Credit: Dubai
In the era of digital disruption, a board secretary plays an essential role in ensuring the board of directors is efficient and productive, which is of paramount importance to successfully executing a company’s long-term strategic plans. Between handling confidential board documents, scheduling board meetings with directors spread across the globe and sharing agendas and meeting minutes, a secretary should be equipped with the proper tools to safely and efficiently fulfill such responsibilities.
At the Marcus Evans 11th Annual Board Secretary: Innovation Meets Governance in Dubai in mid-April, attendees, ranging in roles from corporate secretary to general counsel to C-suite, gathered to discuss the most prominent topics facing boards, including diversity in the boardroom, an increased risk of cyber threats and an unsettled geopolitical environment, and how technology can help provide solutions.
In recent years, companies have increasingly been looking toward innovations in technology to fuel growth and longevity. Technological advancements, such as artificial intelligence (AI), smart contracts and data-privacy software, as well as regulation, including GDPR, have changed the corporate landscape, meaning companies have to be nimbler and evolve to keep up with industry trends.
Some of the major governance themes that emerged from the conference were embracing environmental, social and governance (ESG) issues, monitoring the regulatory landscape, proactively engaging major shareholders like index funds, reviewing board composition and retirement policies, and assessing the tech readiness of a company.
By infusing new technology into the boardroom, directors better adapt to these matters, becoming more productive by sharing information and insight in real-time. A digital board portal, such as Nasdaq Boardvantage, supports ongoing communication between the corporate secretary, directors and executive team simultaneously via a web browser, tablet app or smartphone app.
During a presentation on “Building the Boardroom of Tomorrow by Nasdaq,” Edward Thomas, AVP of Governance Solutions for Nasdaq Boardvantage, EMEA, outlined four critical requirements for a modern boardroom. Those being efficiency, collaboration, alignment and security.
- EFFICIENCY: A governance framework that establishes and administers the board structure, principles and practices
- COLLABORATION: A secure portal that facilitates collaboration, increased security and ongoing knowledge exchange
- ALIGNMENT: Board and CEO performance evaluations that uncover new ways to better collaborate and develop ideas that improve business performance
- SECURITY: Multi-level security to help protect the confidentiality, integrity and availability of data
- Read: 4 Must-Haves for a Best-in-Class Board
- Read: People, Process, Technology: A Three-Pronged Approach to Cyber Risk Governance
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
