• Evgeny Shadchnev on Transitioning From Founder to CEO
    Dec 10 2025
    Why has founder CEO succession become one of the most stressful and consequential decisions a board can make?In this episode of The Boardroom Path, host Ralph Grayson speaks with Evgeny Shadchnev, founder of Makers, author of Startup CEO Succession and coach to founder CEOs, about how to navigate leadership transitions when the stakes feel deeply personal and financially critical. Drawing on his own journey from founder CEO to coach, Evgeny explains the crucial shift from building a product to building the company that builds the product, and why behaviours that work in a five‑person team become harmful in a seventy‑person organisation.Against a backdrop of rising CEO turnover even at high‑performing companies, as boards lean into more proactive succession planning rather than waiting for crisis, Evgeny and Ralph explore how boards can spot early warning signs, support founders through burnout and identity shifts, and create a safe, trusted space for honest conversations. From job specs that look ahead to where the “puck” is going, to the pitfalls of rushed transitions and lateral moves into chair roles, this conversation offers a practical roadmap for founders, investors and aspiring NEDs.Evgeny Shadchnev: Evgeny Shadchnev is the founder and former CEO of Makers, one of the UK’s leading coding bootcamps, where he helped tackle the tech talent shortage by training complete beginners to become software developers. After leading Makers through its growth and his own CEO succession, he became a certified professional coach specialising in founder CEO transitions, working with entrepreneurs and boards on the personal and organisational challenges of leadership change. He is the author of Startup CEO Succession: A Founder’s Guide to Leadership Transition and hosts the Startup CEO Succession podcast, where he interviews founders, successor CEOs and investors about real‑world succession stories.Ralph Grayson: Ralph Grayson is a Partner in the Board Practice at Sainty Hird & Partners, bringing extensive experience in board-level recruitment, assessment, and advisory services. With a deep understanding of the corporate governance landscape, Ralph specialises in guiding senior executives as they transition into impactful boardroom careers. His thoughtful approach, combined with a passion for developing effective leaders, enables him to facilitate insightful conversations that equip aspiring and newly appointed Non-Executive Directors with the tools they need to succeed. Through The Boardroom Path, Ralph leverages his extensive professional network and expertise to empower listeners on their journey into the boardroom.Episode Insights:The founder’s job is to keep the company alive and find product–market fit, while the CEO’s job is to build and lead the organisation that builds the product.Behaviours that are life‑saving in a five‑person startup, such as having an opinion on everything, often become micromanagement and a blocker once the team scales.Early, ongoing conversations about the CEO job spec, the company’s future needs and the founder’s preferences reduce the risk of crisis‑driven, rushed transitions.Trust and informal dialogue between founder, chair and investors are as important as formal board meetings in handling succession with maturity and respect.Lateral moves (for example, founder to chair or functional role) only work when the founder is genuinely qualified for the role and willing to get out of the new CEO’s way.Action Points:Clarify the founder vs CEO job over time: Schedule regular discussions between the founder, chair and board about how the CEO role is evolving over the next two to three years. Map what the company will need from its leader, compare that with the founder’s strengths and preferences, and document a living CEO job spec that is revisited annually rather than only in moments of crisis.Normalise early succession conversations: Build CEO succession into the board’s “good hygiene” agenda, alongside cash flow and risk. Treat it as an ongoing strategic topic, not a signal of imminent removal, so that founders can talk openly about burnout, changing life priorities and future roles without fear that one conversation will trigger an immediate process.Invest in trusted relationships on the board: Ensure there is at least one board member – ideally the chair – with whom the founder has a deep, trusted relationship. Encourage informal check‑ins between meetings so concerns about fit, performance or wellbeing surface early and privately, rather than erupting in formal sessions where they are harder to handle constructively.Design the succession process as a shared project: When a CEO transition becomes likely, treat it as a collaboration between outgoing CEO and board. Co‑create the forward‑looking job description, agree who leads the search, and define how the current CEO will contribute without over‑controlling the process. This ...
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    49 mins
  • Are Boards Adding Enough Value? Megan Pantelides on the Evidence
    Dec 3 2025
    What does a high‑value board really look like in a world of scandals, regulation fatigue, and infinite agendas? In this episode of The Boardroom Path, host Ralph Grayson speaks with Board Intelligence’s Megan Pantelides to unpack the mindset, skills, and information boards need to move from box‑ticking to real strategic impact. They explore why critical thinking, curiosity and humility separate effective directors from “back‑seat drivers”, and why great governance is really the discipline of a well‑run company – and economy.Megan shares insights from Board Intelligence’s Board Value Index, where nearly half of directors felt their boards were not adding enough value, and explains how better board packs, sharper questions and continuous development can turn that around. She also reflects on live debates about the UK Corporate Governance Code’s comply‑or‑explain regime, including the FRC’s recent push for more meaningful explanations in its latest Annual Review of Corporate Governance Reporting and the updated guidance on NED remuneration, which gives boards new flexibility while preserving independence.From due diligence tips for aspiring NEDs to practical ways to embed critical thinking across an organisation, this conversation offers a grounded roadmap for anyone serious about a long‑term board career.(00:00) - Welcome to The Boardroom Path (03:00) - From Search to Board Intelligence (04:18) - How Board Intelligence Evolved Its Board Effectiveness Offer (06:30) - What Good Board Packs Look Like Across Sectors (10:30) - Using Board Papers for Due Diligence on a New Board Role (12:45) - Higgs Review, Scandals and the Changing Role of NEDs (15:32) - Comply or Explain, Proxies and the Reality of Governance Codes (18:13) - Is It Worth Being on a Board? Risk, Reward and Scrutiny (21:03) - Certification, Competence and the Mindset of Effective Directors (23:31) - Critical Thinking as a Daily Discipline for Boards and Management (33:36) - The Board Value Index and How Boards Can Add More ValueMegan Pantelides: Megan Pantelides is a Senior Director at Board Intelligence, Europe’s largest board technology and advisory firm, where she leads on research, content, communications and brand development. She writes extensively on board effectiveness, corporate governance, AI, leadership and organisational culture, with work featured in outlets such as the Financial Times, Sunday Times and Governance and Compliance. Drawing on senior roles in executive search and board advisory, Megan helps boards and leadership teams improve the quality of their information, decision‑making and oversight, and has contributed to major initiatives including the Institute of Directors’ 2025 Commission on the evolving role of non‑executive directors.Ralph Grayson: Ralph Grayson is a Partner in the Board Practice at Sainty Hird & Partners, bringing extensive experience in board-level recruitment, assessment, and advisory services. With a deep understanding of the corporate governance landscape, Ralph specialises in guiding senior executives as they transition into impactful boardroom careers. His thoughtful approach, combined with a passion for developing effective leaders, enables him to facilitate insightful conversations that equip aspiring and newly appointed Non-Executive Directors with the tools they need to succeed. Through The Boardroom Path, Ralph leverages his extensive professional network and expertise to empower listeners on their journey into the boardroom.Episode Insights:Board effectiveness is less about heroic individuals and more about disciplined processes, high‑quality information and a culture that welcomes challenge.Critical thinking in the boardroom starts with better questions, not bigger packs: directors need decision‑ready insight, not kitchen‑sink reporting.The best boards blend a common framework – such as Board Intelligence’s question‑driven insight approach – with tailored, sector‑specific nuance.Certification and formal training can signal commitment and humility, but they only add real value when paired with deep experience and ongoing curiosity.Comply‑or‑explain still works when companies use it honestly: recent FRC reviews show that clearer, context‑rich explanations are becoming a marker of good governance rather than a sign of weakness, as highlighted in the FRC’s Annual Review of Corporate Governance Reporting and related analysis in The Accountant.Action Points:Clarify your board value proposition: Define in plain language what you uniquely bring to a board beyond your executive CV. Distil your sector expertise, functional strengths and mindset (for example, growth versus risk focus) into a coherent narrative you can evidence with real situations and outcomes.Use board packs as a due diligence tool: When considering a role, ask for several years of board papers and read them for signals about focus, candour and alignment with strategy. Look ...
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    45 mins
  • The AI Arms Race: What NEDs Must Know About Cyber, Data and AI
    Nov 26 2025
    How should boards really think about cyber and AI when every organisation feels under siege? In this episode of The Boardroom Path, host Ralph Grayson speaks with Danny Lopez, CEO of Glasswall and experienced NED, about why cybersecurity is now the defining risk of our time – and why boards must stop treating it as a narrow IT issue. They explore how to reframe cyber as core to trust, reputation and licence to operate, and why good NEDs do not need to code but do need sharp, strategic questions and real intellectual curiosity. Drawing on recent data showing that over 8 in 10 UK businesses plan to increase cyber budgets next year and that AI‑driven threats are a top concern for European security professionals, Danny explains how boards can move beyond tick‑box compliance into meaningful scenario planning, resilience and culture change. From identifying the “crown jewels” in your data estate to avoiding naive uses of open AI tools for board papers, this conversation offers a practical roadmap for NEDs who want to stay ahead of AI‑enabled threats without losing sight of long‑term growth.(00:00) - Welcome to The Boardroom Path (04:50) - A Non‑Linear Career of Risk and Growth (06:04) - Why Cybersecurity Is the Defining Risk of Our Time (07:06) - Inside Glasswall and File‑Based Threat Protection (08:15) - Breaking into the US Intelligence and Defence Market (10:17) - Cyber on the Board Agenda: Curiosity over Fear (13:25) - AI, Cyber and Risk: Enabler Not Just Threat (15:05) - Crown Jewels, Risk Registers and Better Board Questions (17:03) - Resilience, War‑Gaming and Culture Under Stress (20:28) - A New Geopolitical Paradigm and Swan‑Stacking Boards (24:01) - AI as Burglar and Alarm System in Cybersecurity (31:37) - AI, Governance and Avoiding Groupthink in the BoardroomDanny Lopez: Danny Lopez is the CEO of Glasswall, an award‑winning cybersecurity company that protects organisations against sophisticated file‑based threats using zero‑trust Content Disarm and Reconstruction technology. A former British Consul General in New York and Director‑General for trade and investment across North America, he previously served as the inaugural CEO of London & Partners and held senior international banking roles at Barclays in London, New York, Miami and Mumbai. Danny is a non‑executive director at Innovate Finance and Aquis Stock Exchange and a pro bono adviser to the City of London Corporation, giving him a unique vantage point at the intersection of geopolitics, finance, technology and board‑level risk. Ralph Grayson: Ralph Grayson is a Partner in the Board Practice at Sainty Hird & Partners, bringing extensive experience in board-level recruitment, assessment, and advisory services. With a deep understanding of the corporate governance landscape, Ralph specialises in guiding senior executives as they transition into impactful boardroom careers. His thoughtful approach, combined with a passion for developing effective leaders, enables him to facilitate insightful conversations that equip aspiring and newly appointed Non-Executive Directors with the tools they need to succeed. Through The Boardroom Path, Ralph leverages his extensive professional network and expertise to empower listeners on their journey into the boardroom.Episode Insights:Cybersecurity is not a narrow IT issue but a core risk‑management and trust issue that underpins an organisation’s licence to operate.Boards do not need deep technical skills but must be intellectually curious, ask incisive questions and insist that cyber information is presented in plain, decision‑ready language.Identifying and protecting the “crown jewels” in your digital landscape allows boards to focus spend and oversight where it matters most instead of spreading security budgets thinly across everything.Practical scenario planning and war‑gaming around doomsday‑style incidents build real organisational resilience, clarify roles in a crisis and strengthen culture.AI has become both burglar and alarm system: it dramatically scales attackers’ capabilities, but, when governed well, also enables faster anomaly detection, pattern recognition and defence.Action Points:Define your crown jewels: Map the 5–7% of your data and digital estate without which the organisation would be on its knees. Ask management to quantify the impact of losing those assets and to show how cyber spend is weighted towards protecting them, not just evenly distributed across every system.Make scenario planning non‑negotiable: Schedule regular, realistic cyber incident simulations at board level. Treat them as live rehearsals, not compliance exercises, so everyone understands their role, communications pathways and decision thresholds when a major breach or AI‑enabled attack hits.Reframe cyber as culture, not just controls: Challenge management on how cyber, AI and data risk feature in training, incentives and everyday behaviours. Look for evidence ...
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    49 mins
  • How Great NEDs Think: Lessons in Leadership, Brand and Governance with Robert Senior
    Nov 19 2025
    What does it really take to thrive in the boardroom rather than simply occupy a seat at the table? In this episode of The Boardroom Path, host Ralph Grayson speaks with Rob Senior, former worldwide CEO of Saatchi & Saatchi and now a plural non-executive, investor and advisor. Drawing on a career that spans founding and selling Fallon, leading global creative campaigns, and serving on PLC, private, scale-up and academic boards, Rob offers a candid look at how executives should rethink their move into NED roles.He unpacks the nuanced relationship between boards and CEOs, why the Chair–CEO axis is critical, and how to think clearly about stakeholder trade-offs and personal risk. Rob also explores board composition, fit and personal brand, arguing that “hope is not a strategy” when choosing roles or filling seats. As boards grapple with disruption and new responsibilities, directors are under pressure to raise their game: recent research shows that nearly all boards are experimenting with AI, yet only around one in five has formal AI ethics or risk policies in place. This timely conversation challenges aspiring NEDs to be intellectually honest about their value, motivations and impact.(00:00) - Welcome to The Boardroom Path(01:27) - Robert Senior's Career Journey(04:32) - Insights on Board Dynamics(10:33) - CEO and Board Relationships(14:04) - The Role of a NED(23:48) - Branding and Board Decisions(36:58) - Challenges and Opportunities in Modern BoardsRob Senior: Rob Senior is a non-executive director, investor and advisor known for his leadership in advertising, branding and venture capital. Formerly worldwide CEO of Saatchi & Saatchi, he began his career at TBWA before co-founding Fallon London, helping to create some of the world’s most awarded campaigns for brands including Cadbury, Sony, T-Mobile, Toyota and Visa. Rob later led Saatchi & Saatchi’s London, European and global businesses, championing a “nothing is impossible” culture that combined creative excellence with commercial impact. Since stepping away from full-time executive roles, he has built a plural portfolio spanning PLC, private, scale-up and academic boards. As a partner at Red Rice Ventures, he now backs founder-led consumer and digital businesses, supporting entrepreneurs on brand, growth strategy and leadership. His experience of setting up, buying, selling and closing companies, coupled with his focus on authentic personal branding and board dynamics, underpins a distinctive perspective on where NEDs can genuinely add value.Ralph Grayson: Ralph Grayson is a Partner in the Board Practice at Sainty Hird & Partners, bringing extensive experience in board-level recruitment, assessment, and advisory services. With a deep understanding of the corporate governance landscape, Ralph specialises in guiding senior executives as they transition into impactful boardroom careers. His thoughtful approach, combined with a passion for developing effective leaders, enables him to facilitate insightful conversations that equip aspiring and newly appointed Non-Executive Directors with the tools they need to succeed. Through The Boardroom Path, Ralph leverages his extensive professional network and expertise to empower listeners on their journey into the boardroom.Episode Insights:Why aspiring NEDs must start with intellectual honesty about their “superpower”, ideal board environments and where they are least effective.How the best board members balance accountability without operational responsibility, using “gentle persuasion” and relationships rather than blunt direction.Why fit between individual, board culture and mission often matters more than prestige, sector or headline remuneration.How branding and clarity of purpose help boards distinguish between strategic and purely tactical revenue, shaping better long-term decisions.The behaviours that differentiate high-impact directors – persistent, well-informed questioning and thoughtful preparation – from those who simply “go through the motions”.Action Points:Clarify your boardroom value proposition: Define your core strengths, the contexts where you perform at your best, and situations where you tend to add little value. Turn this into a simple personal “board brief” you can test against any new opportunity, so you only pursue roles where you can be genuinely additive rather than merely decorative.Do rigorous due diligence on every board role: Before accepting a seat, look beyond the brand name and ask hard questions about the organisation’s purpose, strategy, culture and current challenges. Speak to multiple stakeholders, review recent board decisions and consider how you would feel being publicly associated with those choices in five years’ time.Invest in the Chair–NED–CEO relationship: Treat the Chair–CEO axis and broader board dynamics as core to your effectiveness, not background context. Schedule time outside formal meetings to build trust, ...
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    41 mins
  • The Secret Diary of the Boardroom: What Every NED Needs to Know About Governance
    Nov 12 2025
    Is your board truly equipped for effective governance, or are you just checking a box? In this insightful episode, host Ralph Grayson speaks with Erika Eliasson-Norris, Founder & CEO of Beyond Governance and author of The Secret Diary of a Company Secretary, to lift the lid on the guarded realities of boardroom life.Erika, who also serves as the Governance Assessor to the Post Office Horizon IT Inquiry, argues that corporate failure rarely stems from a single event; instead, it's rooted in a culture that undermines governance structures. The conversation explores the pivotal role of the Company Secretary as the quiet conscience of the company, moving beyond a simple legal function to become an editor of focus for the board. They also discuss emerging challenges, like AI in the boardroom, and the need for boards to bridge the 'Agility Gap'—the tendency to be structured for caution over adaptability. (00:00) - Welcome to The Boardroom Path(01:53) - The Secret Diary of a Company Secretary(05:50) - Beyond Governance and CoSec on Demand(10:38) - Evolution of Corporate Governance(12:19) - Challenges in Governance(20:04) - Board Meetings: Best Practices(27:18) - Leadership Lessons and Resilience(33:00) - AI in the Boardroom(38:35) - Career Advice and Final ThoughtsErika Eliasson-Norris: Founder and CEO of Beyond Governance, a consultancy that helps organisations use governance as a strategic advantage. She is the youngest-ever governance executive appointed to a FTSE 250 company, a recognised 'Governance Professional of the Year', and serves as the sole Governance Assessor for the Post Office Horizon IT Public Inquiry. She is also the author of The Secret Diary of a Company Secretary.Ralph Grayson: Ralph Grayson is a Partner in the Board Practice at Sainty Hird & Partners, bringing extensive experience in board-level recruitment, assessment, and advisory services. With a deep understanding of the corporate governance landscape, Ralph specialises in guiding senior executives as they transition into impactful boardroom careers. His thoughtful approach, combined with a passion for developing effective leaders, enables him to facilitate insightful conversations that equip aspiring and newly appointed Non-Executive Directors with the tools they need to succeed. Through The Boardroom Path, Ralph leverages his extensive professional network and expertise to empower listeners on their journey into the boardroom.Episode Insights:Governance has evolved from a box-ticking exercise to encompass culture, behaviours, ESG integration, and a focus on cognitive diversity.The root cause of any corporate scandal or collapse can typically be traced back to the organisation's corporate governance.A Company Secretary's value is in being an "editor of focus," ensuring papers link data to strategy and risk, rather than simply being a scribe of the meeting.The danger of the 'Agility Gap': many boards are structured for caution, but what they truly need is the adaptability to make timely, informed decisions.AI presents an opportunity for faster data analysis, but boards must mitigate the risks of embedded bias and over-reliance that could undermine independent human judgment.Action Points:Reframe the Company Secretary Role: Stop viewing the Company Secretary solely as a legal or compliance function. Recognise them as an essential strategic advisor with a broad, objective view across the entire organisation, positioned to ask the hard questions and hold the 'red lines'. Engage with them proactively for advice on board dynamics and reporting focus, not just process.Audit Your Board Pack for Focus: Assess your board meeting papers to ensure they focus on impact and link data directly to strategy and risk, not just operational detail. Work with your governance professional to cut noise and consolidate information so directors focus on key decisions, risk, and opportunities lost.Challenge Groupthink and Complacency: Actively foster a board culture where individuals feel comfortable speaking "truth to power" and raising problems without fear. Understand that corporate failure is often the result of small, unchecked oversights and poor decisions left unchallenged, which demands vigilance and cognitive diversity.Address the 'Agility Gap': Review your governance frameworks to ensure they support timely, informed decision-making, rather than creating unnecessary bureaucracy structured only for caution. Erika suggests scenario planning to work out what to do before things go wrong, allowing for faster, more confident action when they do.Understand the AI Risk Balance: Recognise AI's potential for efficiency and faster insights, but define a clear set of principles around its use to ensure transparency and accountability. Guard against over-reliance, which can lead to a decline in independent judgment and introduce embedded bias into key decisions.The Boardroom Path is the essential podcast for aspiring and newly appointed Non-Executive ...
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    42 mins
  • Charles Hall on the Public vs. Private Market: An Analyst's Guide for Boards and Founders
    Nov 5 2025
    Is the UK public market truly a dinosaur, or is it on the cusp of a major renewal? In this essential episode for aspiring and newly appointed Non-Executive Directors, host Ralph Grayson is joined by Charles Hall, Head of Research at Peel Hunt. Charles, a leading voice in the market reform debate, delivers a candid and incisive analysis of the forces shaping UK capital markets, critiquing the "erosion of public listings" and the over-reliance on private capital. He argues passionately that public markets are a "public good" that pay more tax and offer "permanent capital". They dissect structural challenges like the growth of passive investment and explore the crucial policy changes needed in pension fund allocation to keep successful, high-growth UK companies listing at home. Despite a recent "shift in sentiment" and strengthening IPO pipeline for 2026, Charles warns the UK cannot be complacent in the fight to retain its leading businesses, noting the "fundamental flaw" that sees the UK export over £1 billion every year in pension capital overseas. This is a must-listen for board members seeking strategic insights on investor engagement, valuations, and the UK’s global competitive position.(00:00) - Welcome to The Boardroom Path(02:55) - Charles Hall's Career Journey(05:06) - Engaging with Investors(08:42) - Peel Hunt's IPO and Corporate Services(11:19) - Global Macro Outlook and UK Strategy(14:03) - Challenges in UK Public Markets(18:14) - The Importance of UK Equity Markets(24:28) - Innovations and Future of UK Capital Markets(35:52) - The Role of Pension Funds and Scale-Up Capital(48:30) - Positivity in the UK Public MarketCharles Hall: Head of Research and an experienced Consumer sector analyst at Peel Hunt, one of the UK's leading investment banks. He leads an operation covering over 400 UK small and mid-cap stocks and is a widely recognised advocate for the revitalisation of UK capital markets and pension reform. He was the top-ranked analyst in the UK Mid & Small cap market overall in the 2021 Institutional Investor (Extel) Survey for the fifth consecutive year.Ralph Grayson: Ralph Grayson is a Partner in the Board Practice at Sainty Hird & Partners, bringing extensive experience in board-level recruitment, assessment, and advisory services. With a deep understanding of the corporate governance landscape, Ralph specialises in guiding senior executives as they transition into impactful boardroom careers. His thoughtful approach, combined with a passion for developing effective leaders, enables him to facilitate insightful conversations that equip aspiring and newly appointed Non-Executive Directors with the tools they need to succeed. Through The Boardroom Path, Ralph leverages his extensive professional network and expertise to empower listeners on their journey into the boardroom.Episode Insights:Analysts possess a deep, privileged pool of knowledge on strategy, competitors, and disruptive technology that boards should tap into, going beyond mere share price maximisation.Public markets are fundamentally beneficial for the UK economy because listed companies pay more tax (corporation tax, dividends, stamp duty) and are held to a high degree of honesty and accountability.A major structural problem is the extensive export of domestic capital via DC pension schemes, which invest predominantly in global, often US-listed, equities, starving growing UK companies of scale-up capital.Listing in the US is "definitively not nirvana"; for most UK companies, they would be "minnows" and would not automatically gain a higher valuation or access to passive fund flows.Public listing provides "permanent capital" that never has to be refinanced or repaid, enabling companies to take a long-term view unmatched by the cyclical nature of private markets.Action Points:Re-evaluate Investor Engagement Strategy: Boards should view their analysts and investors as critical partners who provide robust challenge and market-wide strategic insights, not just capital sources. Schedule formal sessions to tap into analyst knowledge on sector trends and competitor strategy beyond quarterly results.Advocate for Domestic Capital: Engage with policymakers on the urgent need for pension reform that incentivises UK pension funds to allocate more capital domestically, as currently DC schemes allocate less than 5% to UK equities. Highlight why investing in UK growth companies is a "win-win-win" for pensioners, funds, and the UK economy.Scrutinise Private Takeover Offers: When faced with an offer, look beyond the immediate valuation to the underlying cause: poor capital flows and market sentiment. Understand that reversing capital outflows would quickly improve domestic valuations and reduce the perceived "bargain" available to overseas acquirers.Embrace Transparency for Trust: Recognise that the constant scrutiny and glare of publicity from analysts and journalists is a key strength of public markets, creating a "high degree of honesty...
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    57 mins
  • The Scale-Up Capital Crisis: Alasdair Haynes on Why the IPO Process Must Change
    Oct 29 2025
    Is the UK truly "rubbish" at scaling up its most promising companies?Host Ralph Grayson welcomes financial markets trailblazer Alasdair Haynes, founder and now President of Aquis Exchange, for an honest discussion on building and scaling a disruptive business. Alasdair shares his 48-year journey, from City trading floors to successfully exiting Aquis to SIX Group, and provides a firsthand account of the founder-to-President transition. The conversation dissects the critical importance of board evolution and founder succession planning, emphasising that it must be for the "common good" of the company, not a mere "tick box exercise". They dive deep into the urgency of reforming the equity markets to make the IPO process more straightforward, cheaper, and faster for small, growth companies. This push for public market revival is especially relevant as global IPO proceeds surged 89% year-over-year in Q3 2025, demonstrating renewed investor confidence worldwide. Alasdair introduces his "three stages of company growth" model and passionately argues for a governance structure that is proportionate, allowing entrepreneurs to focus 90% of their time on building the business.(00:00) - Introduction to The Boardroom Path(02:51) - Alasdair's Early Career and Lessons Learned(06:15) - The Importance of Board Evolution(08:38) - Mentorship and Board Dynamics(11:12) - Founder Succession Planning(17:17) - The IPO Market and Growth Capital(26:08) - Public vs. Private Boards(38:26) - Final ThoughtsAlasdair Haynes: Founder and President of Aquis Exchange (SIX Group). A visionary financial markets executive with nearly five decades of experience, Alasdair is celebrated for disrupting traditional exchange models, notably by pioneering a subscription-based pricing structure at Aquis. He previously served as CEO of Chi-X Europe and is an inaugural Chair of TheCityUK's Business Council, and sits on the UK FCA's Practitioners' Panel. His expertise lies in championing open, fair, and innovative capital markets and reforming the accessibility of scale-up capital for growth companies.Ralph Grayson: Ralph Grayson is a Partner in the Board Practice at Sainty Hird & Partners, bringing extensive experience in board-level recruitment, assessment, and advisory services. With a deep understanding of the corporate governance landscape, Ralph specialises in guiding senior executives as they transition into impactful boardroom careers. His thoughtful approach, combined with a passion for developing effective leaders, enables him to facilitate insightful conversations that equip aspiring and newly appointed Non-Executive Directors with the tools they need to succeed. Through The Boardroom Path, Ralph leverages his extensive professional network and expertise to empower listeners on their journey into the boardroom.Episode Insights:The essential differences between the board needed for a startup, an IPO, a scale-up, and an acquisition.Why founder-CEO succession is never a tick-box exercise and the two critical reasons a plan is always necessary.How to use psychometric analysis (EQ/IQ) and communication methods to build a stronger board-to-executive relationship.Alasdair Haynes’ 'three school' model for companies and how it applies to the proportionality of governance for different growth stages.The core challenges of the UK’s scale-up capital market and the need for radical change to make IPOs easier and cheaper.Action Points:Evaluate Your Board's Stage-Fit: Review your current board's composition against your company's immediate strategic phase (e.g., startup, scale-up, exit). If your board hasn't evolved with the business, plan a change to ensure you have directors with the necessary expertise, such as acquisition experience for an exit.Implement Proportionate Governance: Challenge the idea that one size fits all for governance. If you are a small company, ensure your governance structure is proportionate to your size and allows management to focus most of their time on the core business rather than excessive compliance reporting.Prioritise the CEO-Chair Relationship: As a founder or CEO, dedicate time to fostering a relationship of deep respect and support with your Chair. This relationship is critical to the company's success; if it breaks down, the company will face significant issues.The Boardroom Path is the essential podcast for aspiring and newly appointed Non-Executive Directors (NEDs) navigating the journey from executive leadership to the boardroom. Hosted by Ralph Grayson, partner at Sainty Hird & Partners, each episode offers insightful conversations with industry leaders, seasoned board directors, and governance experts. Our guests share practical strategies, valuable perspectives, and actionable advice on how to effectively transition into board roles, maximise your impact, and build a rewarding NED career. Subscribe now, and take your first confident step along The Boardroom Path.Learn more about Sainty Hird & Partners at ...
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    42 mins
  • The Helicopter View: Mastering the Executive-to-NED Transition
    Oct 22 2025
    Do you struggle to articulate your value in the boardroom, or feel trapped in the 'executive doer' mindset? Host Ralph Grayson is joined by Fiona Hathorn, CEO of WB Directors (now part of Nurole) and an expert in Governance and Talent Management, to dissect the challenges and strategies for building a thriving Non-Executive Director (NED) career. Fiona shares her personal journey and the mission behind WB Directors, emphasising that you are "never too young, never too old, and never too male" to be on a board.The discussion provides tactical advice, from using the 'seven reasons' to be on a board to understanding the core NED functions of conformance and performance. Critically, Fiona highlights the current board landscape undergoing significant transformation, driven by technology and geopolitical risk. For instance, a recent NACD survey reports that 67% of boards are now actively seeking individuals with specific domain expertise, such as AI or data ethics, rather than just a generalist background. Learn how to elevate your pitch beyond your executive CV, master the art of constructive challenge, and build the right network to secure your seat at the table.(00:00) - Introduction to The Boardroom Path(03:10) - Fiona's Career Journey and Early Influences(05:25) - The Mission and Evolution of Women on Boards(08:03) - Services and Offerings of Women on Boards(13:03) - Joining Forces with Nurole(14:50) - The Importance of Board Experience(18:01) - The Role and Skills of an Effective NED(20:56) - Debunking Boardroom Myths(26:55) - The Current Board Landscape(29:47) - Stakeholder Influence and Transparency(32:34) - Adapting to Technological Changes(38:28) - The Role of AI in Board Decision-Making(43:55) - Building a Successful Board CareerFiona Hathorn: Fiona is the CEO of WB Directors (formerly Women on Boards UK), now part of Nurole, a purpose-led business dedicated to increasing diversity in executive and non-executive leadership. An expert in Governance, Regulation, and Talent Management, she brings over a decade of experience from senior roles in asset management, having run global equities and emerging markets desks. She is also an advisor to Peel Hunt, Chair of the Nominations Committee at Hanx, and serves on the Advisory Board for the Global Institute for Women's Leadership at King's College London.Ralph Grayson: Ralph Grayson is a Partner in the Board Practice at Sainty Hird & Partners, bringing extensive experience in board-level recruitment, assessment, and advisory services. With a deep understanding of the corporate governance landscape, Ralph specialises in guiding senior executives as they transition into impactful boardroom careers. His thoughtful approach, combined with a passion for developing effective leaders, enables him to facilitate insightful conversations that equip aspiring and newly appointed Non-Executive Directors with the tools they need to succeed. Through The Boardroom Path, Ralph leverages his extensive professional network and expertise to empower listeners on their journey into the boardroom.What You’ll Learn in This Episode:The seven essential reasons a non-executive directorship is crucial for career development, viewing it as a mini-MBA.The critical mindset shift from being an executive ‘doer’ to an effective board ‘overseer’ who can scrutinise, challenge, support, and advise.How to build a board value proposition that goes beyond your executive CV by focusing on 'the so what'—the business benefit and outcome of your experience.Current boardroom priorities, including navigating the complexities of AI, geopolitical risk, and the leadership skill required to manage a diverse team in a VUCA environment.Tactical networking strategies, including the importance of developing a clear, third-person pitch, to access the 95% of board roles that are not transparently advertised.Action Points:Define Your Board Value Add: Stop describing your past job titles. Instead, unpack your executive career to identify specific stories where you added value to strategy, risk, or M&A situations. This process helps you create an intentional, compelling narrative that demonstrates your board value beyond operational execution.Master the Helicopter View: The role of a non-executive director is to oversee and not to 'do'—the helicopter should not land. Practice viewing challenges from a strategic, high-level perspective. Focus your contributions on the four core non-executive functions: scrutinise, challenge, support, and advise.Develop a Networking Strategy: Understand that 95% of board roles are not advertised and do not use headhunters. Create a spreadsheet of all former colleagues and connections and develop a proactive strategy to reconnect with them. This consistent, deliberate process is key to building visibility.Focus on Deep Technical Skill and Breadth: While deep technical skill (your 'T') is the reason a board may hire you, your 'breadth and depth' allows you to ...
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    55 mins