3 October 2018 · 3 min read
Ankie Hvittfeldt has worked as a professional board director for eight years. She is active in owner-led, state-owned and listed companies, as well as a state enterprise. Integrity, courage and the ability to collaborate are her most valuable qualities as a board chair and member.
Ankie turns the agenda upside down!
You serve on the boards of both listed and unlisted companies, and on two state-owned companies as well. Are there big differences in how the work is done?
The way of working is fairly similar across the companies. The big difference is the volume of reports and analyses, which is naturally greater and more extensive in a listed environment.
How big are the boards, and how many meetings do you have per year?
In most boards there are five of us, and in the companies with employee representatives we are 7–9 people at the meetings. On average we have 8 in-person meetings per year, complemented by a number of shorter phone meetings.
When do you feel that board work is working really well?
When we are a tight group that can hold a clear and open dialogue and where everyone contributes with strong commitment. In those cases the owners have put great care into composing the board and, beyond competence criteria, also considered the ability to collaborate. Good board work requires courage and integrity from each individual, but also genuine trust in one another.
What are the hottest topics on the board agenda right now?
One issue that is highly relevant and shared across all my engagements is talent supply. It hasn’t been on the agenda in the same way before. Following up on growth targets is also very topical, perhaps because many sense an approaching economic downturn. Digitalisation is, of course, an important question that calls for analysis and discussion throughout the business, not least when it comes to new business opportunities.
What are your three best tips for getting the most useful, value-creating work out of the board?
In some of the companies I have turned the agenda upside down. We start with a follow-up on the company’s strategic direction, what is happening in the wider world, and whether we need to adjust anything. The reporting items we take last in the meeting. I think it is important to spend plenty of time on monitoring the wider environment and to bring strong drive and commitment to the future-facing questions. Here the board needs to work more closely with management. So, in summary: 1. Turn the agenda upside down and focus on following up the strategy, 2. understand the world the company operates in, and 3. strengthen the focus on the future through a structured exchange with the business.
