role of the chair in the crisis

  • Supporting executives – Board chairs have a key role to encourage their organisations, acting as a sounding board for executives, and to mentor and coach them, bringing their previous experience to bear.
  • Strategic horizon – Leading boards are also spending a lot of time looking at the future of their organisations, giving their people hope that there is a brighter future for them. “We need to constantly be scanning the horizon to see what we can learn from others.  The board’s learning individually and collectively is very important, because that keeps them fit for purpose for moving forward”.

The strategic role of the chair in the crisis

Boards have a responsibility to ensure that decisions made are sensible for the emergent reputation of their businesses.  How boards and chairs respond during the crisis will be remembered internally and externally going forward.  “Managing that reputation is hugely important, not only because it is morally the right thing to do, but because it’s sound business sense”.

Other strategic areas where chairs play a key role include inclusion and diversity, supporting exhausted executives, and managing executive remuneration.

In concluding, Helen highlighted the important role of chairs to maintain the transformation narrative in the crisis:

“Things are changing, but we will not go back to the old way of being. We will always now focus, even more strongly on to things like risk management, health and safety, how we reward our people – we absolutely owe it to our organisations as boards to do all of that.

We really also need to make sure we are being reflective about what have we learned from this crisis that we can really take forward. 

How can we be more flexible and more agile as a business in order to ensure that all our stakeholders benefit from this, and have the time to think, what is good … and what needs to change.” – Helen Pitcher OBE.

 

IDN’s next webinar on Governance at Family Boards will be held on 8 March 2021.

 

INSEAD Directors Network (“IDN”) – An INSEAD Global Club of International Board Directors

Our Mission is to foster excellent Corporate Governance through networking, communication and self-improvement. IDN has 1,500 members from 80 countries, all Alumni from different INSEAD graduations as MBA, EMBA, GEMBA, and IDP-C. We meet in live IDN webinars and meet-ups arranged by our IDN Ambassadors based in 25 countries. Our IDN website holds valuable corporate governance knowledge in our IDN blog, and we share insights also to our LinkedIn and Twitter  followers. We highlight our member through quarterly sharing of their new board appointments and once a year we give out IDN Awards to prominent board accomplishments. We provide a peer-to-per mentoring and board vacancy service and we come together two times per year at the INSEAD Directors Forum arranged by ICGC. We also engage with ICGC on joint research.

INSEAD Corporate Governance Centre (“ICGC”)

Established in 2010, the INSEAD Corporate Governance Centre (ICGC) has been actively engaged in making a distinctive contribution to the knowledge and practice of corporate governance. The ICGC harnesses faculty expertise across multiple disciplines to teach and research on the challenges of boards of directors in an international context and to foster a global dialogue on governance issues with the ultimate goal to develop boards for high-performance governance. Visit ICGC website: https://www.insead.edu/centres/corporate-governance

 

[i] IDN collaborates in many ways with ICGC. ICGC shares academic insights with the network, and provides opportunities for joint research. IDN shares experiences at several of ICGCs programs and events, and shares INSEAD insights with their boards and at many events. For the referenced chair practices research, led by Professor Stanislav Shekshnia, IDN President Helen Pitcher OBE has contributed with significant insights to both the topic and network, and IDN Board Member Liselotte Engstam has engaged for two years in the research performing the research on Swedish chair’s and board work, as well as contributed to the Nordic insights and co-authored the forthcoming book by writing one of the chapters.