There is a danger that a board and its constituent members, having engaged an external person to conduct an evaluation and shared with them in confidential sessions their concerns and issues, will feel that they have off-loaded the problems for another then to resolve.
Managing succession remains a challenging process, and it often takes the intervention of an independent third party with whom directors feel able to share their concerns for it to be raised and advanced.
Reviewing the board of one charity I had the opportunity to observe the contributions of the two youngest members of that board. Each of them was in their twenties and their vision, their insight and their maturity were remarkable. They were a real asset.
With coronavirus demonstrating the potential impact of existential threats, is the introduction of an audited resilience statement enough to encourage boards to prepare for and stress-test worst case scenarios?
The long-awaited probe into the IT crisis, that left 2m TSB customers without access to their current accounts, highlights key governance failings.
In the wake of the large-scale failures of firms such as Carillion and BHS, the government is under pressure to crack down on ‘reckless’ directors.
