March 2018 Board & Exec Team Effectiveness: What does an effective board look like ?
As you know having the right senior teams in place, working together effectively, can make or break an organisation…
We all know about the high profile problems which can arise….. think of RBS, Co-Operative Bank, Carillion….
Successful businesses are built in many respects upon the strength of their Boards and Executive Teams.
But how do we really know whether we have the right people on our senior teams, and whether or not the team members are working well together ? and if there are any capability gaps, do we have plans in place to develop our senior people or do we just expect them to get on with the job…. and how often do we hold up the mirror to our senior teams to let them know how they are REALLY perceived ?
Assessing Board effectiveness annually is already a requirement for FTSE 350 companies and will most likely become a requirement for those below the FTSE 350 under proposed changes to the Corporate Governance Code. With the establishment, in January, of the Corporate Governance Steering Group to develop new corporate governance guidelines for large private companies, similar requirements are likely to be introduced for them.
In addition with new targets for gender and ethnic diversity at board and senior management level and research showing wider diversity leads to greater innovation, provides better risk management , and stronger connections with customers, employees and business partners, it would be short-sighted to ignore.
OUR CASE STUDY CONTRIBUTOR
Melissa Kittermaster is CEO of Asesoria Group, a business which has established strong credibility in providing powerful insights into all of the above areas.
Following a successful executive career, Melissa has been advising boards of FTSE 100 and 250 companies on a range of governance issues for over 15 years, including stakeholder engagement, board effectiveness and diversity, policy development, and building leadership capability.
Melissa has worked with an impressive client list across many sectors; examples include, the AA, Lloyds Banking Group, the Cabinet Office and the BBC.
She spends much of her time advising on board effectiveness and diversity, as well as undertaking assessment of executive directors, to support leadership capability and talent development.
As always, our boardrooms are about the self-immersed experience not just the theory!
Full exec summary notes are downloadable here.
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