The working population has changed. Therefore, the people running our companies have to change too. A board meeting is not just about looking at the figures and how the company is performing. A board is made up of people – human beings interacting with each other to help steer the company through changing and challenging times. Hiring fellow directors in your own image might seem comfortable, from a “getting on” point of view, but it is not necessarily in the best interests of the company, its stakeholders or its employees. A good board of directors will take time out to examine itself, and to challenge itself to ensure that all the decisions it makes are with an eye to doing what is in the best interest of the company. This is the true meaning of good corporate governance. This includes how other board members are appointed: who should be selected to maximise the operational efficiency of the board whatever their background, gender, colour or religion.
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Its time for New Zealand Companies to shape the future composition of the board by proposing next generation candidates who have the background and experience to move the business in a positive way.