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