Words from the wise (heard
at a Director Workshop where subject matter experts shared their
throughts on governance):
Good news is written succinctly. Bad news is wordsmithed.
Sandy Maier - Professional Director
Your directors should not be friends, their friends or accountants
and lawyers (too risk focussed). Your board should reflect your
Set aside blue skies thinking time at board meetings at least
once a quarter.
Beware of joining a board with ‘founder’s disease’. Protective
and passionate, it’s their baby and only they know what is best
Sustainability, to be truly successful,
requires authenticity. Consumers see through ‘greenwash’.
New Zealand needs less financial regulation and more financial
literacy. Education is key.
Now is the time to re-read your loan and OD banking covenants.
Ask your bank where you are in their risk chain.
As a shareholder remember 75% is key. Parting with more than 25%
equity means you have lost effective control of your company.
Good Governance is based on:
It is often said that securing your first board appointment is the hardest unless you are part of the so called ‘Old Boys Network”. From your experience would you say the ‘Old Boys Network’ is? See the results here.