Brad Welsh has built a career defined by reinvention — from child protection officer to political adviser, CEO of Energy Resources of Australia, board member at nib, and now founder of Mawal. In this conversation, Brad reflects on the choices, opportunities and turning points that shaped his path, and how curiosity and ambition have guided every reinvention.

Brad discusses the lessons learned leading ERA through the complex rehabilitation of a major uranium mine, what long-term projects teach leaders about managing risk, and how to balance the expectations of diverse stakeholders. He also shares his powerful vision for the next generation of First Nations leadership in Australia — building capability in capital and risk, broadening pathways into commercial roles, and helping more Indigenous talent step into the boardroom.

Key Themes:

• Career reinvention and ambition — seizing "windows" of opportunity, stepping back to go forward, and using each pivot to build range.

• Curiosity as a governing principle — staying relentlessly curious about how organisations, balance sheets and communities actually work.

• Capital and risk as a global language — why cultures flourish by managing capital and risk in their own way, and what that means for First Nations Australia.

• Long-term rehabilitation, short-term milestones — lessons from ERA's Ranger uranium rehabilitation on balancing horizon goals with near-term delivery.

• Stakeholders and judgement — putting yourself in others' shoes, making decisions with imperfect information, and knowing when to change course.

• The next generation — building a cohort of First Nations leaders for executive and board roles.

Over the holidays, we'll be bringing you some earlier episodes of our Boardroom Confidential podcast.

This time it's Audette Exel, the founder and chair of Adara Group. She's also a former director with Suncorp and Westpac and previously served as Chair of the Bermuda Stock Exchange.

Audette shares the story behind Adara's unique model, which channels profits from corporate advisory work directly into life-saving development programs in some of the world's most remote communities. She reflects candidly on the mistakes she's made along the way, what they taught her, and why boards need to talk more openly about failure.

The conversation also explores governance across complex global organisations, the responsibilities of boards in philanthropy and social impact, and how purpose should sit at the centre of corporate decision-making. Audette offers practical insights for directors seeking to use their influence — and their organisations — to create lasting value for society.

Key Themes

• Purpose-led leadership and social entrepreneurship
• Innovative funding models for not-for-profits
• Governance, risk and accountability across complex global organisations
• Learning from failure and embracing mistakes in leadership
• The role of boards in philanthropy and social licence to operate
• Diversity of thought and values at the board table

Over the holidays, we'll be bringing you some earlier episodes of our Boardroom Confidential podcast.

This time it's David Kirk, the co-founder of listed venture capital fund Bailador and chair at a range of organisations including KMD Brands, Forsyth Barr and KiwiHarvest. David was also the CEO of Fairfax Limited and had an extremely successful career on the sporting field, captaining the mighty All Blacks to victory in the first Rugby World Cup in 1987.

David shares what he's learned moving from executive leadership into chair and portfolio roles, including how to stay focused across competing priorities. He unpacks the chair–CEO relationship: how to be a genuine supporter while maintaining clear accountability, and why trust and expectations matter.

The conversation also explores what high-performing boards look like in practice — from encouraging healthy disagreement to avoiding unhelpful conflict, and the simple disciplines that improve decision-making. David also reflects on growth-stage investing, founder dynamics, and why not-for-profits benefit from a stronger "social venture" approach. Finally, he draws leadership lessons from elite sport — and explains why governance in sporting organisations can go wrong when it becomes too representative.

Key Themes

• The shift from executive leadership to a portfolio of board roles
• What makes a strong chair–CEO partnership (and where it can go wrong)
• How chairs build effective board culture, debate and decision-making
• Practical board discipline: preparation, focus, and "reading the papers"
• Growth-stage investing and governance in tech businesses
• What business can learn from elite sport—and what sport gets wrong in governance