Directors’ president breaks new ground
"We have responsibility as business leaders. It's more than just financial performance." Liz Coutts
The Institute of Directors’ first female president says the country’s corporate governance has a very good reputation.
But for Liz Coutts, there is also room for it to improve.
Coutts was on Thursday appointed the first female president of the Institute of Directors at its annual meeting in Auckland, replacing Michael Stiassny.
She joins new chief executive Kirsten Patterson, who was appointed in February.
Coutts was made an Officer of the New Zealand Order of Merit in 2016 for her services to governance, and has experience as chair of Oceania Healthcare, Ports of Auckland and Skellerup Holdings, as well as a number of directorships.
Coutts said she was honoured and privileged to be appointed president, a role she described as the epitome for a professional director.
The three key themes for directors were political and economic uncertainty, environmental, social and governance (ESG) reporting, and organisational culture.
‘‘The feedback is, we have responsibility as business leaders.
‘‘It’s more than just financial performance.’’
Coutts said directors were positive on the back of a strong economy over the last few years.
Corporate governance in New Zealand had a very good reputation but there was always room to improve.
The uncertain political and economic landscape was of particular concern for directors.
‘‘We would love to have certainty but we don’t, we live in this very uncertain world and that’s what we have to navigate.
‘‘Predicting the future is very hard, we’re expected to do that.’’
Coutts’ vice president was named as Alan Isaac, the chair of the New Zealand Community Trust and McGrathNicol, as well as a director at various listed companies.
Stiassny said Coutts and Isaac would strengthen the institute and meet the needs of its 8000-plus membership.
‘‘We live in a dynamic and complex world with globalisation and technology reshaping the business landscape.
‘‘I leave the IoD in great heart and am excited about its plans to connect, equip and inspire directors in New Zealand business and society to face the challenges and grasp the opportunities of tomorrow.’’