Why a chairman and CEO shouldn’t be friends

Ensuring that boards devote sufficient time discussing strategy and driving shareholder value, rather than dealing with compliance issues, remains a key challenge for directors…

according to Graeme Hunt for Australian Financial Review.

It’s not new news that we’re operating in an increasingly regulated environment. The fallout from the Hayne commission has extended beyond financial services and into every corner of corporate Australia, and leaders are feeling the heat.

As I penned in a recent article, boards, directors and senior managers can’t afford to cut corners to boost profits by ignoring compliance issues. While increased focus on compliance may take time away from new strategic opportunities in the short-term, we’re continuing to see that long-term shareholder value has to be linked tightly with integrity and compliance to ensure sustainability of brand.

An interesting discussion facilitated by Sally Patten: https://www.afr.com/work-and-careers/leaders/why-a-chairman-and-ceo-shouldn-t-be-friends-and-other-insights-20200211-p53zrd