Gillia n Wilmot Quoted companies Private Equity Owned Privately - - PDF document

Gillia n Wilmot

Quoted companies Private Equity Owned Privately Owned Government Statutory The Industrial Development Advisory Board 3 terms Co rpo ra te Go ve rna nc e fra me wo rk d iffe rs b y jurisd ic tio n & o wne rship struc ture T a iwa n vs US vs UK L a w, Co d e o f pra c tic e (F RC), Ma rke t g uid a nc e Unita ry Bo a rd in T a iwa n & UK Se pa ra tio n o f ro le s o f Cha irma n & CE O

Gillia n Wilmo t

L e g a l Risk of Boa r d Me mbe r & Busine ss Judg e me nt Role

1 Stra te g y 2 Pe o ple , L e a d e rship & Suc c e ssio n Pla nning 3 F ina nc ia l Sta te me nt Ac c ura c y 4 Sta ke ho ld e r E ng a g e me nt Culture o f the Busine ss und e rpins a ll o f the se

Gillia n Wilmo t

L e g a l Risk of Boa r d Me mbe r & Busine ss Judg e me nt Role

L e g a l Risk of Boa r d Me mbe r & Busine ss Judg e me nt Role

Culture & T ra nspa re nc y Dyna mic s o f E xe c utive & Bo a rd F

• c us o n Custo me rs a nd Co lle a g ue s

Suc c e ssio n Pla nning Visib ility o f E xe c utive L e a d e rship Pipe line Me a sure me nt visib le o n Culture , Co lle a g ue s, Custo me rs

Gillia n Wilmo t

Re g ula to ry risk & Ce rta inty Busine ss Cyc le s- By Ge o g ra phy/ E c o no my & Se c to r Und e rsta nd ing the Busine ss b y Ge o g ra phy & Se c to r Ope ra tio na l Insig ht Do wnsid e Risk Sc e na rio Pla nning Ma na g e me nt Info rma tio n & Bo a rd Pa pe rs

Gillia n Wilmo t

L e g a l Risk of Boa r d Me mbe r & Busine ss Judg e me nt Role Ma jor c a se s of fina nc ia l sta te me nt fr a ud

T e sc o plc

L

• nd o n UK

2014 £250m a c c o unting pro b le m L

• st 50% ma rke t va lue in 1 ye a r

“F ind me £30m” 2 sta ff me mb e rs re sig ne d o ve r “d isho ne st a c c o unting ” 3 E xe c utive s o n tria l o ve r a c c o unting sc a nd a l £214 m in fine s a nd c o mpe nsa tio n

Gillia n Wilmo t

Ma jor c a se s of fina nc ia l sta te me nt fr a ud

Ca rillio n plc

L

• nd o n UK

2018 ”la rg e st e ve r tra d ing liq uid a tio n in UK ” “re c kle ssne ss, hub ris & g re e d ” o f Dire c to rs Inve stig a tio ns into insid e r tra d ing , fina nc ia l missta te me nt, a ud ito rs, d ire c to rs a nd UK g o ve rnme nt o ut-so urc ing c o ntra c ts

Gillia n Wilmo t

Ma jor c a se s of fina nc ia l sta te me nt fr a ud

Da nske Ba nk

Co pe nha g e n De nma rk 2018 “Is Mo ne y L a und e ring sc a nd a l a t Da nske Ba nk the la rg e st in histo ry? ” E sto nia so urc e o f suspic io us tra nsa c tio ns T ra nsna tio na l - linke d to 32 c urre nc ie s “L

• nd o n’ s ro le und e r spo tlig ht”

Gillia n Wilmo t

How to Pre ve nt F ina nc ia l Sta te me nt F ra ud

Ope n a nd T ra nspa re nt Culture Culture s a re e mb e d d e d & d iffic ult to c ha ng e Re c ruit & Re ta in fo r Attitud e & Va lue s no t just Skills No t a De mo c ra c y b ut E mpo we ring pe o ple wo rks Re wa rd me c ha nisms re info rc e the c ulture & va lue s Inc lude Re wa rd fo r Be ha vio urs e .g . Co a c hing , T e a mwo rk Me rito c ra c y fo r Suc c e ssio n, Be ha vio ur & Pe rfo rma nc e Visib ility o f Sta ff T urno ve r & Sta ff E xit Inte rvie ws

Culture & Va lue s

Gillia n Wilmo t

How to Pre ve nt F ina nc ia l Sta te me nt F ra ud

Dive rse T e a ms inc lud ing the E xe c utive L e a d e rship & the Bo a rd Dive rsity ma tte rs – L

• we r Risk o f F

a ilure & Be tte r Pe rfo rma nc e Co rpo ra te F a ilure mo re like ly with la c k o f Dive rsity E vid e nc e sho ws Dive rse L e a d e rship De live rs Hig he r Pe rfo rma nc e T

• ke n o ne o r two d o e s no t so lve the la c k o f le a d e rship d ive rsity

Cha irma n, CE O, CF O a re the Po we r L e a d e rship Ro le s

Dive rsity

Gillia n Wilmo t

Boa rd E ffe c tive ne ss Re sourc e s

Inte rna l Bo a rd Re vie ws E xte rna l fo rma l Bo a rd Re vie ws inc lud ing Ob se rva tio n o f a Bo a rd Me e ting a nd Ind ivid ual Co nfid e ntia l Inte rvie ws Go o d Qua lity Bo a rd Pa pe rs with E xe c utive Summa rie s Bo a rd T ra ining a nd “T e a c h ins” b y sub je c t ma tte r e xpe rts Build T rust thro ug h Oppo rtunitie s fo r Info rmal Dia lo g ue Bo a rd Me e ting s he ld a t b usine ss site s b e yo nd HQ Oppo rtunitie s fo r c o nne c tio n a t a ll le ve ls o f Ope ra tio ns Impro mptu site visits a nd c o nve rsa tio ns with sta ff a nd c usto me rs

Gillia n Wilmo t