A board career is a fantastic one for those who love strategy and working across a range of sectors and settings, but the mental load shouldn’t be underestimated. Senior executives gathered in Brisbane earlier this month for our latest Pathway to the Boardroom event, where we were joined by Craig Manson and Jo Willoughby . We returned to some of the ground covered at our recent events from a different angle, and further explored the risks facing directors, different board settings and the realities of the role. Seven themes stood out. The first few board roles take time The move into the boardroom is situational and can follow a career crossroads. A board opportunity presenting soon after leaving an executive role can be taken as a sign that the timing is right. It can also be driven by realising the demands of executive life no longer suit you and choosing to pivot your career into the boardroom. Getting your first few board roles can take a long time, and your decisions need to be made purposefully. You should be prepared for a long journey and ready to stay open and curious. Caution matters too when considering opportunities: risk profiles need to be aligned, and the unintended consequences of an opportunity need to be thought through. It is important to be in a position to sustain yourself financially while your portfolio builds. Is a not-for-profit a good way to start? One perspective is that not-for-profit boards are a poor starting point given they tend to carry higher risk profiles and can lack the resources to protect their directors. Advisory boards can be a better pathway, and you can contribute expertise without being responsible for big decisions. Another view is that a not-for-profit is the easiest way to begin. It gives you clarity on your own risk appetite, a good grounding in governance, and informs your view on building your portfolio. However, not-for-profit boards will not necessarily help you get your first commercial board role. Understanding your value proposition Be clear about where you can add value from a governance perspective and just as clear about where you cannot add value. Your value proposition changes over time, so revisit it regularly and keep a focused perspective on what you can credibly deliver. The same discipline applies to the board resume, which is different to an executive resume: short, sharp and specific, and not written through an executive leadership lens. Show how your core executive competencies translate into a board governance role and keep updating it as your value proposition evolves. Know the board before you join it Due diligence before joining a board means looking at past board minutes, reports, the organisation’s financials, and using informal networks to reference and gather information on the company. It also means meeting with past directors and the management team, and gathering intelligence from other people in the organisation. A listed environment is intense and subject to high scrutiny. Going through a listing can be taxing on executive teams, and as a director you spend substantial time on compliance. There are continuous disclosure requirements, and the stakeholder gaze is constant. Government boards are also high scrutiny with a lot of reporting, though the personal accountability differs. Your obligations as a director don’t change, it is just a different cadence in a listed environment. In private organisations, you get slightly closer to the organisation with more hands-on involvement than in listed environments. Founder-led organisations are different again. No two founders are the same, and you need to be clear on your own risk appetite, as you are taking on legal risk as well as personal and professional risk. It is important to understand upfront the founders’ motivations and alignment to the business, as once a founder takes money from investors it is no longer solely their business. Go in with your eyes open and be prepared for what comes next. Whatever the organisation, you need to enjoy what you are doing and understand whether you and the organisation can deliver the expected outcomes, and the investment case you will be held accountable for. Being able to ask the right questions is key There is constant change with emerging technology and AI, and boards need to think about how to engage with the different technology skillsets. You are expected to know about AI, data, and how to protect an organisation against cyber threats, so being an educated generalist on these matters who knows enough to ask the right questions is key. That means continuing to upskill for as long as you are on a board. Boards also need transformation and change capability, which comes from directors who have run organisations, can work through ambiguity and change cycles, know their customers and can bring the customer voice to the boardroom. Directors must be able to read and interrogate financial statements to ask the right questions. Behavioural skills are harder to assess. Humility and integrity are important, as is the ability to build connection with other directors: being collegial, open-minded and emotionally intelligent. Good directors have firm opinions but are open to feedback and ultimately changing their opinion. The dynamic and effectiveness of the board are crucial, and the culture around a board table must be right. An effective Chair is crucial to a board’s success The relationship between the Chair and the Chief Executive Officer is critical. A Chair who understands what it is like to be a Chief Executive Officer can make a great mentor. A good Chair is curious, is motivated by wanting to build a great team, and is a unifier and driver who asks the right questions. How a Chair manages differences of opinion and robust conversations is critical to the success of the board. A good Chair is always a step ahead when it comes to succession planning. It should always be top of mind, because thinking about where the next generation of leaders will come from matters for the sustainability of the organisation. The job is always on You are always on call, and you never know what will come up next. You have to be accessible and prepared to be available whenever you are needed, and the mental load is real. You’re not in it for the money; you do it for the love of the work. For those who enjoy strategy and working with organisations to help them make better decisions, it can be very rewarding. _________________________________________________________________________ The conversation on what it means to be board ready continues, and Brisbane added the question of fit: which type of board setting suits the risk a director is willing to carry, and what the role will ask of them once they are on it. Our thanks to Michelle Gardiner , Managing Partner – Board practice at Derwent, for hosting the morning, and to Jo and Craig for sharing their experience with such practicality and honesty. Continue the conversation For further insights or to explore how Derwent can support your organisation's approach to board composition and succession, connect with our team at brisbane@derwentsearch.com.au . To register your interest in future Derwent events, please reach out to us at events@derwentsearch.com.au .

Senior executives gathered in Sydney last month for our Pathway to the Boardroom event, a programme now in its second decade of helping executives become board ready. We were privileged to be joined by Jacqueline Chow and Sylvia Wiggins who discussed what the transition from executive life to the boardroom actually involves and what it demands once you're there. Six themes stood out. The path looks different for everyone. The journey to becoming a Non Executive Director is individual and varied. For some, it starts with the realisation that they can create more impact in the boardroom than as an executive leader. Often this comes with a preference for the breadth of a board role, over the narrower focus of life as an executive. For others, it follows an event that prompts a deliberate rethink of their career. Not every board is going to be right for you. One thing some directors wish they had known at the beginning of their journey is that not every board is the right fit for you personally. The pathway involves a lot of rejection, and it takes maturity to reflect on what you have to offer as well as personal interest. Boards appoint based on what the organisation needs, so a rejection reflects a decision made in the board's interest rather than a judgement on the individual. It's also important to do due diligence on boards before joining. Non negotiables for joining a board include hygiene issues such as financials and legal but testing the people and culture of a board is imperative, this includes checking who among your own network has already worked with people on that board. Board culture reflects both an ability to vigorously debate ideas and a commitment to board solidarity to make a collective decision. A successful board is comfortable with both. The skillset is different. Skills that serve well in an executive career don't automatically transfer to the boardroom. Early on, a new director may be eager and want to ask lots of questions, but in a boardroom, what adds the most value is listening and adding a considered perspective. At a board meeting some of the most impactful directors can often sit quietly for most of a board meeting and make one well-judged contribution that makes a pivotal difference to the decisions made. The mindset shift matters too, in the executive world, a role carries responsibility for a function, but board directors are accountable for the whole organisation, which includes identifying contradictions, such as a growth target that conflicts with the risk appetite. Board composition expectations are shifting. The skills matrix is evolving. Finance, legal, governance and industry expertise remain core, but emerging skills such as cyber, work health and safety, and AI, once viewed as a specialty sitting with one expert board member, are now shifting to an expectation that all board members must understand. Directors need to be diligent about upskilling, particularly in AI, which is changing how organisations do business. Behavioural attributes matter just as much as technical capability: relentless curiosity to understand what is happening in the organisation, the confidence to change your mind and be challenged in your thinking, and a collaborative style comfortable with viewing the board as a collective that gains from the diversity of everyone in the room. Succession planning must be continuous. Boards need to discuss succession planning continuously to ensure it is orderly and timely, whether in response to volatility in the world, or externalities that require a transformational pivot. This includes carefully considering the timing of bringing on a new director. Chief Executive Officer succession is a particular challenge, requiring a balance between people feeling safe in their roles and the reality that a CEO who is well regarded today may not continue to be the right person for the organisation in a fast changing environment. The importance of building strong relationships can't be underestimated Trust is the foundation of a well-functioning board. In a crisis, directors rely on colleagues who will commit time and energy to resolving the problem as a team, and who can be counted on to ask the hard questions. That confidence has to be built well before it is needed. Because board members typically meet once a month or less often, relationships need deliberate attention, such as volunteering for a committee together, suggesting a webinar or inviting a fellow director for a coffee. _________________________________________________________________________ Our thanks to Michelle Gardiner , Managing Partner at Derwent, for hosting the morning, and to Jacqueline and Sylvia for such generous, practical insight into the realities of board life. Continue the conversation For further insights or to explore how Derwent can support your organisation's approach to board composition and succession, connect with our team at sydney@derwentsearch.com.au . To register your interest in future Derwent events, please reach out to us at events@derwentsearch.com.au .

A board career is a fantastic one for those who love strategy and working across a range of sectors and settings, but the mental load shouldn’t be underestimated. Senior executives gathered in Brisbane earlier this month for our latest Pathway to the Boardroom event, where we were joined by Craig Manson and Jo Willoughby . We returned to some of the ground covered at our recent events from a different angle, and further explored the risks facing directors, different board settings and the realities of the role. Seven themes stood out. The first few board roles take time The move into the boardroom is situational and can follow a career crossroads. A board opportunity presenting soon after leaving an executive role can be taken as a sign that the timing is right. It can also be driven by realising the demands of executive life no longer suit you and choosing to pivot your career into the boardroom. Getting your first few board roles can take a long time, and your decisions need to be made purposefully. You should be prepared for a long journey and ready to stay open and curious. Caution matters too when considering opportunities: risk profiles need to be aligned, and the unintended consequences of an opportunity need to be thought through. It is important to be in a position to sustain yourself financially while your portfolio builds. Is a not-for-profit a good way to start? One perspective is that not-for-profit boards are a poor starting point given they tend to carry higher risk profiles and can lack the resources to protect their directors. Advisory boards can be a better pathway, and you can contribute expertise without being responsible for big decisions. Another view is that a not-for-profit is the easiest way to begin. It gives you clarity on your own risk appetite, a good grounding in governance, and informs your view on building your portfolio. However, not-for-profit boards will not necessarily help you get your first commercial board role. Understanding your value proposition Be clear about where you can add value from a governance perspective and just as clear about where you cannot add value. Your value proposition changes over time, so revisit it regularly and keep a focused perspective on what you can credibly deliver. The same discipline applies to the board resume, which is different to an executive resume: short, sharp and specific, and not written through an executive leadership lens. Show how your core executive competencies translate into a board governance role and keep updating it as your value proposition evolves. Know the board before you join it Due diligence before joining a board means looking at past board minutes, reports, the organisation’s financials, and using informal networks to reference and gather information on the company. It also means meeting with past directors and the management team, and gathering intelligence from other people in the organisation. A listed environment is intense and subject to high scrutiny. Going through a listing can be taxing on executive teams, and as a director you spend substantial time on compliance. There are continuous disclosure requirements, and the stakeholder gaze is constant. Government boards are also high scrutiny with a lot of reporting, though the personal accountability differs. Your obligations as a director don’t change, it is just a different cadence in a listed environment. In private organisations, you get slightly closer to the organisation with more hands-on involvement than in listed environments. Founder-led organisations are different again. No two founders are the same, and you need to be clear on your own risk appetite, as you are taking on legal risk as well as personal and professional risk. It is important to understand upfront the founders’ motivations and alignment to the business, as once a founder takes money from investors it is no longer solely their business. Go in with your eyes open and be prepared for what comes next. Whatever the organisation, you need to enjoy what you are doing and understand whether you and the organisation can deliver the expected outcomes, and the investment case you will be held accountable for. Being able to ask the right questions is key There is constant change with emerging technology and AI, and boards need to think about how to engage with the different technology skillsets. You are expected to know about AI, data, and how to protect an organisation against cyber threats, so being an educated generalist on these matters who knows enough to ask the right questions is key. That means continuing to upskill for as long as you are on a board. Boards also need transformation and change capability, which comes from directors who have run organisations, can work through ambiguity and change cycles, know their customers and can bring the customer voice to the boardroom. Directors must be able to read and interrogate financial statements to ask the right questions. Behavioural skills are harder to assess. Humility and integrity are important, as is the ability to build connection with other directors: being collegial, open-minded and emotionally intelligent. Good directors have firm opinions but are open to feedback and ultimately changing their opinion. The dynamic and effectiveness of the board are crucial, and the culture around a board table must be right. An effective Chair is crucial to a board’s success The relationship between the Chair and the Chief Executive Officer is critical. A Chair who understands what it is like to be a Chief Executive Officer can make a great mentor. A good Chair is curious, is motivated by wanting to build a great team, and is a unifier and driver who asks the right questions. How a Chair manages differences of opinion and robust conversations is critical to the success of the board. A good Chair is always a step ahead when it comes to succession planning. It should always be top of mind, because thinking about where the next generation of leaders will come from matters for the sustainability of the organisation. The job is always on You are always on call, and you never know what will come up next. You have to be accessible and prepared to be available whenever you are needed, and the mental load is real. You’re not in it for the money; you do it for the love of the work. For those who enjoy strategy and working with organisations to help them make better decisions, it can be very rewarding. _________________________________________________________________________ The conversation on what it means to be board ready continues, and Brisbane added the question of fit: which type of board setting suits the risk a director is willing to carry, and what the role will ask of them once they are on it. Our thanks to Michelle Gardiner , Managing Partner – Board practice at Derwent, for hosting the morning, and to Jo and Craig for sharing their experience with such practicality and honesty. Continue the conversation For further insights or to explore how Derwent can support your organisation's approach to board composition and succession, connect with our team at brisbane@derwentsearch.com.au . To register your interest in future Derwent events, please reach out to us at events@derwentsearch.com.au .