We read a lot about board and selecting a person to be chairman. Board often go to an outside firm and have a long set of boxes to be ticked most of which relate to their qualifications and how well they tick a list of boxes. The Australian Institute of Company Directors puts forward the following parameters when considering new Directors.
There is no absolute list of competencies that apply to all boards. Each board
must review its own special requirements. The competencies required will be
impacted by a number of factors:
• Size of the board - we would hope Anteo would be small
• Committee structure of the board
• Whether the organisation is for-profit, not-for-profit or a government instrumentality
• Size, nature and financial position of the company
• The organisation’s strategy
• Complexity of operations – lines of business, geographic spread of operations, etc
• Shareholder/member structure
• The competencies of senior management - Anteo has a new CEO who has never undertaken such a role before.
• Risks and challenges of the business.
The AICD then points to Integrity, Curiosity and Courage, Interpersonal Skills, Genuine Interest, Instinct, An Active Contributor, Strategic Expertise, Legal, Risk Management, Managing People and achieving change and Industry Knowledge. AICD also emphasis the importance of the CEO Chairman relationship.
Let us trust that the current process is not merely getting an outside firm to go through a box ticking process. Anteo is small, has a new CEO, has not converted research into a commercial product as yet, Suffered because neither GC, RM or any Board members where based in Queensland and could closely manage day to day activities and make the technical group truly accountable so they delivered on the technology.
Stephan is a nice guy with some technical background in batteries and business development. It is essential that Stephan has a good mentor on that has the following background:
. They are based in SE Queensland within easy commuting distance to the office.
. Have a very strong management background in successfully running a business (not just a professional who can tick governance boxes).
. Have a scientific background and have a genuine interest in the Anteo materials science technology.
. Have mentored and grown teams before
. Have strong industry connections either in IVD or Batteries.
. Can communicate and form a strong team with the CEO.
If this is not done then are again put in a no win situation where they again need to look at all options.
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