NEDonBoard: Our conversation with Sir Win, Chairman of the FRC

Pearls of wisdom

In October 2018, NEDonBoard had the pleasure to welcome Sir Win Bischoff, at the time, Chairman of the FRC for a discussion with our members on the recently published UK Corporate Governance Code. The conversation was facilitated by Kathie Child-Villiers (recording can be accessed here). 

On this blog, we highlight some of Sir Win’s key pearls of wisdom gained by the audience and our community of non-executive directors and board members. 

On corporate culture: 

“The tone has to be set by the CEO and the management team and supervised by the board”.  

On board effectiveness: 

“Best boards both challenge and support”.  

On advisory boards: 

“Advisory Boards are good with the right business model and structure and I am in favor of them”.  

On NEDs: 

“NEDs play an important role in supporting management and must also exercise a good degree of scepticism”. 

On chairs: 

“All NEDs are important but Chairs are even more important as they lead the board and support the CEO”. 

On succession planning: 

“Succession planning for non-executives, especially for the Chair of the Board and of the sub-committees is as important as succession planning for key executives”.  

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Written by Elise Perraud