Queensland University of Technology in association with other partners hosted an event entitled 'Boards of the Future'. This presentation sets out my summary of some of the key points discussed at the event. Disclaimer: The notes are provided in good faith and may not accurately reflect everything that was said by the speakers.

1. 1. BOARD COMPOSITION
General Comments
• Concept of all knowing board/CEO may no longer exist
• Use advisers where needed
• Generalists add great value in dynamic environments
• Ability to rely upon each other’s skill sets (not excessively)
Diversity on boards:
• General diversity - gender, age, skills etc.
• Domain constrained thinking – consider other industries or areas of study
• Open mindset – accept not knowing all the answers – ask the right questions
• Deal with ambiguity and uncertainty – continually learn and refresh strategy often
Future proofing boards
• Board members who like to explore concepts
• Strategy cycle - set, monitor, analyse and refresh
• Continually challenge company’s position in 5 or 10 years
Board should include (but not be limited to):
• Strong financial person to run Audit committee
• IT and technologically adept people
• Challenging futurists
Title: Some key points from #Futureboards presentation at QUT, Brisbane, Australia on 01/09/2015
Speakers: Patrick Grier, Monica Bradley, Brett Heading, Kirstin Ferguson. Speakers’ views may not be accurately reflected in these notes.
Notes prepared in good faith by: Fahim Khondaker. Twitter: @Fahim_Khondaker
“We are assuming the
companies of the future will
have boards”

2. 2. BOARD FUNCTION/ROLE
General Comments
• Focus discussions on “what matters”
• Facilitate and “allow” it to be rather than “tell” it to be
• Balance between a culture of open dissent and cohesion
• Trust and support CEO and Management.
• Bring the best out of CEO and each other.
Elements of a good board:
• Always doing the best for the shareholder
• Board must add value (skills and to management)
• Involved in strategy setting and way forward
• Balance between board and management
Effective directors
• Emotional Intelligence – ask situation dependent questions
• Intellectual Curiosity – desire to learn
Strategy setting
• No wrong or right method
• Gap between theory and practice
• Typical to see CEO owning and running with strategy
• Boards need to value add – evaluate and endorse
• Refresh strategies often – align meeting agendas to strategy
Title: Some key points from #Futureboards presentation at QUT, Brisbane, Australia on 01/09/2015
Speakers: Patrick Grier, Monica Bradley, Brett Heading, Kirstin Ferguson. Speakers’ views may not be accurately reflected in these notes.
Notes prepared in good faith by: Fahim Khondaker. Twitter: @Fahim_Khondaker
“Digital and Technology are
enablers – not strategies in
themselves”

3. 3. ASPIRING BOARD MEMBERS
General Comments
• Referral through sponsor’s network is typical pathway
• Opportunities in start-up space
Considerations when selecting a board to join:
• Chairperson’s character, capability and effectiveness
• Financial position of the company
• Corporate Governance
• Short term needs for capital raising
• Does it make a difference to the future/make the world a better place
• Phase of business cycle and willingness to adapt
• Personal interest in the industry of the company
“Innovation is more than science and technology –
it’s about making the complex simple”
Title: Some key points from #Futureboards presentation at QUT, Brisbane, Australia on 01/09/2015
Speakers: Patrick Grier, Monica Bradley, Brett Heading, Kirstin Ferguson. Speakers’ views may not be accurately reflected in these notes.
Notes prepared in good faith by: Fahim Khondaker. Twitter: @Fahim_Khondaker