RSA to play a role in transforming the ‘Conforming’ Board into a Performing Board
Posted on 31/12/2014
RSA, the leading global Life Sciences Executive Search and Interim Management specialist, today launched a survey which seeks to explore issues around remuneration for NEDs in public and private company environments, risk and internal controls, board performance management and succession planning. The reason for the survey is to refine the understanding of the skillsets and backgrounds most in demand in Life Sciences board rooms today; ultimately allowing companies to build better Boards.
Over the past few years, Board’s interactions with shareholders were predominantly negative. Funds were in short supply, executives were focussed on the runway not on the sky; and potential new shareholders talked tough in every negotiation. This frequently led to a focus on process and “simple” compliance – on risk minimisation and cost containment rather than on opportunity enhancement. In essence, Boards became subservient. However, the sun is now shining, investors are coming back and deal volumes are at a level not seen since the late 1990’s.
“As well as ensuring compliance, Boards develop and refine the strategy, vision and long term value of the shareholders’ investment,” says Nick Stephens, Executive Chairman of RSA. “Chairs therefore need non-executives with diverse experiences and skills, fit for the businesses needs today as well as for long term growth and tactical advice. A vibrant Board therefore needs high energy people, firm but respectful debate and relevant experience.
“Now is the time to re-examine your strategy, review your Board objectively and use real data to ensure your company is led for the benefit of all stakeholders,” concludes Nick.