Second in a series of interviews with Independent Board Directors

Last month, we were privileged to share Tan Yen Yen’s thoughts and experiences from having been an independent board director across different continents.

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She reminded us of the importance – and the challenges – in determining the specific leadership needs over the next five years and beyond.?She rightfully stressed that succession planning is a key responsibility of leaders.?Yen Yen also highlighted the importance of asking good questions and how one need not be an expert to do so.

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This month, I am again privileged to be able to share insights from another experienced board director who has been assessing people and situations across many different contexts.

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The second in our series of interviews is with Edward Lee, who has board experience in companies such as Indofood Agri Resources, Keppel Land and QAF (among others).?Edward spent many years in the Singapore Foreign Service, serving as High Commissioner to Brunei Darussalam, Ambassador to the Philippines, and Singapore Ambassador to Indonesia.

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Edward was bestowed the Order of Sikatuna, Rank of Datu (Grand Cross) by the Philippine Government in 1993, and the Bintang Jasa Utama (First Class) – the highest civilian honour – by the Indonesian Government in 2007. ?He was also awarded the Public Administration Medal (Silver) in 1996, the Long Service Medal in 1997, the Public Administration Medal (Gold) in 1998 and the Meritorious Service Medal in 2006 by the Singapore Government.

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It gives me great pride to also share that Edward is a fellow Cornell University alumnus.

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Edward’s edited answers to my five questions can be found in a PDF attached.

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Some of the key points:

• Greater diligence observed in ensuring that board candidates are competent
• Robust debate need not be confrontational
• Some board directors might be more reticent than others
• Good chairperson is vital to ensure engagement and debate to achieve better outcomes
• Need for Board to visit facilities, and to ensure the trips are not perfunctory
• Diversity is not “box-ticking” but a committed effort to get expertise to improve the Board

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Edward had stressed during the interview about the need for Boards to secure a good view of operational and reputational risks.?Given the recent developments in the banking sector and the not-yet-reliable results from fast-evolving generative AI tools, this should remind board directors across all sectors to ensure that they address risk management in a robust and comprehensive manner.

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I hope this short read and the brief interview with Edward Lee will prove a good use of your time.