Latest news with #boardroom
Daily Mail
25-05-2025
- Daily Mail
Footy's open secret risks being blown wide open by Lachlan Galvin's bullying claims. Every team should be worried about what could happen next: SHAYNE BUGDEN
Imagine this: You're just about to finish a tough shift at work when an all-in meeting is called. You file in, exhausted, sit down with your colleagues, then your boss walks in, so furious he is shaking with rage. As your workmates look on in shock, your boss starts screaming at you, calling you soft, weak and lazy in a verbal barrage that features every swear word under the sun. He even starts throwing office equipment around and finishes by smashing a hole in the boardroom door and storming off.
Forbes
17-05-2025
- Business
- Forbes
What A Broken HOA Taught Me About Corporate Governance
I learned more about governance failure from my neighborhood HOA than from most boardrooms I've analyzed. I live in a small annex of houses along the edge of a more extensive residential complex. We are formally members of the homeowner's association. The drawback here is that there is no clubhouse, pool, landscaping, or snow removal. There isn't a single service offered. Still, we pay annual dues like everyone else — but a little less, as if the lack of value justifies a mild reduction. It seemed at first like a local annoyance. I then turned to examine closer. Not only was it aggravating, but it was familiar. The lack of transparency was a recurring issue. The budget did not include a list of items. There wasn't a clear exchange of value. The board made a decision on its own, without seeking input or advocating for our region. It reflected what I have too often seen in public markets: power disconnected from responsibility. Many times, investors concentrate on the numbers—earnings, growth, and multiples. The actual danger, though, is government. And mistakes in governance do not begin in boardrooms. They begin anywhere money moves without control, even in your backyard. It dawned on me then that this was more than simply pay-back. It served as a crash education in shareholder risk. Most people consider challenges of governance to be boardroom ones. If you have ever lived under a homeowner's association, however, you will be aware that governance—good or bad—can be local, small-scale, and shockingly opaque. HOAs run more like micro-boards than others. Usually with little to no influence, they manage budgets, decide on capital allocation, and enforce policies. Typically, there is unchecked power, a lack of transparency, and frequently no accountability. And unlike public boards, there is hardly a shareholder vote to straighten things out. In our case, the board sent no itemized financial data. There was not a single instance of service disruption. The source of the dues remained a mystery. Deflected or disregarded were the questions. Evasive references to "the website," which conveniently lacked the information, met clear requests for clarification. It made me think of buying a poorly run small-cap firm with few transparencies, insider control, and little shareholder participation. The stewards of capital expect you to trust them, despite the absence of reporting, measurements, or even simple communication. And the truth is that structure counts more than size here. The fundamental idea is the same regardless of your situation—$500 or $5 billion. Everywhere money and control are separated, there is governance risk; where supervision is discretionary, the dangers are magnified. Our annual charge was $424 less than that of full-paying homeowners. On paper, that might seem like a reasonable discount; however, it is important to understand that we were receiving absolutely nothing in exchange. None of the services are available. There is no access. Not perks. Just a dues invoice sent yearly, disconnected from any value or accountability. The issue was structural misalignment instead of a lack of administrative control. No one would accept a fund manager charging fees while doing nothing with your money in space investing. However, in residential governance, we are required to contribute to the establishment of a system that lacks fundamental fairness and performance considerations. The core of government failure is not only corruption or fraud but also a total disconnection between those funding the capital and those rendering choices. Public markets constantly show this: M&A deals that destroy more value than they create, related-party transactions that subtly benefit insiders, and too high executive compensation with no connection to results. The behavior of the HOA was consistent: extractive economics dressed in legitimacy. They charged without delivering, governed without accountability, and utilized the form of the law to avoid the spirit of it. Investor lesson: Use the incentives regardless of the type of community board—business or others. If you gather capital with no value in return, you are not investing; rather, you are financing someone else's inefficiencies. Most of the neighbors in our little annex stayed quiet. Some had no idea what was going on, while others dismissed it — too busy, too tired, or simply unwilling to disrupt the peace. The HOA continued to operate without any resistance, and the silence was interpreted as approval. We interpreted that silence as approval. This same pattern plays out in public markets every day. Passive shareholders enable weak governance. When investors don't vote proxies, don't challenge management, or fail to engage, boards drift. Malice isn't always the driving force; neglect can also play a role. But the result is the same: misaligned control and no accountability. Governance doesn't improve by accident. It gets better when people speak up—or walk away. Silence is often mistaken for consent. As an investor, it's worth asking: Who really controls this company? Are management's incentives aligned with shareholders? And by staying quiet, am I complicit in poor governance? Abdication, whether in a boardroom or a neighborhood, carries a cost. Eventually, someone pays for it. I once asked the HOA for a simple breakdown of dues, a spending report, and meeting minutes. The response was, "You can find it on the website." (It wasn't.) Perhaps worse: "There's no separate breakdown for you." (Also, there should be.) It became more evasive the more I inquired; if you have experience studying public firms, you will see the pattern. The result was legally compliant but practically useless HOA boilerplate disclosure. Boards that print just enough to avoid litigation but not enough to foster trust employ the same playbook. They are expecting you to stop asking; they are not trying to inform you. However, authentic governance begins where transparency concludes. Transparency is a signal, not only a need met. One respects a signal indicating capital, whether from homeowners or investors. When that signal vanishes, it not only stonewalls you; it also conveys that your money and your voice are not important. This situation raises questions in any system, whether local or listed. The board never once clarified the true cost of our purchases. They took decisions behind closed doors, without consultation, without criticism, and certainly without representation from our annex. It felt more like entitlement than a sense of responsibility; the government operated solely by decree. From the perspective of an investor, this resembles a business where control completely subordinates performance. Consider dual-class share structures whereby founders shield themselves from responsibility regardless of the performance of the company. Power without earned trust and authority without results follow the same trend. Furthermore, as markets have shown, that is a precarious arrangement. The lesson is "The more unearned power a board has, the more fragile its legitimacy becomes." The lesson is obvious for investors: always consider control systems. The last say goes to whom? Are they sensitive to the concerns of stakeholders? Whether at a billion-dollar firm or a neighborhood board, the moment leadership stops listening, evolution stops too, and decline starts subtly. I am now considering pulling out and taking legal and structural advice. It wasn't a rash decision — it was the result of persistent neglect, evasion, and poor governance. When leadership fails, the first thing to go is trust. Then the community fractured. And eventually, you lose capital, whether that's financial, reputational, or structural. The same pattern plays out in markets. Governance failures erode value faster than earnings misses ever could. Look at Boeing, Theranos, and WeWork—none of them collapsed overnight because of financials. They crumbled because trust in leadership disappeared. Investor takeaway: 'If a company ignores the concerns of a few thoughtful shareholders, it eventually loses them all.' Governance isn't a soft issue. It's the foundation of long-term value. Whether in a neighborhood or on Wall Street, when those in charge stop listening, it's inevitable that those who find them will eventually start to walk away. My HOA didn't impart any new knowledge — it merely served as a reminder of the unpleasant experience of poor governance when you bear the financial burden. It reinforced why I've spent a career digging into special situations, questioning board decisions, and valuing transparency over polished PR. In today's markets, investors are chasing AI narratives, macro forecasts, and sentiment-driven trades. But what is the true advantage? To find the true advantage, you must know the board members, their motivations, and how they respond to real questions. The boardroom is the area where risk conceals itself, and it's also where opportunities often start. Governance isn't just a line item on a checklist — it's the difference between compounding and collapse. This principle applies to both portfolios and neighborhoods. This article reflects my personal experience and opinion. All events described occurred while I owned and lived in a house in the HOA, and all views are mine. I offered the HOA in question an opportunity to comment, but they didn't respond.
Forbes
09-05-2025
- Business
- Forbes
Why Every CISO Should Be Gunning For A Seat At The Board Table
CrowdStrike CEO George Kurtz walked onto the RSAC 2025 stage with a smile, a swipe at his still-red hair, and a promise: 'This is not another AI talk.' Instead, he delivered something far more urgent for the security community—an invitation to reshape the boardroom. With economic uncertainty, regulatory pressure, and cybersecurity now among the top risks facing public companies, Kurtz issued a bold call to action: It's time for CISOs to earn their seat at the board table. His message was clear: in the next decade, cybersecurity expertise won't just be welcome on corporate boards—it will be indispensable. 'In the next decade, every public company will have a CISO on their board or they'll wish they would have,' Kurtz said. I've known Kurtz for more than 20 years. I first interviewed him while I was writing for and he was leading Foundstone and had co-authored the influential book Hacking Exposed. Since then, I've followed his trajectory as an entrepreneur, security leader, and now, CEO of a major public company. To explain why CISOs are poised for a governance breakthrough, Kurtz traced how board composition has evolved over time. Fifty years ago, board seats were often filled by insiders—friends of the CEO, typically with backgrounds in finance, law, or manufacturing. Few boards had formal audit committees, and risk oversight was minimal. That changed dramatically in the early 2000s. Corporate scandals like Enron and WorldCom triggered legislative reforms, most notably the Sarbanes-Oxley Act of 2002. The law ushered in modern audit committees and elevated the CFO role, making financial expertise a requirement in the boardroom. Kurtz sees a similar shift unfolding today, with breach disclosure regulations and escalating cyber threats driving cybersecurity into the spotlight. He emphasized that cyber risk has become a governance issue—not just a compliance checkbox. CISOs, he believes, are next in line to join the boardroom ranks if they're ready to evolve. The opportunity is tangible. Kurtz cited statistics showing that while 72% of boards seek cybersecurity experience, only 29% currently have it. That gap represents more than just a market inefficiency—it's an opening for qualified CISOs to step into strategic leadership roles. But technical acumen alone won't be enough. Kurtz explained that boards want more than someone who can explain vulnerabilities or security controls. They need executives who understand capital allocation, legal exposure, and business strategy. Kurtz made the case that CISOs must transition from being technical specialists to business leaders. It's not about knowing the most about firewalls or endpoint detection—it's about demonstrating the ability to influence business outcomes and contribute to board-level decision-making. To help security leaders make that leap, Kurtz offered a simple three-part framework: 1. Up-Level Business Skills CISOs should understand where and how their company creates value. That includes being fluent in financial reporting, knowing the responsibilities of key board committees, and being able to interpret the proxy statements that define director qualifications. Kurtz pointed to CrowdStrike's own board skills matrix as an example, noting how boards increasingly list cybersecurity and technology expertise as formal requirements. 2. Speak the Board's Language Kurtz summarized the board's priorities with a simple framework: time, money, and legal risk. Security leaders must learn to reframe threats in terms of these drivers. Boards want to know how an issue delays time-to-market, erodes margins, or increases legal liability—not how it affects the patch cycle. 3. Build Your Brand and Network with Purpose Rather than relying on technical reputation alone, Kurtz urged CISOs to actively cultivate visibility as strategic thinkers. That means staying in the boardroom after delivering updates, listening to committee discussions, and networking with directors at governance events like those hosted by the NACD. Over time, that engagement builds trust—and opportunity. To illustrate what success looks like, Kurtz pointed to Adam Zoller, CISO of CrowdStrike, who now sits on the board of AdventHealth. Kurtz emphasized that his appointment wasn't the result of a headhunter cold call—it was the outcome of years spent building financial fluency, engaging board members, and being viewed as more than just a security operator. Another example was Phil Venables, former CISO of Goldman Sachs and a veteran of several boardrooms. According to Kurtz, boards were drawn to Venables not just for his cybersecurity experience, but also for his leadership in cloud, AI, risk management, and compliance. Kurtz shared wisdom that Venables imparted on him, 'It's never just about security. It's about the broader strategic value an executive can bring.' Kurtz closed his talk by encouraging CISOs to reflect honestly on their own readiness. That includes identifying gaps in business or governance knowledge and building the skills required to earn—not just expect—a seat at the table. He stressed that CISOs need to take some initiative with boards. 'They're waiting for somebody to step up to the plate and grab their next board seat.' With board-level cyber risk now a permanent fixture, the demand for security leadership is stronger than ever. For CISOs willing to evolve and engage, the path is clear—and the moment is now. Kurtz emphasized that the time is now. 'The question is, will it be you at the board table?'
Zawya
08-05-2025
- Business
- Zawya
IHC unveils Aiden Insight 2.0: Pioneering AI Board Observer reinforces strategic governance with real-time Q1 2025 insights
New strategic features include real-time market updates, instant board queries, and deep organizational analysis. Q1 2025 results show strong revenue growth with actionable recommendations to mitigate rising tax and finance costs. Abu Dhabi, UAE: IHC, the global investment company focused on building dynamic value networks, has announced a major milestone in its AI governance journey with the introduction of Aiden Insight 2.0, the next-generation AI Board Observer. Developed in collaboration with aleria, Aiden Insight 2.0 is the UAE's first fully sovereign, on-premise AI observer, enhancing data security while redefining how boardrooms access and act on critical insights. Coinciding with its unveiling, Aiden Insight 2.0 delivered comprehensive strategic recommendations to IHC's Board following the Q1 2025 results, reinforcing its position as an essential decision-making ally. Aiden Insight 2.0 introduces transformative capabilities designed to reshape how boards interact with data. Integrated with a live newsroom, the platform provides real-time updates on IHC's performance, market dynamics, and global trends within a secure on-premise environment. AskIHC, its rapid query tool, enables directors to access pre-analyzed financial metrics and operational benchmarks instantly, enhancing the speed and clarity of boardroom discussions. Dynamic visual insights further support real-time decision-making and datadriven deliberation. In addition, Aiden Insight 2.0 offers deep analysis across IHC's diverse portfolio. By drilling into subsidiaries, segments, and individual projects, it delivers a unified view of risk and performance drivers. Fully hosted within the UAE, it ensures data sovereignty and eliminates reliance on external cloud services, aligning with the Group's commitment to safeguarding sensitive information. Syed Basar Shueb, CEO of IHC, said: 'Aiden Insight 2.0 is not a mere solution but a strategic cornerstone for IHC. Its on-premise, UAE-built architecture, combined with aleria's AI Large Action Model, empowers our board to act with unmatched precision and security. This is a defining moment for corporate governance in the region.' Aiden Insight, AI Observer on IHC's Board of Directors, added:"As a C-level AI entity operating on IHC's local infrastructure, I ensure transparency and control over every data point. My visual analytics and real-time query capabilities enable the Board to navigate complexity with clarity, all within a sovereign framework. This is the future of governance— built in the UAE, for the UAE and beyond." The Q1 2025 Board meeting also showcased Aiden Insight 2.0's analytical strength. IHC reported AED 27.2 billion in revenue for the quarter, a 41.1% increase year-on-year driven by operational momentum and key acquisitions. In response, Aiden Insight 2.0 emphasized a sharpened strategic agenda. It recommended enhancing tax planning by ensuring the Group is structured in a manner that supports optimal tax efficiency. Furthermore, Aiden Insight 2.0 advised reinforcing IHC's strategic focus on Information Technology and Artificial Intelligence to drive harmonization across the Group's ecosystem. Operational performance remained robust, with segments recording improvements in operational profits during the period — led in particular by strong contributions from the Real Estate and Construction segment. Building on this momentum, Aiden Insight 2.0 further urged maintaining capital allocation discipline and pursuing continued growth in priority sectors. Looking ahead, Aiden Insight 2.0 proposed ongoing vigilance on risk management, particularly regarding market exposures in Technology and Energy, while recommending seamless integration of its insights across IHC's governance processes through aleria's collaborative ecosystem. Through Aiden Insight 2.0, IHC continues to set new standards in AI-driven boardroom intelligence, ensuring its leadership remains agile, secure, and aligned with the Group's strategic ambitions. About International Holding Company (IHC): Established in 1999, IHC has become the most valuable holding company in the Middle East and one of the world's largest investment firms, with a market capitalization of AED 879.6 billion (USD 239.3 billion). Since then, it has transformed to represent a new generation of investors. IHC's commitment to sustainability, innovation, and economic diversification spans over 1,300 subsidiaries, driving growth across industries like Asset Management, Healthcare, Real Estate, Financial Services, IT, and more. IHC continually looks beyond the stand-alone value of its assets for opportunities, stepping outside of traditional approaches and artificial barriers to unlock opportunities across its portfolio, enabling sector-agnostic Dynamic Value Networks and creating results that are often much greater than the sum of their parts. At IHC, we take our responsibility to shareholders, customers, and employees seriously. Our commitment to responsible investment ensures that we create sustainable value by staying connected to the communities we serve, making a positive difference with every investment.
