25 August 2015
Critical discussions and decisions are not taking place in the boardroom, which puts companies in a vulnerable position with regulators.
'Often distrust is all about perceptions and not the reality of what would happen if honest and open conversations actually took place.'
The impact of poor decisions can be far reaching – cosecs can correlate best practice with sales of activity to produce better outcomes for the organisation as a whole.'
'It is critical for a cosec to manage multiple reporting lines with the fundamental interests of the company in mind.'
'Weak chairmen who do not provide an open forum for key questions like "why" or the licence to say "‘no" drive conversations outside and undermine the check and balance that the board should provide.'
'Non-execs and execs are not properly aligned – there is too much polarisation and conversations in silos. Politics is getting in the way.'
'Board training about more effective chairing and bringing in "experts" is needed.'
'Make the first hour of each meeting training to normalise learning and self-improvement.'