Board effectiveness and the NED

Helen Pitcher OBE, IDP-C, President of IDN and Chairwoman of Advanced Boardroom Excellence, was the keynote speaker at an event organised in November 2019 by the KPMG Cyprus Audit Committee Institute (ACI), in collaboration with INSEAD Directors Network and the Cyprus IDN Ambassador, NED, Cleopatra Kitti, IDP-C.

The event held welcoming speeches by Michael Antoniades, Chairman of KPMG in Cyprus and Petros Mavrommatis, Principal and Vice Chairman of KPMG Cyprus ACI, and a presentation by British High Commissioner Stephen Lillie CMG, pointing to the importance of balance between directors rights and shareholders rights. The event was summerised in an article in the Cyprus GOLD Magazine.

Helen Pitcher was also interviewed for an article in the paper version of the Cyprus Gold Magazine, as seen here

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During her speech Helen shared insights from her experience leading numerous board evaluations and serving on various boards at FTSE level.

Helen Pitcher pointed out that boards will only be as good as the individual knowledge each member brings to the table and the roles they play. Unfortunately, most people stop their training as soon as they get an executive role. She analysed the varied roles of a modern Non Executive Director (NED) and stressed the importance for organisations to reward NEDs based on measurable criteria

One example she shared related to one of UKs largest construction companies Carillion plc, which 2018 entered into compulsory liquidation. “I honestly believe they thought that either the banks or the Government would bail them out. There wasn’t simply not enough financial knowledge on the Board to avoid this problem.” “Add to this a fundamental lack of communication between the Board members and the Chairman and you have a company in crisis.” shared Helen Pitcher.

In a board evaluation conducted by Pitcher everybody pointed their finger at a particular member, seeing him as someone who did not add value, by virtue of his silent demeanour. When she gave this information to the Chairman, he was flabbergasted. The Board member in question happened to be his most valuable asset, who was constantly giving him vital information about how the company operated. The board needs to ensure they have a continuous and high awareness of the company’s strategic risk. As Ms. Pitcher explained, NEDs are those that provide business, strategic, functional and cultural oversight to their organisations, thus generating added value.

Ms. Pitcher outlined what skills should Board of Directors and shareholders seek when recruiting, in order to increase their Board’s capabilities and effectiveness.She pointed out that besides making the hiring pool more inclusive, recruiters should also start expanding the list of characteristics they look for in a Board member. Diversity is not limited to characteristics of race or gender but deals with diversity of thought. “In Board evaluations, we often see that people who are considered as nuisances or troublemakers are those with different set of opinions who are asking good questions that the others don’t want to answer,” says Pitcher. Her presentation concluded with an analysis on the importance of maintaining NED independence.

The future

Looking to the future, companies will be faced with an almost unrecognizable corporate landscape, says Pitcher. “If they don’t keep up with technological advancements, they will be swept away by the changing tides,” she notes, explaining how the fall of the high street market in the UK is a cautionary tale of how behemoths like Debenhams can turn into dinosaurs. “Artificial intelligence algorithms will become sophisticated enough to automate most of the decisions a Board member takes nowadays,” she says, acknowledging that, on the upside, this will give Boards the freedom to envision a long-term plan and place their worries about short-term results behind them.


Future boardrooms will hold chairs for both young people and company employees. Some final advice was shared by Pitcher “Companies need to arm themselves with people who are mature enough to understand how to pull out the best out of their Boards and effectively manage themselves to the next level.”

Summerized by Liselotte Engstam, IDP-C, NED and Chair Communincation, IDN Board

 

 

 

26 New International Board Appointments of IDN Members

IDN Members Board & Corporate Governance Positions Announcement 2Q – 2019 

Recognising INSEADs International Directors´ Network, IDN  members and the strength of the network, we are proud to share our members recent appointments of board and corporate governance positions.

IDN members has been appointed to 26 new board positions in 16 countries, summing up to 180 position announcements since 2017.

The IDN network facilitates contacts, shares insights and experiences on international board topics and promotes excellence in corporate governance. 

IDN is one of the globally leading professional networks of International Board Directors. The IDN Network holds more than thirteen hundred board qualified members, of which 677 has become certified IDP-C / IDBP-C.

Full membership is open to all INSEAD Alumni with appropriate directorship experience and is automatic for Certified Directors (IDP-C) from INSEADs International Directors Program (IDP).

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

IDN Members New Board & Corporate Governance Positions

IDN members – Certified IDP-C Board Directors 

Doris Albisser – June 2019 – Chairman at SOS Children’s Villages Switzerland (NGO, Switzerland)

Carsten Bennike – April 2019 – Non-Executive Chair at Noreco A/S (Private, HQ Denmark)

João Bento – May 2019 – CEO & Board Member at CTT Portugal Post(Listed, HQ Portugal)

Bas Boots – December 2018 – Member Supervisory Board – Brightlands Agrifood Vetntures (Private, HQ Netherlands) 

Katia Ciesielska – February 2019 – Non-Executive Board Director at CCA Life Settlements (ManCo, Luxembourg)

Magali Depras – September 2018 – Board Member, Member of Governance Committee at Les Grands Ballets Canadiens (NGO, HQ Canada) & June 2019 – Board Member at Canadian Plastic Industry Association (NGO, HQ Canada)

Irina Frolova – May 2019 – Member of Supervisory Boardat HZPC Holding B.V. (Private, HQ Netherlands)  and at ATC Europe B.V. (Private, HQ Netherlands)   

Daniel Frutig – March 2019 – Member of the Board of Directors at Zehnder Group AG(Listed, HQ Switzerland)

Alison Gaines – January 2019 – Member Asia-Pacific & the Middle East and Chair of its Nomination & Governance Committee; Member, Global Nomination & Governance Committee at AESC (Association of Executive Search and Leadership Consultants), (Professional Association, HQ USA)

Luigi Passamonti – May 2019 – Board Member and Treasurer at European Cyclists’ Federation (NGO, HQ Belgium)

Susana Gomez Smith – March 2019 – Non-Executive Board Director, Member Remuneration and Nomination Co at Leonteq (Listed, HQ Switzerland)

Irek Kulka – March 2019 – Independent Non-Executive Board Member, Chairman of Audit Committee at Enea SA (Listed, HQ Poland) 

Marcia De Wachter – May 2019 – Non-Executive Board Member, Member Audit Committee, Chair of Committee for Conflict of Interestat Lease Invest Reit of Ackermans & van Haaren Group(Listed, HQ Belgium)

Kimberly Wiehl – May 2019 – Board Director at American Arbitration Association (Professional Body, HQ USA)

Konstantinos Yazitzoglou – April 2019 – Board Member at Hellenic Management Association(Non Profit, HQ Greece)

IDN Members – Board Directors 

Dimitri Chichlo – June 2019  – Non-Executive Independant Board Director at Ukreximbank (State-owned, HQ Ukraine) 

Jack Clemons – January 2018 – Non-Executive Board member at DKSH Holding AG (Listed, HQ Switzerland) 

Marko Cosic – January 2018 – Board Member at HEP Group (Government, HQ Croatia) 

Susanne Hannestad – April 2019 – Non-Executive Board Director at Crunchfish AB (Listed, HQ Sweden) 

Roland Krueger – January 2019 – Member of the Board & Executive Director Board Member at Dyson Manufacturing Holdings (Private, HQ Singapore) 

Roy Ling – February 2019 – Lead Independent Director at Debao Development Company Ltd (Listed, HQ Singapore) 

Victor Ong – June 2019 – Board Member at CFA Society of Singapore (Non Profit, HQ Singapore)

Gang Wu – April 2019 – Independent Director at Ashurst LLP (Private, HQ UK)

Previous board position announcements by shared by IDN;

February 2019November 2018  July 2018  April 2018  January 2018   October 2017

On behalf of the INSEAD International Directors’ Network Board,

Liselotte Engstam,
IDN Board Member, Chair Communication Committee
l.engstam@insead.edu

For more information about: 
INSEAD Directors’ Network: https://blogs.insead.edu/idpn-globalclub
INSEADs Corporate Governance Programmes: https://www.insead.edu/executive-education/corporate-governance

For organisations interested in partnering with IDN, please contact IDN President, Helen Pitcher OBE, at helen.pitcher@insead.edu

For head hunters interested in finding international board members focused on staying up to date with latest board and governance insights, please contact Mary Francia via mary.francia@insead.edu

For interested parties follow our IDN blogsharing insights on current governance topics, and follow our social media accounts,  IDN at LinkedIn  and @InseadIDN at Twitter, regularly sharing relevant board content.

28 New International Board Appointments of IDN Members

IDN Members Board & Corporate Governance Positions Announcement 1Q – 2019 

INSEADs Director Network, IDNis proud to share the recent appointments of board and corporate governance positions of our members, recognizing our members and the strength of our IDN network.

IDN members has been appointed to 28 new board positions in 15 countries, summing up to 154 position announcements since 2017.

The aim of the IDN network is to facilitate contacts, share insights and experiences on international board topics and promote excellence in corporate governance. 

IDN is a network of International Board Directors, where full membership is open to all INSEAD Alumni with appropriate directorship experience and is automatic for Certified Directors(IDP-C) from INSEADs International Directors Program (IDP). The IDN Network holds more than thousand board qualified members, of which 1021 has graduated from the IDP program and 677 has become certified IDP-C / IDBP-C.

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.

IDN Members New Board & Corporate Governance Positions

IDN members – Certified IDP-C Board Directors 

Doris Albisser – January 2018 – Board Member at Psychiatric University Hospital Zurich (Public Agency, Switzerland)

Beatriz Araujo – January 2018 – Chairman of the Board of Trustee on The Hispanic Luso & Brazilian Council (Private, HQ United Kingdom)

Aime Achard – July 2018- Member of the board at ECA (Etablissement Cantonal d’Assurance) (Public, HQ Switzerland)

Carsten Bennike – December 2018- Board Director at Bygma A/S and Bygma Group A/S (Private, HQ Denmark)

Stefan Buser – January 2019 – Chairman of the Board at Tineo AG (Private, HQ Switzerland)

Advait Chaturvedi – January 2019 – Board member at Nandvan Mega Food Park (Private, HQ India)

Katia Ciesielska – December 2018 – Independent Director at COFIBOL (Private, HQ Luxembourg)

Boris Gorella – August 2018 – Advisory Board Member at Hidden Champions Institute, ESMT (Private, Germany)

Richard Grotendorst – June 2018 – Supervisory Board Member (‘Aufsichtsratmitglied’) at Amer Sports Holding GmbH (Public, HQ Austria)

Fernand Grulms – July 2018 – Supervisory Board Director at Banque Havilland S.A. (Private, HQ Luxembourg)

Kim Haasbroek – January 2019 – Supervisory Board Director at SAREF Residential Fund & SAREF Retial Fund (Private, HQ)

Cleopatra Kitti – December 2019 – Non-Executive Board Director at Eurobank Cyprus (Private Subsidury, HQ Cyprus/Greece) and Chairman of ESG Committee at Louis PLC (Public, HQ Cyprus)

Eric Magrini – December 2018 Non Executive Board Member C+F Confectionery and Foods SA (Private, HQ Netherlands/Italy)

Philippe Moschetta– January 2019 – Economic Advisor Board Member at French Arabian Business School (FABS) (Private, HQ Bahrain)

Helen Pitcher OBE – February 2019 – Non-Executive Director & Chair Remuneration Committee at C&C Group plc (Public, HQ United Kingdom)

Christiane Schloderer – December 2018 – Trustee Board Member at German International School Abu Dhabi (Not for Profit, HQ United Arab Emirates)
 
Elton Simoes – December 2018 – Vice Chair and President-Elect at The Alternative Dispute Resolution Institute, ADRIC (Professional Body, Canada)

Emiliano Tonelli – 2018 – Board Director at Gruppo Fabbri Vignola (private, HQ Italy)

George Antony Vadakkekara – August 2018 –  Board Director at Belstar Investment & Finance Limited – (Private, HQ India)

IDN Members – Board Directors 

Andrew Crane – April – October 2018 – Non-Executive Director RAC WA (Mutual, HQ Australia), Viridis Ag, Lawson Grains and SunRIce (All Private, HQ Australia) and Chancellor at Curtain University (Government, HQ Australia)

Ram Mohan – January 2019 – Board Member at Global Commission on the Stability of Cyberspace (GCSC), (Agency, HQ Netherlands)

Previous board position announcements by shared by IDN;
November 2018  July 2018  April 2018  January 2018   October 2017

On behalf of the INSEAD Directors’ Network Board,

Liselotte Engstam,
IDN Board Member, Chair Communication Committee
l.engstam@insead.edu

For more information about: 
INSEAD Directors’ Network: https://blogs.insead.edu/idpn-globalclub
INSEADs Corporate Governance Programmes: https://www.insead.edu/executive-education/corporate-governance

For members of IDN, please ensure that you share your new appointments via idp.network@insead.edu or l.engstam@insead.edu

For head hunters interested in finding international board members focused on staying up to date with latest board and governance insights, please contact Mary Francia via mary.francia@insead.edu

For organisations interested in partnering with IDN, please contact IDN President, Helen Pitcher OBE, at helen.pitcher@insead.edu