WLI Hong Kong:
“View from the Top” with Stacey Martin, Expat Advisors Community
The Women’s Leadership Initiative of the ULI held a discussion meeting with Stacey Martin of Expat Advisors Community as part of its View from the Top series of occasional speakers. The primary topic of the discussion was Women on Boards and Stacey shared her experience of working with Women on Boards in Australia.
The main takeaways from the event were:
- Australia has had great success in the past 10 years in increasing the percentage of women board members from high single digits to high teens, although this has plateaued in recent years.
- Different types of boards have different characteristics – family board often comprise trusted and known advisors to the family, and the long-term goals of the family regarding estate planning are paramount. For listed companies, corporate governance takes precedence as the primary duty of the board is to the shareholders. Family office, start-ups and charitable / sporting boards are often a good starting place to build your board experience.
- Skills required are a general understanding of the business environment of the company and often a specific expertise in accounting, law or the business of the company. Consider where your experience has gaps and consider plugging those with Director or specific skills training. Ensure your CV for board positions reflects your skills and strengths as much as your work experience.
- Consider liability you will have to stakeholders and potential restrictions on your own investments / wealth structuring. Do your DD on the company and ensure there is D&O insurance to cover you.
- Board vacancies don’t tend to be widely publicised, so understand who the stakeholders are and ensure you are networking in the right circles and making your willingness to serve known.
WLI would like to thank Stacey for joining us and Hongkong Land for providing the meeting facility.