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Angels at the Table

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Angels at the Table Magazine of the Institute of Directors in New Zealand AUGUST/SEPTEMBER 2015 AUGUST/SEPTEMBER boardroom ANGELS AT THE TABLE Start-ups call for special skills in directors IoD DIRECTORS’ FEES SURVEY RESULTS – HOW MUCH DO YOU PAY A DIRECTOR? NEW LEADERSHIP AT THE IoD Sport and business – Spreading your wings New Zealand solutions The perfect media storm – Directors wanted for a perfect match? with digital know-how to global food problems how prepared are you? board vacancies HNZ1520 Boardroom Magazine Advert_297x210 FA.indd 1 6/08/15 10:25 AM BOARDROOM | 3 9 Agent for change 10 A voice for good governance 12 Angels at the table 17 Directors’ Fees Report 12 Angels at the table reveals more work Fledgling and high-growth companies call for the money for a particular set of skills and experience 18 How to be a bird not a dinosaur in their directors. 21 Governance Leadership Centre update 23 Playing the game 26 Surviving the perfect storm 30 Digital identity and the cost of doing business 32 How to network 34 Local solution to global food safety challenge 36 Living up to potential 38 Making a smart move 40 Health and safety reforms – the key changes 46 Playing a strategic game INSIDE IoD 26 Surviving the perfect storm 5 CEO Report Social media has added an edge to a media crisis 6 Update 42 Branch Events 44 Branch News 47 Continuing Professional Development Institute of Directors in New Zealand (Inc) Mezzanine Floor, 50 Customhouse Quay PO Box 25253, Wellington 6146 New Zealand tel: 04 499 0076 23 Playing the game 28 How to network fax: 04 499 9488 Sport and business – a perfect Top tips from life’s natural email: [email protected] match or issues to smooth out? networkers www.iod.org.nz HNZ1520 Boardroom Magazine Advert_297x210 FA.indd 1 6/08/15 10:25 AM 4 | BOARDROOM Institute of Directors (IoD) boardroom is published six times a year by SENIOR MANAGEMENT TEAM COUNCIL 2015 the Institute of Directors in New Zealand Chief Executive Officer Michael Stiassny, President; (IoD) and is free to all members. Subscription Simon Arcus Liz Coutts, Vice President; for non-members is $155 per year. Dr Helen Anderson, Wellington; Manager, Membership, Margaret Devlin, Waikato; boardroom is designed to inform and Marketing and Communications Julia Hoare, Auckland; Alan Isaac, stimulate discussion in the director Nikki Franklin Wellington; John McCliskie, Nelson community but opinions expressed Manager, Governance Leadership Centre Marlborough; Ray Polson, Canterbury; in this magazine do not reflect IoD (Acting) Glenn Snelgrove, Bay of Plenty; policy unless explicitly stated. Felicity Caird Geoff Thomas, Otago Southland; Editor, Katherine Robinson 027 5639 686 Clayton Wakefield, Auckland Corporate Services Manager or email [email protected] Chris Fox COMMERCIAL BOARD Advertising Manager, Pamela Graham General Manager Commercial Ray Polson, Chairman, Michael Stiassny, 027 4333 818 Tim Allen Dr Alison Harrison, Rangimarie Hunia, boardroom is designed by Strategy Design Catherine McDowell, Simon Arcus Branch Network Manager & Advertising, www.strategy.co.nz Peter McLellan Institute of Directors in New Zealand (Inc) Manager Chartered Pathway Mezzanine Floor, 50 Customhouse Quay, Tony Southall PO Box 25253, Wellington 6146, The Institute of Directors has staff based at the National Office in Wellington, New Zealand Tel: 04 499 0076, an office in Auckland, and eight branch managers operating from their localities. Fax: 04 499 9488 Email: [email protected] For National Office, telephone 04 499 0076. For branch managers’ contact details www.iod.org.nz see Branch Events, page 43 boardroom is pleased to acknowledge the support of sponsors ASB, Marsh, Chapman Tripp and KPMG. asb.co.nz, 0800 803 804 marsh.co.nz, 0800 627 744 chapmantripp.com, 04 499 5999 kpmg.co.nz, 09 367 5800 BOARDROOM | 5 CEO REPORT Unsung heroes It’s the work behind the scenes that makes all the difference ECONOMIC BACKBONE the fee. New Zealand needs directors 2015 has carried with it a theme of who are courageous but for whom the “A professional unsung heroes. As the backbone of risk and reward balance makes sense. association like the confidence in the New Zealand economy, IoD has members at the directors’ work is often unsung STRONG SUPPORT and it is a role performed largely A professional association like the IoD its beating heart” behind the scenes. New Zealand’s has members at its beating heart. Those prosperity is built on strong, long-term members have shared resolve about the performances from organisations across importance of professional standards. We’re also seeing a real hunger for They require a strong voice in governance our business and community sectors, governance expertise from the rural supported by professional development and directors are at the heart of this. sector. Our Rural Governance Essentials opportunities of the highest quality. The value of directors comes into stark course recently piloted in Invercargill. We focus as we release the annual IoD It’s critical that directors keep pace with added an extra course and had fantastic Directors’ Fees Report. The results make change, and the IoD needs to be relentless feedback from our first participants. We’re for interesting reading. The median fee in asking what a modern membership looking forward to rolling this out across for a director in a New Zealand-owned entity should look like and what delivering the country, with courses in Hamilton, firm is $37,000. Compare this to $99,625 value back to members should represent. Christchurch and Palmerston North next. The best thing about these courses is they for an overseas-owned organisation. This Interest in our new Leading in a Digital Era are driven by farmer demand. People are comes at a time when the compliance and course has been strong and we’ve already calling the IoD to ask for this in their region. liability framework seems increasingly added several more courses across the complicated, and we see a 41% increase in country. The key to this course is not OUR OWN UNSUNG HERO the median time commitment for directors. just the ‘hot button’ issue of cyber risk, Members consistently tell us that but also understanding what ‘digitising’ Director remuneration is a contentious boardroom is one of the membership your business might look like. What is subject, sometimes occluded by benefits they value most highly. a digital director for the modern era? assumption and conjecture. Some That it is so highly regarded is a tribute negative commentators know the price The IoD is duty-bound to support good to the talent of boardroom editor of a director but not much about the governance practices and we have just Katherine Robinson. The work that goes value of governance. We pay directors to released the Cyber-Risk Practice Guide, into publishing a magazine of this calibre do the right thing, not the commercially to help directors monitor cyber-risk. This is considerable, and it could not go to safe thing, and a good director is worth guide is publicly available from iod.org.nz. print without Katherine’s hard work. 6 | BOARDROOM Update MOVING ON Outstanding The IoD congratulates the following members on these board Business Leaders appointments: The IoD lost three outstanding business leaders recently and we would like to offer our sympathies to their friends David Flacks has been appointed Chartered Member Helen and families. to the board of the New Zealand Robinson has been reappointed Venture Investment Fund Ltd Chair of Network for Learning, Craig Norgate (NZVIF.) while Chartered Member Mark Chartered Fellow Craig Norgate died in London on 7 July, aged Yeoman has been reappointed 50. Craig is probably best remembered as CEO of Fonterra but Deputy Chair. Also reappointed he also headed Kiwi Co-operative Dairies, PGG Wrightson and Chartered Fellow Linda Robertson are Chartered Member Rick Shera Chartered Accountants Australia and New Zealand. Among has been appointed to the board and Members Linda Tame, Martin his many governance roles, he was a director of Port Taranaki, of King Country Energy Ltd and Wylie and Jack Matthews. Sealord Group and the New Zealand Rugby Union. KCE subsidiaries. Sir John Ingram Chris Bishop joins IoD Members Distinguished Fellow Sir John Ingram died in Auckland Elaine Cook and Jeremy Hood Rob Lee and Bennett Medary on on 1 April, aged 90. An engineer, Sir John’s many have been appointed as directors the board of NZTECH. directorships included appointments to the boards of the Southern Dairy Hub. of IBM and the National Bank. He was a pro-chancellor of the University of Auckland, and a president of the Chartered Fellow Graham OTPP New Zealand Forest Auckland Manufacturers’ Association. Crombie has been appointed Investments Ltd has appointed Associate Member of the Sir John Todd Chartered Fellow Jane Taylor and Commerce Commission. Distinguished Fellow Sir John Todd died on 29 July, aged 88. Traci Houpapa to its board as Chairman of his family’s charitable Todd Foundation for 24 directors. years, Sir John will be remembered as one of the country’s Dr Kathie Irwin has been top philanthropists and a leading patron of the arts. reappointed to the Te Wananga Associate Member Richard o Aotearoa Council. Alderton joins the SeaDragon board. IoD BY NUMBERS* Chartered Member Jackie Lloyd has been appointed as a council Chartered Member Bevan Killick member of the combined WelTec FRSA has been appointed to the 674 19 777 Whitireia Polytechnic Council. board of the Royal Society of IoD members mentees in the IoD participated in 2015 Mentoring members Arts, Australia and New Zealand the Directors’ for Diversity under 40 at and reappointed to the board of Sue McCormack has been Fees Survey programme 31 July Southern Response Earthquake reappointed as a member of the Services Ltd.
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