Monday, 5 August 2019
Jackie Lloyd: "Governance. You're not just there to eat your lunch"
Jackie Lloyd addressed the Rotary Club of Wellington on the 5th of August 2019 on the topic: "Governance. You're not just there to eat your lunch"
Jackie has wide experience of board governance in both the corporate and not-for-profit context. She highlighted a number of changes in the field of Board Directorships. Diversity is increasing but only very slowly, even though there is evidence that an increase in Director diversity improves Board performance. Although many new directors are appointed via an interview process, this is not a good way to get high performers. Jackie advocated a Board apprenticeship system as a big improvement.
Jackie also observed that with the high rate of technological disruption, Directors need to take a different role in their Board work. Change is so rapid that Board meetings can no longer rely on meeting quarterly. Directors could expect to meet monthly and also to attend meetings of senior staff on a quarterly basis.. These changes mean that the Directors' role has become more time-consuming and involves more risk. These changes will require an increase in the payment for Board Directors.