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    I can happily report we’ve had a record turnout this year, with more than 13,000 directors attending the EDUs in metropolitan and regional centres, writes AICD CEO Mark Rigotti MAICD. 


    I left off the September issue with a preview of the 2024 Essential Director Update. I can happily report we’ve had a record turnout this year, with more than 13,000 directors attending the EDUs in metropolitan and regional centres. The numbers are a testament to your commitment to lifelong learning and staying at the forefront of contemporary governance, as well as to the calibre of these events and the efforts of AICD’s National Events team in putting them together.

    This year’s distinguished EDU presenters — non-executive directors Christine Holman GAICD and Bruce Cowley FAICD — left us in no doubt where our focus needs to be, now and into the future. I’d like to thank them for their commitment and insights. Their presentations have helped lift our gaze and encouraged us not to shy away from the challenges we face on the important issues of culture, CEO succession, cybersecurity, AI and the weight of regulation, including climate reporting.

    Each of these things alone, much less combined, can seem daunting. But the clarity and expertise Christine and Bruce have brought to the discussion are a real eye-opener for how we can navigate these difficult emerging issues.

    Christine told us that all directors and employees will need to invest in AI literacy. Rather than a grand transformational project, she said it’s more about fostering a culture of light-touch research and development across the entire organisation — developing a solid understanding of capabilities and limitations, and the judicious allocation of capital to AI projects. On cyber, Christine reminded us that if we fail to plan, we plan to fail. And on climate reporting, she said the new mandatory standards mean we need to plan for transition — this is now core financial risk management.

    Bruce focused on the importance of building a strong culture. Despite high-profile culture failures, he questioned if enough boards regarded poor culture as a strategic risk and recommended that culture be a regular agenda item. Similarly, he noted a tendency to let succession planning slide, and in light of cases where boards have been forced to let a CEO go early, he recommended preparing for the unexpected. He said it’s necessary to put yourself in the best position to respond effectively, and always have half an eye to CEO succession.

    This also applied to not-for-profits, which Bruce said were being buffeted by many of the same issues as for-profits, but without the time and resources to always deal with them comprehensively. This made it even more important to stay on top of the fundamentals — that good governance, good decision-making and appropriate financial disciplines are essential to navigating the challenges and increased regulatory scrutiny facing the NFP sector.

    Apart from the invaluable insights presenters give us, a further strength of the EDU events is the opportunity they offer to network and build relationships with fellow AICD members.

    Directorship opportunities refresh

    We’ve taken another step in the direction of enhancing member value with a refresh of one of AICD’s most popular offerings. The new Directorship Opportunities platform went live in October and is now available to all members who subscribe to it.

    It’s the top listing platform in the country for board advertisers and board seekers. And with 14,500 members subscribed, we’ve responded to your feedback and made improvements. You’re now able to filter for roles and apply directly within the platform, and there are new, practical resources to assist you in gaining a director position.

    Stretching our ambition with AI fluency

    We’re also piloting an addition to our education offerings, with the new AI Fluency for Directors Sprint (bit.ly/AICDAIFluencySprint). Developed with the University of Sydney Business School, it tailors USyd’s successful C-suite program to a director-focused, peer-to-peer learning deep dive on AI.

    We’re proud to stretch our ambitions for director education with this pilot, continuing to expand our curriculum with clear learning pathways you can access through your AICD membership. I have signed up for this new course and am looking forward to experiencing it.

    This sort of initiative is part of our ongoing objective to provide courses, guidance and resources to keep you at the forefront of effective contemporary governance. We plan to bring forward more of these initiatives and your feedback is always welcome. 

    This article first appeared under the headline 'Lifting Our Gaze' in the November 2024 issue of Company Director magazine. 

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