An update from Paul Thompson
In an evolving digital era, how are boardrooms hiring and succession planning?
Earlier this month Azura Search hosted a roundtable in Amsterdam for board level executives based in The Netherlands. The discussion was chaired by Vijay Talwar, European CEO of Footlocker and Peter Rademaker, CFO of S4 Capital. They orchestrated a lively discussion exploring how boardrooms in multinational and scale-up businesses are having to adjust within an evolving digital market.
A key theme that emerged was ensuring businesses have a robust data strategy in order to futureproof the business thus making it more valuable. The attendees felt that often businesses over prioritise data as a strategic point rather than reacting to the data ‘real-time’ to make informed decisions to increase revenue.
The roles of the CEO and CFO were discussed in detail. It was very apparent that regardless of the sector the attendees worked in, digital played a crucial part in helping businesses run more efficiently and help to increase profitability. In order to benefit from the increased use of digital in businesses the structure and capabilities of the management team needs to be assessed. It was questioned whether a Chief Digital Officer is needed or whether businesses would benefit greater if VPs were in place responsible for ecommerce, data and digital marketing instead.
It was identified by the attendees that more junior members of their teams may have greater digital capabilities than their leadership – which lead to an interesting discussion about reverse mentoring in the workplace. It was proposed that the leadership teams could benefit from being mentored by more junior team members with strong digital capabilities.
This roundtable discussion was an excellent opportunity for board level executives to get together to share and challenge their current processes in order to progress their internal strategy discussions.
Thank-you to the co-chairs for navigating such a thought-provoking session!
If you would like to find out more information about Azura Search’s events in The Netherlands please contact Paul Thompson on [email protected].