ICSA annual conference: reflections

I'm seated at Heathrow, homebound after a busy week attending the ICSA: The Governance Institute annual conference in London, and a bevy of other commitments. The following comments reflect on two busy days spent at the ICSA conference. The intention is not to provide comprehensive reportage, but rather to bring forward notable points (from my perspective anyway!). As always, please feel free to get in touch if you have a question or would like more information.

• The conference, held at ExCeL London, was attended by over 700 delegates (a record, I'm told), drawn from the professions of company director; company secretary; executive management; board support services ; and, external consulting/advisory services and providers. 
• Sir David Wootten, former Lord Mayor of London, provided the opening remarks. He reminded delegates of the importance of the role of the board of directors, especially in times of great change. Then, he identified five important factors to be borne in mind when leading change from the 'top', namely, the application of common sense; the impact of unintended consequences; caution in selecting allies; perseverance, to ensure the end is actually achieved; and, standards, as a baseline for performance. Although brief, Wootten's comments provided an excellent foundation for what was to follow.
• The keynote delivered by Lord Owen got under many people's skin, as rightly so. Lord Owen, chairman of the Daedalus Trust, addressed the dangers of hubris—especially but not only in the boardroom. He distinguished between hubris and narcissism (the former a more tenable term), and opined that the personality of CEOs and chairs often change when they take up their roles. An 'intoxication of power' ensues, leading to all sorts of negative consequences. Lord Owen proposed that all CEOs and board chairs should be subjected to a formal review (of their tenure, not only their performance) at least once every five years. He added that the assessment should be conducted by independent assessors.
• My session was well attended (over 140 people in the room). Speaking about strategy and the board's involvement therein, I asserted that the board needs to invest heavily in strategic management if they wish to influence the future performance of the company they govern. I drew on my doctoral research and other sources, including real-life experiences. The positive feedback was both gratifying and humbling.
• Andrew Kakabadse (Henley Business School) delivered a summary of recent research about boards and board effectiveness. He noted that tension is good and conflict is bad. Worryingly, Kakabadse observed that just 33 per cent of all boards were engaged, cohesive and able to reach shared conclusions. (I smiled, Kakabadse's interview-based research findings were consistent with the conclusions to emerge from the direct observations made during my doctoral research.) Kakabadse went on to say that many boards are constrained by dysfunctional relationships, noting that 75 per cent of all chair–chief executive relationships are dysfunctional in some way—scary stuff.
• I also had the opportunity to chat with a few of the exhibitors displaying their wares alongside the sessions. All of the people that I spoke with were passionate about their products and services. However, and disappointingly, many of the software providers present appeared to be still 'stuck' in the mindset of electronic board packs. That an electronic set of board papers can save a director a couple of kilograms is helpful, but what of enhancing the core role of the board—decision-making? When will we start to see cognitive systems that enhance decision-making and board performance?

Overall, the conference provided a valuable forum for company directors, secretaries and others who support the work of boards to learn, compare notes and meet others in similar situations. 

Please contact me if would like more information.