The topic for this podcast is the Value of Boards, and more specifically about value and impact of Non Executive Directors ( NEDs).
Are NEDs a waste of money or an essential part of the business?
And to help us unpick and better understand it, is Ian Shepherd.
Ian is Chairman of the PE-backed retailer Bensons for Beds. Over the last 25 years, Ian has served as CEO, COO and in a number of senior commercial roles for a variety of leading retail, hospitality and media brands including Odeon, Vodafone, Sky and Game where we met 10-12 years ago.
Ian is also the author of 2 books on retailing - Reinventing Retail and The Average Is Always Wrong - and writes a weekly newsletter on retail and business topics at Moving Tribes ( movingtribes @ substack.com )
So it is with great pleasure I introduce Ian to you and thank him for his valuable insights and information, and more over his desire to help build better business and businesses.
This podcast will interest people who are generally interested in Boards, Board Behaviours, when to have a Board and the principles of Boards. Its fair to say that, should he be minded, Ian could probably deliver very entertaining comedy show on the subject, given his wealth of practical experience and dry humour!
More specifically, if you are thinking about whether you need a board, the good and bad of having a board, the ups and downs, want to understand the difference between a Chair of a Private Co, Plc or PE backed organisation, or are thinking about being a NED, this podcast is for you. You may be a shareholder wondering what a board is doing for you, and Ian will help.
Ian and I discuss how the world is changing in unprecedented ways: Climate change, Covid, war close to home, financial instability, food costs, high street store closures and energy prices, and in UK we had three Prime ministers in 6 weeks! One might aptly refer to this as #PolyCrisis. I was fascinated to hear how Ian leads against this backdrop, and given the situation, what part do boards play, or should play in navigating this period?
Boards and DEI (Diversity, Equity and Inclusion) is a topic close to my heart, but more importantly its one I see businesses and boards wrestling with. Ian talks very openly about his thoughts, experiences and suggestions on this matter. As he points out, he doesn't know all the answers, but certainly has some challenging views and sets high standards for himself and the broader NED community.
What does a diverse board look and feel like. When is a diverse board not a diverse board? Listen in to Ian's thoughts or send us your views.
Topics and questions discussed include:
Why and when do we need a board
Are NEDs more or less useful than Christmas Tree decorations or Bidets
How could or should NEDs add value
What is the role of a NED and what isnt it
Whats the role of the Chair person, and how does Ian see himself in that space
To what degree should the board be involved in ESG
Does a Board set the tone or Culture for the business
Whats the coasts for the business in getting it wrong when it comes to Boards and NXDs Two questions from listeners:
Why do so many companies seek NEDs with FD experience – surely they should be looking for more diverse thinking
How much influence should boards have - Ours feel quite disruptive I very much hope you found the views and ideas in this conversation of value. If you have any questions, views or feed back on this podcast, or want to suggest a guest, please get in touch with me pj @ pjstevens.co.uk