Nicola Gibbs’ Post

KPMG Australia's in-depth survey of over 120 non-executive directors reveals the pressing issues faced by boards. The insights shared in this report reveal a genuine passion among directors to contribute meaningfully to their organisations. Yet, as business conditions become more volatile and uncertain, questions are being raised - will the emerging and competing demands require changes to director roles, pathways, compensation and consultative processes?

I am thrilled to announce that I take a new role as Capability Leader Culture, Leadership & Change for our PwC network. Why am I so enthusiastic? Well, because these three disciplines are vital. Indeed, what can kill a company? Balance sheet issues? Yes. Cash flow problems? For sure. Loss of license to operate? Undoubtedly. But what about “Corporate Culture” gone wrong or inadequate “Leadership”?   There is a long list of companies who experienced a brutal downfall because they had a toxic culture, because they were complacent or because there was an irreconcilable disconnect between leadership and employees.   The truth is that Culture, Leadership and Change are not “soft” or “theoretical” matters. They are not “fluffy”HR stuff where you cut budget. These dimensions lie at the core your organization competitiveness. They are the intangible asset shaping your performance, your lasting success...and potential survival. As a consequence they are under the direct responsability of the CEO and the C-Suite.   This is exactly why I am excited to take this role and support our PwC and Strategy& fantastic professionals around the globe. We are here to assist our clients with our capabilities, insights and tools, equip you for success...and protect you from possible failure. Thank you Peter Brown MBE, Patrice Morot, Christophe Desgranges, Emmanuel Benoist, Xavier Crepon, Edouard Bitton, Jimmy Zou, Pauline Adam-Kalfon, Bas van de Pas, Vincent Le Bellac, Alexandre Pailloncy for your trust and support. Glad to be part of such a terrific community Matthieu Aubusson de Cavarlay, Raphaëlle Sourdille; Bouchra Roby, Frédéric PETITBON, Riccardo Donelli, Anja Sbanski, Bernard Borrely, Meriadec JONVILLE, Julia Lamm, Justine Brown, Serafine Vandebuerie, Will Barkway, Ali Wakefield, Till Lohmann, Dieter Kern, Carolyn McMahon, Jean Malissard, Joachim Dondenne, Marc CHERET, Reid Carpenter, Alice Zhou to name a few. As illustration I use here "Rain, Steam and Speed" painting from Joseph Turner as a metaphor of what organizations are confronted with.

A new leadership approach at EY 💡 An interesting news article from the Financial Times about the latest updates at EY under the leadership of Janet Truncale, set to take the reins in July. Please find below a breakdown of the key points: 1️⃣ Truncale, EY's incoming chair, announces leadership changes for the firm, effective July. 2️⃣ Andy Baldwin, former Global Managing Partner for Client Services, moves to a senior advisory role. 3️⃣ Truncale aims to cut costs and streamline operations, following the failure of Project Everest, a plan to split the firm's global consulting business. 4️⃣ Plans for cost reduction expected to be detailed in a meeting with Senior Partners in Florida. 5️⃣ Global Managing Partners increased from two to four: - Jad Shimaly, currently Head of EY Canada - Raj Sharma, currently Head of the US consulting business - Anthony Caterino, a veteran Partner from the US business - Harsha Basnayake, currently Deputy Leader of the Asia-Pacific region. 6️⃣ Truncale's strategy focuses on leaner operations and fostering growth and innovation within EY. 🔗 Read more in the Financial Times article: https://lnkd.in/eqJSiX86 #EY #LeadershipChanges #ProjectEverest

KPMG's Board Leadership Centre shared an interesting perspective yesterday on the strategic imperative of age balanced boards. As someone who’s recently transitioned from an executive career to the other side of the boardroom table I’m often asked whether I have another “CEO role in me”. Truth is, I didn’t decide on a portfolio career because I was slowing down and retiring (as some of my friends joke) - more so because I wanted to use my energy and experience in a different way to the benefit of a broader range of businesses. I really love the variety and diversity that comes with working across a portfolio. At a time when companies face unprecedented disruption and uncertainty – wars in Ukraine and the Middle East, trade and geopolitical tensions, economic volatility, persistent inflation and higher interest rates, technology and business model disruption, elevated cybersecurity risk, climate risk, and more – the importance of diversity in the boardroom can not be overlooked. Of course gender, ethnicity and geographical representation have rightfully garnered attention, but there is an open question as to whether the transformative power of age diversity has been overlooked. According to Spencer Stuart’s UK Board Index: - The average age of NEDs has crept back up to around sixty years old.  - Only 43 FTSE100 companies have chairs and/or non-executive directors under 50 (55 individuals).  - And for the S&P100, the statistics are even more bleak with only 25 companies having chairs and/or non-executive directors under 50 (37 individuals). Why does it matter? Highlights from the summary indicate an age-balanced board can offer unique advantages by striking the right balance between: - Innovative and creative thinking versus experiential wisdom - New ways of working versus tried-and-tested leading practices - Technological prowess versus an experience-based sense of judgement - Adventurous versus measured conservatism - Agility versus stability Link here to read more: https://lnkd.in/e3wxNcyK #boardroom #nonexecutive #chair #agediversity #representation 

PWC's orthodox and wrong thinking, learning from indigenous societies, Happiness economics and what employees deserve. The Decrapify Work Not-Newsletter no 160 - The Pet Shop Boys Edition #futureofwork #leadership #happiness #decrapifywork

Data from Ernst & Young shows that 98% of CEOs agreed with the statement, “our purpose is central to our organization and well understood by all.” That’s nice, so most CEOs now know, that purpose is essential. As an aside, another E&Y study showed, that Purpose or WHY driven businesses, grow three times faster! So purpose is essential, good. The issue is, though, the belief in a well-understood organizational purpose drops by almost half beyond the C-suite. This demonstrates that leaders are deluding themselves with their overconfidence. “The more senior you are, the more confident you are that your firm’s purpose has been clearly explained.” Why do you care? Because you want to attract and retain the right people and care about your results, profit, cash, and/or funding. “The disconnect between purpose at all levels disenfranchises employees and harms morale.” And “undermines an organization’s reputation among its customers and other stakeholders, who will not hesitate to call out perceived hypocrisy on social media and other platforms.” Ouch Check it out, and see the reality in your team(s). If the purpose is not lived throughout the business, you are making life harder for yourself! If you still think this is fluffy, read the research and remember this came from accountants (E&Y)! “Is your purpose lectured, or lived?” – EY.com #purposedriven #livedpurpose #attractandretain

Great to see PwC UK's new senior partner immediately taking on the biggest challenge facing UK businesses. Marco Amitrano has shared findings from the firm's Framework for Growth research, and business leaders didn't hold back. Read his piece in The Times #IndustrialStrategy

Recent studies on Australia's top 250 board directors reveal some eye-opening figures on remuneration. The financial allure is undeniable, with many directors approaching or exceeding the $1M mark, primarily through ASX board roles enhanced by committee and advisory work. The progression from modest beginnings (perhaps earning just a few hundred per meeting) to substantial earnings highlights a compelling career trajectory for those considering a shift toward board positions. This is especially attractive for executives contemplating an early exit from the corporate world to develop a lucrative board portfolio. For anyone starting, patience is key. Initial earnings may be low, and unpaid board roles are typical, but long-term benefits should be considered. Strategic career investments and a focus on professional development can eventually lead to high-profile, well-compensated board appointments. #BoardDirector #CareerAdvice #ExecutiveGrowth #ProfessionalDevelopment

“A recent PwC paper addresses behavioural factors that lead to bad board decision-making. Boards are susceptible to rigid group dynamics that degrade decision-making in the face of crisis situations. They often double down on bad decisions to avoid admitting failure. Boards fail to take advantage of the collective intelligence that diversity is intended to foster by failing to create a culture that encourages dissent. We need better research on how such group dynamics can frustrate high-level boards.” https://lnkd.in/dY8xbP2S

"The ranking was compiled through a rigorous process built around a capabilities assessment (thousands of data points across five dimensions), and the views of clients (over 900 reviews) and consultants (over 2,800 firm reviews across the different areas of service)." 🚀You can find Agile Dynamics in Top 100 firms in the Middle East 2024.