Towards a New Model of Boards of Directors
IESE Madrid - April 15, 2024
Since the 2008 big financial crisis, governments around the world have introduced stronger regulation and standards of behavior for board directors and senior managers. Moreover, the number of new codes of corporate governance approved since then has skyrocketed. Despite these efforts, most of the recent corporate crises still have their roots in corporate governance and the decision-making process of the boards.
Adding to this situation, dramatic disruptions of the world economy are placing increasing pressure on boards of directors. Technology transformation, deglobalization, rising geopolitical risks, climate change, social activism and activist investors have coalesced to create unique challenges to companies and society. In this complex context, effective corporate governance becomes essential, not only to protect investors, but to help develop the companies in the long term to create prosperity for many.
The 2024 IESE - ECGI Corporate Governance Conference is designed to reflect upon the recent experiences of boards of directors design and effectiveness, and consider the competencies and capabilities that the boards of directors of the future should have to truly improve the quality of the firm’s governance. In particular, this Conference will focus discussion on the following issues:
- The role of purpose and strategy in the board’s effectiveness
- Board dynamics and the board as an effective team
- Interactions between the board and the firm’s shareholders
- How the board should deal with new disruptive realities such as climate change, digital transformation and geopolitical risks
- The board and the CEO succession process
As in previous IESE - ECGI Corporate Governance Conferences, we would like to count on innovative contributions from leading scholars coming from different fields: strategic management, corporate finance, corporate governance, organizational behavior and leadership. In particular, the cross-sectional nature of boards of directors makes this approach indispensable to make further progress in understanding this critical institution of governance. We also plan to have some CEOs discussing some of the academic papers and their implications in the real world, as well as a panel of chairpersons and CEOs to discuss these issues in depth from a practical perspective.
This in-person, one-day Conference will be held at IESE, Madrid Campus on April 15, 2024.
With the support of the:
MONDAY, APRIL 15, 2024 (Time Zone: CEST)
09:20-09:30 – Welcome and Conference Introduction
- Marco Becht, ECGI
- Jordi Canals, IESE Business School
09:30-10:45 – Session 1
Boards, Purpose and ESG
- Speaker: Ruth Aguilera, Northeastern University
- Discussant: Amir Licht, Reichman University and ECGI
- Moderator: John Almandoz, IESE Business School
11:15-12:30 – Session 2
Boards and CEOs Hiring, Development and Firings
- Speaker: Herminia Ibarra, London Business School
- Discussant: Mireia Giné, IESE Business School
- Moderator: Marta Elvira, IESE Business School
12:45-14:00 – Session 3
Boards and Corporate Strategy
- Speaker: Bruno Cassiman, KU Leuven and IESE Business School; Juan Alcacer, Harvard Business School
- Discussant: to be announced shortly
- Moderator: Africa Ariño, IESE Business School
14:00-15:00 – Lunch
15:15-16:30 – Session 4
Boards of Directors, Board Dynamics and Effective Teams
- Speaker: Anneloes Raes, IESE Business School
- Discussant: Rodolphe Durand, HEC Paris
- Moderator: Govert Vroom, IESE Business School
16:45-18:00 – Session 5
Boards and Shareholders
- Speaker: Luca Enriques, University of Oxford, Faculty of Law
- Discussant: Dionysia Katelouzou, King’s College London
- Moderator: Gaizka Ormazabal, IESE Business School
18:15-19:15 – Session 6
CEOs Panel: The Future of Boards of Directors around the World
- Anne Bouverot, Chairperson of Cellnex
- William Connelly, Chairperson of Amadeus
- Sophie L’ Hélias, President LeaderXXChange
- Risto Siilasmaa, Chairperson of F-Secure, former Chairperson of Nokia
- Moderator: Jordi Canals, IESE Business School
19:15-19:20 – Wrap-Up
20:00-21:30 – Conference Dinner
The IESE Center for Corporate Governance (IESE CCG) aims to advance the theory and practice of corporate governance by promoting evidence-based research, fostering an inter-disciplinary discussion among scholars and experts and helping to create a learning context in which chairs of boards, CEOs, board members, investors and senior executives can reflect on and acquire new frameworks and ideas to improve their firms’ governance. Moreover, IESE CCG approaches corporate governance from a holistic perspective, reflected in the interdisciplinary blend of its faculty team comprised of the following academic areas: Accounting and Control, Economics, Entrepreneurship, Financial Management, Managing People in Organizations, and Strategic Management.
The European Corporate Governance Institute (ECGI) is an international scientific non-profit association which provides a forum for debate and dialogue focusing on major corporate governance and stewardship issues, thereby promoting best practice. It is the home for all those with an interest in corporate governance offering membership categories for academics, practitioners, patrons and institutions. Its primary role is to undertake, commission and disseminate research on corporate governance and stewardship. Based upon impartial and objective research and the collective knowledge and wisdom of its members, it can advise on the formulation of corporate governance policy and development of best practice. In seeking to achieve the aim of improving corporate governance and stewardship, ECGI acts as a focal point for academics working on corporate governance in Europe and elsewhere, encouraging the interaction between the different disciplines, such as economics, law, finance and management.
The Social Trends Institute (STI) is a non-profit international research center dedicated to fostering understanding of globally significant social trends. To this end, STI brings together some of the world’s leading thinkers, taking an interdisciplinary and international approach. Findings are disseminated through scholarly publications.
The individuals and institutions that support STI share a conception of society and the individual that commands a deep respect for the equal dignity of human beings, and for freedom of thought, as well as a strong desire to contribute to social progress and the common good.