Pathways to ASX 200 board roles of the 2018 appointees
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May 22, 2019
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A director must be able to draw on a vast wealth of knowledge and experience to know the right answers to seemingly difficult questions.
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30% Club

The 30% Club article, “Pathways to ASX 200 board roles of the 2018 appointees," quoted Russell Reynolds Associates Consultant Nick Fletcher on how aspiring directors can prepare and position themselves to be considered for an ASX 200 listed board and be successful. The article is excerpted below. 

Executive Summary 

The 30% Club and EY have joined forces to consider the experience and journey necessary to be considered for an ASX 200 listed board, and how aspiring directors can best position themselves to succeed. The conclusions drawn in this report are based on an online survey, completed by males and females who were appointed to their first ASX 200 board in 2018, and interviews conducted with a number of those directors, along with chairs who had appointed at least one new director to the ASX 200 in the last year, and search consultants who work with boards of this size. 

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It has been said that a NED needs to know the right questions to ask while management needs to know the right answers. That sounds quite straightforward – but, in order to formulate those questions, a director must be able to draw on a vast wealth of knowledge and experience. One respondent also spoke about the need for universal qualities such as commercial awareness, having an independent mindset, a readiness to challenge without crossing the line into the executive space, energy, commitment, financial astuteness, integrity and the ability to engage. 

"People who are brilliant but narrow will struggle to be appointed. Boards are also looking for a broader contribution to a discussion about the strategy. If someone can't do that they will not get appointed to a board whatever else they can do." 

Nick Fletcher Managing Director, Russell Reynolds Associates. 

To read the full article, click here.