By Arden Dalik and Aamani Mohamed
Between January 24th and May 16th of 2016, a managing director at Jefferies International Limited shared confidential client information with his peers through the popular instant messaging app, WhatsApp. The intel included but was not limited to the client’s identity, the mandate, and fees Jefferies charged for their involvement in the transaction. Consequently, this director was forced to resign from Jefferies and faced €53,140 in penalty fees.
Every organization has challenges that need to be addressed in order to be successful, yet some should take priority over others. Just like when building a house, a solid foundation must be laid first to ensure all other critical components fall into place. This blog aims to map out how embracing the challenges that come with the people in your organization, the processes put in place, and setting goals on individual and corporate performance can lay a foundation for a fruitful future.
Everything will change. If you come away with anything from this blog, it is an understanding that it is critical that Boards of Directors and Executives understand that to succeed in today’s business environment, they must take a giant leap and embrace the digital transformation. Boards and executives are facing a myriad of challenges and can only successfully address them by leveraging artificial intelligence, data analytics, and digital communications. Everything will change – how board members interact with each other; how they make decisions; how they address issues from governance to corporate social responsibility; how they recruit and retain high performance executive teams; and how they will communicate with both shareholders and stakeholders.
“Shareholders are organizing and mobilizing on new social media platforms like Twitter. This changes the dynamics of shareholder proxy contests to favor small shareholders over management. Disruptive technology may bring about a shareholder revolution, which may not be in all shareholders’ best interests, at least from the perspective of shareholder wealth maximization, and it also has powerful implications for the future of corporate social responsibility.” Seth Oranberg, How Twitter is Disrupting Shareholder Activism
Peter Gillin is a Corporate Director who currently serves on the Boards of several public companies, including: Turquoise Hill Resources Ltd., Sherritt International Corporation, Dundee Precious Metals Inc., TD Mutual Funds Corporate Class Ltd. and Wheaton Precious Metals Inc. He was a Director of HudBay Minerals, Inc., and was Vice Chair of N.M. Rothschild & Sons Canada Limited, an investment bank. Peter was President and CEO of Zemex Corporation and Chairman and CEO of Tahera Diamond Corporation.
Global Governance Advisors (GGA) includes “giving back to our community” as a core value of our corporate culture. The GGA staff identifies meaningful programs and partnerships that empower individuals living with developmental disabilities and youth in under-served communities. Our corporate philanthropy focuses on three areas:
“Given the pace of business change today, companies increasingly need agile boards with the expertise to guide the company amid emerging threats and opportunities. And investors increasingly expect that boards will embrace rigorous practices to ensure they have the right expertise in the boardroom to respond to evolving market and competitive demands. The highest-performing boards will adopt a continuous improvement mindset, ensuring that their composition evolves in light of new strategic imperatives.” AESC.org