The Panel and IoB: Boardroom challenges event

On Tuesday 24th of October, The Panel and IoB held their first joint event.

A great turnout at the “Boardroom Challenges: Getting a Seat at the Board Table and What is Concerning Directors Today?” yesterday morning, many thanks to all who made the early morning commute.

The Panel in collaboration with the IoB was delighted to welcome over one hundred C-suite/executive professionals interested in finding out more about the challenges facing directors today.

The event was opened by Evelyn Cregan (Director of Executive Education at the IoB) and was followed by an insightful panel discussion between Clive Bellows, Amy Johnson, Eimear Cowhey and Phelim Keogan, and moderator Anne Keys (Managing Partner, The Panel).

The panel covered a wide range of topics from how to secure your first internal board position both internally and externally, how to plan your move from executive into an iNED role, and the importance of the CIFD or equivalent qualification to show your “statement of intent” to fully understand the serious and responsible role of a NED and iNED. Advice such as joining in-house team committees (product, sustainability etc.) will demonstrate to you senior stakeholders you’re keen to gain wider exposure and experience in areas outside of your day job.

How the importance of due diligence from the iNEDs perspective should match that of the board and how bringing on new board members with diverse experience, will add new eyes and new solutions. They also spoke of challenges boards are facing in the current climate.

The takeaways:

Your attitude and approach is key to the success of your career – hard work, a positive attitude and solutions focused. Take on more senior roles before you are promoted into them!
Become the top talent or rising star in your organization! Top talent get appointed to internal boards positions.
Gain permission of your firm to seek an external iNED role while an executive. Other board opportunities include charity, state, schools and sporting organization firms. It’s great career planning!
Join advisory committees of firms you have an interest in, yes it adds to your daily “to-do” list, but can lead to a board appointment in the future.
Become an expert in an asset class! Boards need experts in their field.
CIFD or equivalent qualification is key to really understanding the iNED role. It’s becoming a must have qualification for executives and iNEDs.
As a new NED or iNED – remember board meetings are minuted so make sure you think before you speak!
Do your due diligence on firms before committing to becoming their iNED.
Stay relevant and on top of topics and issues – seek future educational opportunities, attend events, and use your network!
Skills required for boards in 2023 – diversity, ESG, and Digital/technology.
Governance, ESG, and market volatility are the hot topics discussed at board level currently!
Networking is key to a successful career as an iNED.