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Pathway To The Boardroom 1st June 2023: Peter Tonagh, Adelle Howse
June 7, 2023
The path to a board career is different for each person, as illustrated by our speakers Peter and Adelle. Adelle’s pathway was not a planned process with Adelle’s initial Non-executive Board roles arising from several interim roles undertaken after her full-time executive career. In contrast, Peter took a deliberate path of initially adding a NFP Board appointment and subsequently adding Board roles at a range of industries that appealed to him.
What Advice would you give to people beginning on a pathway to a Board career?
- Be aware of your values, strengths, and industries that you are drawn to. The business must interest you and the culture should align with your values.
- An AICD qualification is not enough on its own, demonstrating that you meet a skills gap within the Board’s skills matrix is more important. Identify skills beyond the surface level, especially those in short supply in the market.
- Consider a NED role in parallel with an executive role to get exposure to a Board. Use your first Board role to learn what it takes to be a good Board member.
- Be conscious in your first Board role to remove yourself from day-to-day management, focus less on aggressive challenging of management and offer more supportive questioning.
- Understand that a Chair role will require a greater time investment, as will any Chair of Board committees.
What are key skills required by Boards in the current environment?
- Consider a range of industries and settings: get exposed to a variety of Boards as the learnings from one Board are relevant across other Boards. External factors such as workforce, cyber, supply chain and ESG impact most companies.
- The private space will have a key focus on company performance and strategy. Listed companies will have a wide range of stakeholders to focus on beyond the business performance.
- The life stage of an organisation: often companies that are growing and are open to change allow you to make the greatest impact.
- Consideration of NFP Boards: ensure you are passionate about the cause and that you are comfortable with the governance and structure in place.
What type of Due Diligence do you recommend before joining a Board?
- Due diligence is important before joining a Board to ensure you are certain and comfortable to support that Board for a period - resigning from a Board has broader implications.
- Ensure that you have respect for the Chair as they will drive the Board agenda and will be an important mentor.
- Understand the culture of the organisation, if possible, spend face to face time with the executives. Is it culture that encourages performance and diversity of thought?
- Consider the other Directors and major stakeholders as well as reviewing Financial Statements.
- Google the reputation of the organisation - do you feel comfortable with the values?
- Asking whether this is a business you would invest in is a useful yardstick given you will invest time.
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