Ever wondered if your board needs a corporate health check? In episode 19 of the Rising Edge D&O Podcast, Richard and Owen discuss this very topic with Jeremy Irving, Partner and Head of Financial Services at law firm Browne Jacobson.
Jeremy is also joined by Philippe Gouraud, CEO of Rising Edge, and Isabel Alvarez, a Rising Edge board member but also head of HR, talent & communications.
Timestamps
00.23 – 02.38: Richard and Owen introduce the episode, topic and guests.
02.43 – 04.50: Jeremy outlines some of the challenges facing corporate UK on equity, diversity and inclusion (EDI) , and what role a board has to play.
04.50 – 07.22: Jeremy shares indicators and specific examples of when a board is not operating effectively.
07.22 - 08.48: Philippe and Jeremy debate the roles and responsibilities of directors on working in the interests of shareholders, while making the correct business decisions strategically day-to-day.
08.48 - 09.38: Jeremy explains why board effectiveness is important for corporate governance and the overall success of an organisation.
09.38 - 13.18: Jeremy talks through the process of a board effectiveness review, the methodologies what what can prompt one taking place.
13.18 - 17.37: Jeremy talks through common challenges that boards typically face in terms of effectiveness and how they can be addressed.
17.52 - 19.13: Philippe asks Jeremy if there are distinctions to be made between public and private companies on corporate governance and board effectiveness requirements.
19.14 - 23.08: Jeremy shares best practices and strategies to improve board effectiveness, and how often a review should be considered.
23.08 - 27.24: Philippe and Jeremy discuss the possibility of producing a risk rating or index to benchmark board effectiveness of organisations for the benefit of D&O underwriters.
27.25 - 28.54: Jeremy explains who should have the responsibility to implement a board effectiveness review.
28.54 - 37.56: Philippe, Jeremy and Isabel discuss the assessment of non executive director (NED) performance, objectivity and term limits.
37.56 - 41.50: Philippe and Isabel explain why Rising Edge chose to go through the board effectiveness review process and what they learned from it.
41.54 - End: Richard and Owen reflect on the episode and Owen shares his key learnings from the discussion.
For more information on Rising Edge visit the website, and for the full Rising Edge D&O Podcast archive click here.