Not for Profits recognised at Governance Summit

The role of Not for Profit organisations is not often acknowledged in the wider corporate world, particularly by the leaders of leading ASX companies where profit not purpose is often the goal.

However, many corporate leaders attending the Australian Institute of Company Directors Governance Summit in Melbourne last week were keen to point out the invaluable experience of working on NFP boards.

Notable addresses at the summit included Catherine Livingstone (Chair Pacific National), Scott Perkins (Chair of Woolworths and The Garvan Institute) and Sue Woodward AM, Commissioner, Australian Charities and Not-for-profits Commission.

One corporate chief remarked how NFP boardroom experience had shaped his own journey as a director and helped balance his views on the purpose of the for-profit organisations he has chaired.

The summit covered a range of issues for boards to consider, including the rising threat of cyber security and how to be an effective chair to avoid boardroom dysfunction.

There were also a number of younger directors who spoke of the need for diversity – not only in age, gender or cultural background – to foster critical thinking around the boardroom table.

Chair of Mercy Health, and CHA Board Director Virginia Bourke was a panellist at the summit, discussing how to be an effective Chair.

Chair of Mercy Health Virginia Bourke (second from left) at the Governance Summit.