Archive for the ‘Director Education’ Category

Stay connected with #NACDBLC

October 10th, 2013 | By

Hard to believe, but it’s time again for the annual NACD Board Leadership Conference, held in the Washington, D.C. metro area. At this event, which is the largest of its kind in the United States, there will be a record crowd—1,000+ attendees. While attendees will see much of what they’ve come to expect from the NACD Board Leadership Conference—outstanding programming, venue, and speakers—here’s what’s new at the 2013 event:

  • The release of the new Blue Ribbon Commission report and the 2013–2014 NACD Public Company Governance Survey. Every conference attendee will receive a copy of this year’s Report of the NACD Blue Ribbon Commission Report on Talent Development: A Boardroom Imperative. Also available is this year’s public company governance survey, an analysis of more than 1,000 responses from those in public company boardrooms.
  • This year’s conference will kick off with an address from NACD Chair Reatha Clark King, and close with Eileen Claussen and Jeffrey E. Sterba on “Eye of the Storm: The New Face of Global Risk.” The two-day event will feature Raj Sisodia on “conscious capitalism,” former Olympus President and CEO Michael Woodford, and Securities and Exchange Commission Chair Mary Jo White.  
  • To enhance your experience at the conference, we will have session recaps posted on the NACD Blog. Keep this link—and follow us at @NACD and #NACDBLC—handy as we’ll continually update it throughout the conference, adding articles, videos, and other data from each session.
  • Visit the new Social Media Lab at this year’s conference for a hands-on, one-on-one, or small group experience with the latest technologies, tools, and trends guided by social media-savvy experts. The Social Media Lab has something for everyone—expert-led talks on issues that affect the boardroom, opportunities to explore some of the newest sites/applications, and an expert tech team ready to help install and use the latest tools on your own device.
  • Join Deborah Sherwood for her Story Circles session regarding the secret lives of America’s first ladies; hear Linda Alvarez discuss a revolutionary new way to approach contract negotiations; or hear crisis guru Judy Smith (the inspiration for the hit ABC show “Scandal”) dissect the anatomy of crisis management and prevention.
  • And lastly, have the NACD 2013 Board Leadership Conference available at your fingertips! In an effort to provide our attendees with instant access to all event information, we have created an easy connection: our NACD 2013 smartphone app. To download, search “NACD BLC 13″ in the app store on your mobile device. 

Culture and Leadership Critical for Future Boards

July 18th, 2013 | By

The rate and complexity of change in the marketplace is greater than ever before—and not showing any signs of slowing. From innovation and disruptive technologies to regulatory activity and stakeholder scrutiny, companies are constantly presented with new risks and challenges. As NACD’s new Chair Reatha Clark King observed, writer William Gibson captured the inflection point most corporate boards find themselves approaching: the future is here, it’s just not evenly distributed. As these changes force global economic shifts, it is necessary for those in the boardroom to understand and prepare for the future structure of directorship now.

This week, NACD held the second in a series of exploratory meetings in Chicago to discuss how the boardroom can define and prepare for the challenges and opportunities expected in the next five to seven years. This meeting series—held in New York City, Chicago, and Los Angeles—will culminate in the kickoff of NACD Directorship 2020 at the 2013 NACD Board Leadership Conference. An effort to provide directors with a clear vision of what their roles will resemble in the future, NACD Directorship 2020 will extend from educational programs and roundtable exchanges to publications, all shaped by feedback from these events.

At the Langham Hotel in Chicago, more than 100 directors attended the afternoon session to discuss two topics: the future state of communications between the board and C-suite and how to select performance metrics that will generate sustainable organizational profit. Sessions were led by NACD President and CEO Ken Daly; Akamai Technologies Lead Director and Audit Committee Chairman Martin Coyne; NACD Chair King; and former Bell and Howell CEO, current NACD Director, and Northwestern University Professor Bill White. During the highly interactive sessions, each table was given a specific set of questions to discuss and provide thoughts among their peers. Takeaways from the event include:

  • Directorship is a part-time job with full time accountability. Inherent in the board/C-suite relationship is an information imbalance. However, with the right culture and board leadership, the board and senior management can easily communicate expectations and necessary information.
  • A CEO’s leadership style can serve as an indicator that the risk of information asymmetry has become too high. Directors establish a level of trust with the CEO and management to allow for board access to other members of the senior team, as well as site visits to see the company’s operations.
  • With an expanding board agenda, process and expectation setting are critical. The board should clearly communicate to management the types and format of information that need to be presented.
  • An empowered lead director or non-executive chair can help mitigate the risk of information imbalance. By facilitating communication channels and work between the independent directors and the CEO, this leadership position can break down some of the road blocks that may develop between the C-suite and directors. The relationship between the CEO and lead director or chair should be transparent.
  • Culture is critical in effective dialogue between the board and senior management. With the right culture, directors can be sure they are aware of the risks that are keeping the CEO up at night.
  • Sharing information via performance metrics, which are focused on what directors need to know, can bridge gaps in information flow. Ultimately, the board has to make winning decisions which are informed by data.
  • Today, directors balance short-term shareholder expectations with generating long-term sustainable profit. The role of the stakeholder, though, is more significant than ever before and expected to grow. In the future, directors will have to be increasingly focused on balancing shareholder return with stakeholder concerns.
  • It may be difficult for the board to address and to communicate with every stakeholder. The board should identify which stakeholders are critical to the strategic plans, and target communications to those groups.
  • Balance also extends to leading versus lagging indicators. The board should first approve the right strategy and set goals accordingly. Leading indicators will drive ensuing performance—but lagging indicators are also necessary to provide the right feedback loop.
  • Innovation is important to the success of any company. How innovation is defined, though, is largely dependent on the company, and should be rooted in the corporate strategy. For some, innovation will manifest in processes, products, or both.

The next NACD Directorship 2020 event will be held Sept. 10 in Los Angeles. Between events, NACD’s blog will feature viewpoints and research from our NACD Directorship 2020 partners—Broadridge, KPMG, Marsh & McLennan Cos., and PwC—that will take a deeper look into the emerging issues and trends that will redefine directorship.

10 Reasons to Register Today for NACD’s Board Leadership Conference

April 30th, 2013 | By

For corporate directors, time is a valuable resource. As such, I’m frequently asked why directors should carve out three days to attend NACD’s annual Board Leadership Conference, which is held every October in the nation’s capital. To me, it is obvious why those in the boardroom should attend this first-rate conference.

Here are the 10 reasons I shared with our NACD chapter leaders at a recent meeting in St. Louis, Missouri:

  1. Save $500 when registering by April 30. The NACD Board Leadership Conference is historically sold out, and this three-day conference represents the most important knowledge exchange for the world’s leading directors, C-suite executives, and governance experts.
  2. For directors by directors. Learn from leading boardroom practitioners, those who have endured many hard lessons you may not want to encounter yourself! Hear firsthand from Laban Jackson, audit committee chair of JPMorgan Chase, about the London Whale controversy and his perspective on the board’s role in risk oversight. Learn more about the shifting landscape of social media from Clara Shih, Starbucks director and CEO of Hearsay. Get the latest on how big data is impacting business with Rich Relevance CEO David Sellinger.
  3. Get more actionable takeaways than from any other conference. Address persistent challenges and gain “next practices” from your peers on the timeliest and most critical boardroom issues, including human capital management, emerging technology, compensation, and global markets.
  4. Make your voice heard. Take part in shaping thought leadership and talk to influential legislators, regulators, and stakeholders.
  5. Sharpen your committee skills. Attend a Sunday Board Committee Forum, including dedicated sessions on audit, compensation, nominating/governance, and risk. Network with peers during breaks following big-name keynote speakers, and share your opinion with peer-led panels and committee chairs who really understand your challenges.
  6. Get hands-on with social media. Visit our first ever social media learning lab, staffed by experts in the latest social media trends, who can show you the ropes and help you understand how social medial is affecting your business.
  7. Spark innovative thinking. Participate in active dialogues around Directorship 2020—NACD’s new initiative—to explore how and why the boardroom will change over the next several years and what you as a director need to know to keep pace. Gain exclusive insights gleaned from thought leaders and directors around the country in a report from our Directorship 2020 regional events.
  8. Build your network. Exchange ideas with nearly 800 directors from around the world, including those from Akamai Technologies, Ford, JetBlue, JPMorgan Chase, and Union Pacific, to name a few.
  9. Strengthen your reputation. The most sought-after directors are well informed and well connected. Your participation at this event will earn you recognition for your commitment to continuous learning. For those who have completed the Master Class, this conference confers all the elective requirements you need to become an NACD Board Leadership Fellow.
  10. Tailor your experience. There’s something for everyone. Join special breakouts for general counsels, private company directors, small-cap directors, and nonprofits organizations. With nearly 50 sessions, choose from unmatched session selection to meet your own boardroom needs and interests.

In my opinion, NACD’s Board Leadership Conference is not only a great value, but an experience every corporate director should take part in.

I look forward to seeing you this October in Washington, D.C. Register here.