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Owner-led organisations are the backbone of economies worldwide. Yet when the primary stakeholder is in the room, Boards must navigate a unique set of dynamics to be effective with governance, strategy issues, and advising.

In this podcast, Dr Sabine Dembkowski, Founder and Managing Partner of Better Boards, is joined by Tina Mavraki, who brings 27 years of board finance and natural resources experience to the conversation. A Chartered Portfolio Director, Tina held senior roles at Morgan Stanley, Citi, and Noble Group, where she scaled up multi-billion-dollar businesses. Her board portfolio spans FTSE100 candidate Metlen Energy & Metals S.A. and First Bauxite. 

“Invariably, owners invite a Board into their structure because they're looking to make a transformation.”

In Tina’s experience, the biggest reason owner-led companies establish a Board is for help with a significant change or transformation. They anticipate this development and aim to expand the pool of expertise and guidance available to them.

“What owners get out of this is perspective.”

Owners have a vision, but a Board provides perspective. This offsets an owner’s personal limitations and helps expand a vision into a coherent and workable plan. Boards also provide the emotional, mental, and tactical support for major transformations.

“Boundaries are the most beautiful tension you can get.”

For Tina, the way the Board and the owner define, expand, and refine boundaries is a significant experience. Figuring out lines and limits, understanding how those need to evolve to fulfil future ambitions, and creating workable succession, continuation, and growth plans are all places where Board members can have a measurable impact 

It begins by building trust. This is especially important in owner-led firms. In most cases, the owner will know vastly more about the organisation’s operational details. So, Tina recommends that Board members make extra effort to understand the organisation and its structure, how it generates profits, and all its key players. 

“You need to understand very intimately the founders themselves. What are the key attributes that have brought this person here?”

In owner-led organisations, the Board and the owner have a more personal relationship. To make effective interventions, provide mentoring, or offer quality advice. Tina believes that Directors must first gain a deep understanding of the owner, including their strengths and areas for growth. Then, for best results, coordinate with the Board as a whole on sensitive conversations or strategic interventions.

“I like Advisory Boards very much… they are a beautiful forum.”

For owner-led companies where a full, formal Board is not a fit, Tina likes Advisory Boards. To her, they can bring in guest experts to dive into issues. This rotation of minds also brings access to senior-level experts who may not have the time for a Board role, but who are willing to come and share their knowledge. 

The three top takeaways from this conversation for effective boards are:

1.      Make time to understand the operating environment, the priorities, the players, and when and how to intervene. 

2.     Lean into the Board process. 

3.     Board impact is visible, critical, and direct, with immediate feedback.

If you would like to become part of the Better Boards community, learn about our distinctive approach and explore opportunities to work with us or contribute to The Better Boards podcast series, get in touch at [email protected]. We love to hear from you.