£50 – £100

NEDonBoard -NED Good Practice Evening: What to Expect of The NED Role

Event Information

Share this event

Date and Time

Location

Location

Central London

View Map

Friends Who Are Going
Event description

Description

Following consultation with the NED community in putting together a guide for non-executive directors and the companies who use them - this evening is an interactive occasion to further discuss the topic of the NED role, what to expect of it, and best practices within it.

It is also an opportunity to highlight the significant contributions made by Charlotte Morgan, Jos Creese, Mark Cardale, and the NED review committee, for the development of this document, for the benefit of the non-executive community.

Introduction to NEDonBoard's 'What to Expect of The NED Role'

There is growing awareness of the NED role and growing numbers of organisations are appointing NEDs of various types, often titled as ‘trustees’ or ‘governors’ as much as ‘non-executive directors’. For many organisations, large and small, appointing NEDs has now become standard practice. It is no longer limited to very large organisations and there is increasing focus on the professionalism and training of NEDs.

NEDs should make a substantive and measurable contribution to the effectiveness of the board they belong to. A NED is not a consultant or special advisor, but should, within the remit of the role, play a full and active part in helping an organisation to succeed. Irrespective of the skills, experience and contacts that NEDs will bring, they must, above all, provide appropriate independent and constructive challenge.

For appointments to work effectively, both the organisations and the NEDs themselves must understand the purpose of being a NED, within the specific organisation concerned, and what value the NED is expected to bring. This goes beyond statutory requirements. Organisations should not appoint a NED as an alternative to acquiring a contractor, consultant, interim or permanent staff.

The effectiveness of NED appointments, and how these are achieved, will vary considerably between different organisations, depending on their size, sector, business maturity and the nature of the challenges which they face. For example, many smaller organisations are now appointing NEDs to bring in wider experience, in response to complexity of the business and organisational challenges they face.

The role of the NED is also diversifying. In the past, NED positions were typically less varied but, with the pressure on organisations to compete globally, deal with digital transformation and respond to rapidly changing market conditions, new skills are needed at board level. This implies a need to refresh the NED pool, bringing in new external experience and challenge when the company needs it, and adjusting as circumstances change.

Much existing guidance on the role of a NED is considered from the viewpoint of larger organisations with an established tradition of appointing NEDs. We want this guide to be helpful not only to experienced NEDs in large organisations but also the many new NEDs in small organisations, some of whom may not even consider themselves to be NEDs – for example, a trustee to a charity, a long-term advisor to a small business or a college governor.

The internet abounds with information for NEDs in every sector on legal and procedural matters. We have therefore focused less on statutory obligations, and more on the broad mix of behaviours, skills and experience required of an effective NED. This guide is also truly independent, with no allegiance to any specific sector or business sponsor.

Above all, we want to encourage more people to become NEDs and more organisations to appoint them. We see this as mutually beneficial to private businesses, the public sector and to charities and academia. We hope this will support career development of professionals in every sector who could benefit from the valuable experience of taking on a NED role.

.....

Share with friends

Date and Time

Location

Central London

View Map

Save This Event

Event Saved