Perth Board Lunch: Boardroom Challenges in a Changing Landscape

The event was set against the backdrop of Perth at Wildflower, a perfect setting with a select group of Directors from diverse industries. The topics of discussion focused on the pressing issues dominating Boardrooms today.

Key themes during the conversation included climate change, decarbonisation, energy transition, and the circular economy. These topics were highlighted alongside concerns about the regulatory burden, with the consensus that compliance costs are substantial and growing. It was noted that this increasing regulatory load could stifle innovation and is likely contributing to a decline in IPOs and a rise in delistings.

The discussion also touched on Board composition, emphasising the importance of cultural diversity. Directors expressed the challenges of attracting new Board members, attributing this difficulty to the regulatory complexities. Another point discussed was the contemporary governance practice of separating audit and risk committees to enhance oversight and accountability.

Skills shortages were a recurrent topic, raising questions on how organisations can future-proof their talent pipelines and improve internal mobility and succession planning. In response to these challenges, Odgers Berndtson’s Leadership Advisory team led by Karen Chiew and Charles Baker, in the Asia Pacific region is well-positioned to offer valuable support and solutions.

As we reflect on the discussions from this event, we look forward to our forthcoming Board lunches across Australia, including Melbourne, Sydney and Brisbane. These gatherings promise to continue exploring the critical issues in the boardroom and foster valuable connections along the way.