parc 2019 programme · 4 4 2019 about parc 2019 programme what we do parc promotes challenging...

programme

2019

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Eversheds Sutherland is one of the largest global combinations of law fi rms in the world. It is known for the quality of its legal advice, ability to service complex, multijurisdictional mandates and focus on client service.

The fi rm operates from 66 o� ces across 32 countries in the major fi nancial centres of Europe, the US, the Middle East, Asia and Africa. It is widely recognised as being at the forefront of the centralised multijurisdictional delivery model helping clients realise cost control, consistent quality and transparency of spend.

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2019

Partner

Welcome

2019 Programme

Mercer is one of the world’s leading HR consultancies; they are focussed on enhancing the health, wealth and careers of the 110 million employees of their clients worldwide. They provide enterprise-wide executive and workforce rewards advice that helps companies secure talent, enhance business performance, and stands up to external scrutiny. From a foundation of data they deliver innovative, practical, actionable and relevant insights that help their clients make fact-based decisions with quantifi able outcomes to help their businesses be better every day.

Welcome to the PARC 2019 Programme, which looks forward to another year of high quality and informed research, exchange, comment and debate. PARC continues to be the preferred meeting place for business leaders interested in organisational and individual performance and reward solutions.

2019 will be momentous in terms of the arrangements for the UK’s withdrawal from the European Union, the transitional arrangements accompanying withdrawal, the e� ects these will have on the economy as a whole and our organisations and businesses. Disruption, digitalisation, increasing regulatory pressure and demographics will continue adding to uncertainty and the need for feasible strategies and operational agility in our organisations.

Our Programme refl ects these circumstances and looks to provide members with an informed learning environment underpinned by research papers and case studies, allowing them to decide what will work best for their organisations.

“I always appreciate the approach PARC takes to the research topics, the chance to exchange ideas and share insights through the member meetings and the additional networking opportunities. PARC has given me an exceptional peer network.”Julie Withnall

Group Reward Director, Associated British Foods plc

Meeting Hosts

2019

2019 Programme

2019 Schedule at a glance

Economic Outlook – What Should We Expect, How Will It A� ect Us? Liam Halligan, economist, author, broadcaster

Breakfast Discussion Meeting

Wednesday 30 January

Eversheds Sutherland, 1 Wood Street, London, EC2V 7WS

Reward and Technology

Dr. Nigel Guenole, GoldsmithsStephen Kelly, IBMMargaret Ruiseal, MercerMike Taylor, AstraZeneca

Afternoon Discussion Meeting and Report

Wednesday 13 March


Facing Disruption – Reward Implications

Hugh Mitchell, Formerly Shell InternationalGerry Ledford, Center for E� ective Organizations


Thursday 2 May


PARC Strategic Reward Skills Masterclass

Drew Matthews, BTPhil Wills, PARC

Two-day Residential

Thursday 16 – Friday 17 May

Oakley Court, Windsor Road, Water Oakley, Windsor, SL4 5UR

PARC Member Lunch

Lord Finkelstein OBE, The Times

Lunchtime Discussion Meeting

Thursday 11 July

House of Lords, Westminster, London, SW1A 0PW

Business Performance – The Contributions of Performance Management and Performance Appraisal

Rob Briner, Queen Mary University of LondonDerek Steptoe, WPP

Member Exchange Forum

Thursday 19 September


Speed, Productivity, Agility – Essentials for Tomorrow’s Disruptive Business Environment

Amy Gallo, Harvard Business ReviewAmy Kates, Kates Kesler Organization ConsultingGerry Ledford, Center for E� ective OrganizationsNúria Mas, IESE Business SchoolJoseph Perfetti, speaker, consultantMartin Reeves, BCGProfesssor John Weeks, IMD Business School

Annual International Conference

Monday 7 – Wednesday 9 October

Hotel Sofi a, Plaça de Pius XII, 4, 08028 Barcelona, Spain

Why Has Stewardship Become the Duty of the Shareholders?

George Feiger, Aston Business School


Thursday 17 October


2019 Review and 2020 Programme Launch

Matthew Parris, columnist and observer

Keynote Address and Member Dinner

Wednesday 4 December

Restaurant 34, 34 Grosvenor Square, London, W1K 2HD

“PARC is an incredibly valuable resource for both Reward Directors and Group HRDs. It provides the opportunity to build strong networks and produces high quality, thought-provoking content and excellent training which boost capability and facilitate keeping up to speed with current trends and good practice.”Natasha Dillon

Chief People O� cer, Inmarsat

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About PARC

2019 Programme

What we doPARC promotes challenging research, with expert business and academic input. This, combined with our senior level membership, provides a stimulating and participative environment for those seeking improved corporate performance.

Ours is not a one-size-fi ts-all approach and we recognise we need to contend with tighter legislation and public scrutiny, more forthright and organised shareholder involvement and the need to attract and reward outstanding ability in a global marketplace.

Membership includesAn annual programme of member meetings each addressing relevant and topical issues with expert contributions from business, academia, politics and the media.

PARC research projects draw on a wide range of international resources to provide senior-level discussion documents.

PARC membership constitutes a senior cross-section of HRDs and practitioners a� ording the opportunity of exchanging insights and experiences on a wide range of topics in a relaxed and trusted environment.

PARC responds to requests for information from members by providing member surveys and knowledge sharing.

Places at the Reward Skills Masterclass, our next generation development programme for future reward leaders.

Our post meeting notes capture the essence of content and discussion at our member meetings. This ensures a regular updating of information and the opportunity for the transfer of ideas and information across teams.

Member lunches o� er informal networking which is facilitated through the sharing of experiences and discussion of current issues.

Who should join?PARC is a growing network of over 60 infl uential, global organisations and annual membership is open to those who have an interest in fostering high-performance.

Participants are at senior level and are typically responsible for developing and leading reward and performance strategy, policy and practice. They include Heads of Performance and Reward Functions, Group HR Directors and other top-level HR professionals.

For more information on PARC and how membership can benefi t your organisation please contact Richard Hargreaves, Commercial Director, on +44 (0) 20 3457 2630 or at [email protected].

PARC’s philosophy is based on the belief that successful organisations need:

• to be outward looking and contextually aware in political, economic and social terms

• to implement a compelling andclear business strategy successfully communicated, understood and owned throughout the organisation

• an engaged, capable andmotivated workforce

• an environment which encourages high performance, innovation and the responsible incubation and development of new thinking

• business information systems which provide timely, unambiguous and valid data at all levels of the organisation

• an HR operation which is respected and trusted as an integral and proactive contributor to all aspects of strategic and operational activities.

“PARC is a class act – they run the best networking events combining the latest research, top-drawer speakers, and opportunities for quality discussion with peers.”Natasha Rice

People Director – Performance and Reward, Rolls-Royce

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2019

2019 Programme

Who we are – the PARC team

Mairi Bannon plays a key role in member and partner engagement. She was a co-founder of PARC and Strategic Dimensions and is a Director of Corporate Research Forum (CRF).

Mike Ha� enden works on the design and delivery of the PARC programme and contributes to PARC meetings and research. He was the founder of CRF and joint founder of PARC and Strategic Dimensions. He previously held senior HR and Reward roles in major international organisations.

Richard Hargreaves leads on growing and broadening the membership and is also responsible for securing and developing partnerships. Richard has a similar role at CRF. Previously, Richard led a commercial team at The Economist Group.

Stuart Hetherington is responsible for producing PARC’s annual programme and event materials. He was previously Head of Corporate HR at National Power with extensive responsibility for reward, employee relations and international HRM.

Phil Wills provides expert input to the PARC agenda. He has deep experience in the design of reward plans which support business strategy, including executive incentive plans. Previous roles include Global Head of Compensation and Benefi ts for Reed Elsevier, ICI and Diageo.

Eva John-Lewis organises the logistics of PARC events including member correspondence and event management.

Angela Knight CBE chairs PARC meetings to ensure optimum participation and exchange. She is currently the Senior Independent Director at Brewin Dolphin plc and Tullett Prebon plc, and is a member of the Board of Transport for London and an advisor to Oxera. She was previously the Conservative Member of Parliament for Erewash.

Steven Toft is a writer, business consultant and award-wining blogger, and was previously with the consulting practice of PricewaterhouseCoopers. He has written for The Guardian, The New Statesman and Prospect, and featured on People Management’s list of the Top 20 social media infl uencers.

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2019

Economic Outlook – What Should We Expect, How Will It A� ect Us?

2019 Programme

Breakfast Discussion Meeting

DateWednesday 30 January08.00 – 10.00

VenueEversheds Sutherland1 Wood StreetLondonEC2V 7WS

We enter 2019 after a year of global political uncertainty and economic turbulence with increasing tensions over world trade and the likely form and impact of Brexit. UK base rate has risen for the fi rst time in 10 years, and world stock markets are unpredictable. Productivity remains stubbornly low in the UK and the high street is struggling. So, what is really going on, what should we expect in 2019, how will it a� ect our business environment and in what sort of shape is the UK economy? Liam Halligan will give us his views on what we might expect and why, looking at the way current issues are unfolding in areas including:

• The international economic background – the US, China, Europe and the UK. What are they doing and why; what will be the impact?

• How is the overall level of national, corporate and personal debt going to play out?

• Brexit will happen in March, what will it look like and what will be the immediate and mid/long-term e� ects?

• What are the prospects for UK GDP, balance of payments and overall living standards?

• What is there to be worried about?

With the quickly changing political, social and economic landscape, the unpredictability of world leaders and rise in populist movements, forecasting becomes, on the one hand, evermore di� cult but, on the other, a continuing imperative if we are going to be able to develop coherent business strategies and make sensible operating decisions. Our meeting will be interactive and discursive with views from members informing debate and adding practical evidence to the economic scenarios in which we might all be operating.

Liam Halligan is an economist, author and broadcaster. He is best known for his longstanding weekly ‘Economics Agenda’ column in The Sunday Telegraph and writes regularly for The Spectator. He has given keynote addresses and hosted many conferences for a range of organisations including Thomson Reuters, Deutsche Bank, Adam Smith Conferences and St Petersburg International Economic Forum, the Financial Conduct Authority, Microsoft, and the OECD 50th Anniversary Forum.

Earlier he was Political Correspondent for The Financial Times, wrote for The Economist and was Economics Correspondent at Channel 4 News. He continues to research, write and present widely on radio and television.

Liam holds a 1st from the University of Warwick and an M.Phil from Oxford. He sits on the Advisory Board of the Social Market Foundation, a Westminster-based think-tank and also The Centre for Competitive Advantage in the Global Economy. He is the co-author of Clean Brexit – How to Make a Success of Leaving the European Union – a book described by The Times as ‘highly-influential’

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2019

2019 Programme

Reward and Technology


DateWednesday 13 March16.30 – 19.30


Digital transformation impacts all aspects of the economy and businesses of all sizes with computing advances providing the same digital opportunities to small companies as well as large corporations. Individuals expect the same level of service from their organisations and reward functions as they get on their smart phones – how can we address these expectations and move from the era of computerised payroll systems to an interactive, user friendly and agile service to employees and the business? What are the technical choices available to us in driving forward all aspects of reward strategy, performance management and the wider compensation remit of the future?

We will review the current technology landscape and the dramatic changes of the last few years as a starting point for developing a strategic approach to reward digitalisation and its impact, informed by a report written by David Creelman and Geo� Matthews looking at:

• the big concerns and the big opportunities

• strategic insights and future barriers to progress

• the skill sets required of future reward specialists

• reward technology

• what’s possible now and what will be possible in the short term?

The Report examines the many challenges organisations face while confronting the reality that technology on its own never solves anything – it needs to be understood, harnessed, optimised and discarded in ever shortening cycles, introducing challenges for reward leaders which we have hitherto not faced.

This meeting will address these issues in a compelling way which will help us take stock of our organisations’ preparedness for the changes to be assimilated and managed and the way we go about our business in the coming decade.

Dr. Nigel Guenole is Director of Research at Goldsmiths, University of London, where he teaches courses on leadership, talent acquisition, and statistical modelling. He is also an executive consultant at IBM where his work focuses on developing artifi cial intelligence applications for human resources. Nigel has published extensively in leading scientifi c journals, as well as in the popular press including Harvard Business Review and The Sunday Times. He is co-author of The Power of People: Learn how successful organizations use workforce analytics to improve business performance.

Stephen Kelly has a wide global remit covering all aspects of HR and its contribution to business success in IBM’s Global Business Services. He was previously Chief People O� cer for Logica and then Avanade with responsibility for worldwide HR strategy, culture change and operational e� ectiveness in both roles. Prior to Logica, Stephen was Director of People at the BBC, with responsibility for strategic, operational HR, safety, training and development of 25,000 people in more than 40 countries. Earlier in his career, he was Chief HR and Change O� cer for BT Global Services. Stephen holds an MBA from Loughborough University. He is a member of the CIPD and a Fellow of the Royal Society of Arts.

Margaret Ruiseal leads the European HR Transformation practice at Mercer. With over 20 years’ experience, Margaret possesses a sustained record of leading and implementing major global and international change programmes. She joined Mercer from Barclays where she was responsible for the design and implementation of the change management strategy and plan for the HR Transformation programme globally.

Mike Taylor is VP HR Services and HR Transformation Lead at AstraZeneca and responsible for Global HR Services, serving 60,000 employees. He previously worked in HR roles for BMW, Hewlett Packard and Vodafone, and has held positions spanning the HR function, including Learning and Development, Talent Acquisition, Business Partnering and HR Services, as well as leading Global HR Transformation Programmes.

Clockwise from top left: Dr. Nigel Guenole, Stephen Kelly,

Margaret Ruiseal, Mike Taylor

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Facing Disruption – Reward Implications

2019 Programme


DateThursday 2 May16.30 – 19.30


How are organisations dealing with ongoing disruptions to their business models? How will the relationship between the business and its people and the mutual need for acceptable and progressive reward processes evolve?

Basing our debate around a PARC discussion paper, we shall be analysing the major trends impacting organisations and how they will challenge reward practices. The intention is for this to be a catalyst for reward directors to develop plans to adapt to this evolving environment. Issues include:

• developing and adapting reward values and creative, customised value propositions for key talent, knowledge, peripatetic on-demand and gig workers, an increasing proportion of whom we will have no physical contact with

• social challenges impacting on reward strategies including trust and communication, wealth and pay inequalities and retirement income

• organisational development issues required to support and optimise business e� ectiveness in a disruptive environment – the evolution of the role of the centre or head-o� ce and vertical, top down reward strategies

• an understanding of the changing shape of ‘reward risk’

• the geopolitical context in which we are operating

• the demographic time bomb which will impact pensions and labour supply.

These are critical issues which are at the heart of future reward strategies. We need to understand their impact, the risks they present and the way we navigate them in the coming fi ve years and more. Moreover, we need to start to plan our response.

The paper will be distributed in advance and attendees will be given the opportunity to debate and discuss it to add to the meeting’s content. Three prominent reward specialists will be invited to give their views as to how they will be responding to an uncertain and di� erent future.

Gerry Ledford is Senior Research Scientist at the Center for E� ective Organizations (CEO) and Adjunct Professor at the Marshall School of Business, University of Southern California. In 21 years at CEO, Gerry has conducted research on every major aspect of human resource management and has published 140 articles and 11 books. In the middle of his career, Gerry was a full-time consultant for 14 years, fi rst at Sibson Consulting, where he was Senior Vice President and Practice Leader, and later as President of Ledford Consulting Network LLC.

Hugh Mitchell is the former Chief HR and Corporate O� cer of Shell International. Hugh’s portfolio included global responsibility for HR, Brand and Communications, Real Estate, Health, Security and Shell Aircraft, as well as Regional Oversight for Africa. Hugh is Vice Chair of Edinburgh Business School and a visiting lecturer at LBS. Previously, he was Non Executive Director of Royal Sun Alliance including Chair of the RemCo and has served as a Board member at IMD Lausanne and The Centre for Advanced Human Resources at Cornell.

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2019 Programme

PARC Strategic Reward Skills Masterclass

Two-day Residential

DateThursday 16 – Friday 17 MayDay One: 09.00 – 17.00(followed by dinner)Day Two: 09.00 – 15.00

VenueOakley CourtWindsor RoadWater OakleyWindsorBerkshireSL4 5UR

Following the success and popularity of the three previous PARC Reward Skills Masterclasses, we are including a further, two-day programme in our 2019 schedule.

The PARC Reward Skills Masterclass is aimed at prime succession candidates to current Heads of Reward in major listed companies. The programme is also well suited for aspiring, or newly-promoted corporate HR directors, who need to develop a more strategically focused set of reward skills for their interface role with the Remuneration Committee and Main Board.

Run over two consecutive days, the Masterclass will focus, in particular, on those skills that are most frequently reported by RemCo Chairs as essential to e� ective performance as the Head of Reward or Group HRD in major companies. These skills are set out below – specifi c objectives and key deliverables for each session are available on request.

• The ability to develop a ‘grounded’ reward strategy – aligned with business strategy.

• The ability to review / assess and contribute to RemCo e� ectiveness.

• The ability to review / assess the e� ectiveness of longer-term incentive arrangements – and develop clear alignment to sustainable, long-term performance.

• The ability to design / conduct a risk audit of reward.

Prior to the session, delegates will be asked to review their organisation’s strategic business objectives, including as outlined in the annual report, and to assess the alignment between these objectives and their organisation’s: a) approach to talent strategy; b) reward values and principles; and c) major group-wide reward plans. It is important that anyone nominated to attend the programme will have the opportunity to discuss this in advance with relevant members of senior management and, under the guidance of the PARC member, will be set clear actionable objectives linked to the programme deliverables.

Our masterclass is an ideal learning, networking and skills development opportunity for your most able next generation reward and HR leaders.

This practical programme is available to one nominee from each PARC member as part of the annual subscription, with an additional charge for accommodation. Extra places may become available at a cost of £1,000 per person.

Phil Wills provides expert input to the PARC agenda. He has deep experience in the design of reward plans which support business strategy including executive incentive plans. An independent consultant, currently advising UK and mainland European companies, his previous roles include Global Head of Reward for Reed Elsevier, ICI and Diageo.

Drew Matthews is Global Compensation and Benefi ts Director for BT. Previously, Drew was a Partner at Aon Hewitt New Bridge Street, most recently Head of Reward at Micro Focus and also formerly Personnel Director at Tesco where he was accountable for reward, global mobility, share schemes, and occupational health and wellbeing for over 500,000 employees in 14 countries.

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PARC Member Lunch

2019 Programme

Lunchtime Discussion Meeting

DateThursday 11 July12.00 – 15.00

VenueHouse of LordsWestminsterLondonSW1A 0PW

We are returning to Westminster for our Members’ Lunch which this year will be in The House of Lords’ Dining Room. Our host will be Lord Finkelstein of Pinner, OBE. A journalist, observer, political confi dante and football pundit, the former Danny Finkelstein was previously the Chief Leader Writer of The Times amongst a wide range of journalistic appointments.

The imposing venue and centre of formal and informal political activity coupled with the insights of our host are bound to make this an informative occasion. Speculation as to what might be the hot topics in July 2019 is pointless but undoubtedly Lord Finkelstein will tease them out and give us his views as to how they might a� ect us and our various organisations.

There are a number of protocols to be observed before entering the Palace of Westminster. Early notifi cation of the event and requirements will enable you to respond promptly, ensuring you are able to join us. Numbers will of necessity be limited.

Ample time will be given for Q&A and networking.

Lord Finkelstein OBE is a former politician who is currently Associate Editor of The Times, their Chief Leader Writer and a weekly political columnist. Before joining The Times in 2001, he was adviser to Prime Minister John Major. Earlier, he had been a member of the SDP.

He graduated from the LSE and is a former Director of the think-tank Social Market Foundation, as well as the Conservative Research Department. He was political adviser to the Leader of the Opposition, William Hague, and co-secretary to the Shadow Cabinet. He is the chairman of Policy Exchange and his blog, Comment Central is a personal round up of the best political opinion on the web.

A prominent media commentator, well known for his regular appearances on Newsnight’s political panel, he expertly provides tour d’horizon of the current political scene.

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2019 Programme

Business Performance – The Contributions of Performance Management and Performance Appraisal

Member Exchange Forum

DateThursday 19 September16.30 – 19.30


Three years ago, PARC reviewed the broad topic of performance management and attempted a defi nition of organisational performance. We inevitably strayed into the topics of performance appraisal and other popular HR tools and techniques but didn’t have any defi nitive conclusions.

The model we defi ned at the time seemed to strike a chord but needs further exploration.

Since that meeting, and indeed at further PARC meetings, the question of performance management and performance appraisal has again raised its head with the view that not much has improved despite much discussion and technological advances. The questions remain “are we trying to improve the unimprovable? Are our scarce resources directed at the wrong target?”

In this PARC meeting we will:

• revisit the PARC model examining strategic direction, the need for a high-performance culture, highly competent and focused people and strong feedback loops

• examine the role of performance appraisal looking at the challenges organisations and managers face in trying to make this concept work. As part of this we will consider the latest research fi ndings and changes to practices and whether any discernible progress has ensued.

Phil Wills and Mike Ha� enden will set the scene and Professor Rob Briner will present the latest research and evidence.

Steven Toft will write a research paper which will be circulated before the event. He will be advised by, amongst others, Professor Rob Briner from the University of London and Derek Steptoe from WPP.

Rob Briner is Professor of Organisational Psychology at Queen Mary University of London. He previously held the same position at the School of Management, University of Bath and has also worked at Birkbeck College, University of London. His publishing and research have focused on several topics including wellbeing, emotions, stress, motivation and everyday work behaviour.

Derek Steptoe is the Worldwide Compensation & Benefi ts Director of WPP, a role he has held since 2010. WPP is the largest global advertising and media company with in excess of 130,000 employees and located in more than 115 countries. Vastly experienced in all aspects of compensation and benefi ts strategy and delivery, Derek held previous senior level appointments with BHP Billiton and Vodafone.

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Speed, Productivity, Agility – Essentials for Tomorrow’s Disruptive Business Environment

2019 Programme

Annual International Conference

DateMonday 7 – Wednesday 9 October

VenueHotel Sofi aPlaça de Pius XII, 4, 08028 BarcelonaSpain

The fundamental concept is cycle-time reduction. What is that to do with people management? Everything.

What will di� erentiate the successful organisations of tomorrow and how should they be preparing to get a head start? By taking a multi-faceted view of the drivers of organisation performance, we will challenge delegates to be radical and imaginative in developing strategies to execute the personal and organisational transformations essential for business continuity.

Led by an expert panel of speakers, we will address the fundamentals of speed, productivity and agility and how they can help us shape our responses to changes in our organisational environments.

• The disruptors of the global economy are characterised by a single factor – speed. This includes not only speed of thought and action but also speed in turning a profi t.

• Underpinning the issues of speed and productivity are technological factors such as automation and artifi cial intelligence. How do we prepare for a future which best combines human and technological potential?

• How do we create an agile organisation which rewards the development of new capabilities while optimising the core business?

• How do we design jobs and create high-performing collaborative and integrated teams to attract and retain the digital talent we need?

• What do reward models look like in a world where individual contributions are overtaken by step technology changes and the increasing impact of AI?

• What does all this mean for the culture of the organisation and its internal and external stakeholders?

The combination of stimulating, provocative content delivered in an interactive format with facilitated networking makes this the premier people management conference in Europe.

Amy Gallo is a contributing editor at Harvard Business Review. She is the author of the HBR Guide to Dealing with Confl ict, a how-to guidebook for navigating uncomfortable situations at work. In addition, she has contributed to numerous books on feedback, emotional intelligence, and managing others, and is the co-author of the HBR Guide to Building Your Business Case.

Amy Kates is an organisation designer and Managing Partner at Kates Kesler Consulting. She advises business leaders worldwide and teaches extensively. She is a visiting Fellow to the government of Singapore and has written books on the topic of organisation design with Greg Kesler and Jay Galbraith.

Gerry Ledford is Senior Research Scientist at the Center for E� ective Organizations (CEO) and Adjunct Professor at the Marshall School of Business. Formerly with Sibson Consulting, he later became President of Ledford Consulting Network LLC.

Núria Mas is Professor and Head of the Economics Department at IESE Business School. She holds a PhD in Economics from Harvard and a BA in Economics from Universitat Pompeu Fabra. Before joining IESE, Núria worked as an associate at Lehman Brothers.

Joseph Perfetti is an executive speaker, consultant and expert in corporate finance and strategy. He has worked with organisations including McKinsey, Google, Santander, Standard Chartered, Merck and Nokia. Joe currently lectures at the RH Smith School of Business at the University of Maryland.

Martin Reeves is a Senior Partner at BCG and Global Director of the BCG Henderson Institute. He currently leads research on the science of change, technology & strategy, business & society, and the humanity of business. He also authored the book Your Strategy Needs a Strategy.

Professor John Weeks specialises in issues of organisational culture, leadership and change. In his book, Unpopular Culture, and in his articles and case studies, his focus is on the dynamics of culture and leadership. John spent 11 years at INSEAD. He holds a PhD from MIT Sloan, an M.Phil from Oxford, and a BA from the University of California.

Clockwise from top right: Amy Gallo, Amy Kates, Gerry Ledford,

Núria Mas, Joseph Perfetti, Martin Reeves, Professor John Weeks

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2019 Programme

Why Has Stewardship Become the Duty of the Shareholders?


DateThursday 17 October16.30 – 19.30


The FRC wants shareholders to act as ‘stewards’ of companies to guard against corporate excess and sudden collapse. Let’s face it, they’ve already tried independent NED’s, RemCos, audit committees and now auditors too.

The Stewardship Code, fi rst published in 2010, is aimed at institutional investors but marks a shift in the role and expectations of shareholders generally. Those who invest in companies are now expected to take a more active interest in their long-term survival and behaviour as good corporate citizens.

But what does this form of ‘stewardship’ involve?

• Is the role of the investment manager to protect the fi nancial position of the (underlying) asset owners or to nurture and support the good management of the companies in which they invest?

• Who are the ‘shareholders’ anyway? Just as there is a separation of ownership and control between shareholders and company managers, there is now a separation between those who own shares and those who manage them on behalf of investors.

• In 1963, individual investors owned 54% of UK fi rms. That fi gure is now around 12%. Can we really expect large organisations with diverse international portfolios to take an active interest in the governance of individual companies?

These are some of the themes which emerged from our Corporate Governance meeting in March 2018. We will now look at the question of governance from the perspective of shareholders rather than directors. With the benefi t of the accompanying PARC report, we will explore the developing concept of stewardship and consider the changing nature of share ownership over recent decades. In doing so we will examine whether and how far the various types of shareholder can reasonably be expected to meet the high standards of stewardship they have been set and what this means for companies and investors in the future.

Professor George Feiger from Aston University Business School will chair the meeting which will include contributions from an expert panel.

George Feiger has been the Executive Dean of Aston Business School since June 2013, returning to the academic world, in which he began his professional career. From 2003 to 2013 George was the founder and CEO of Contango Capital Advisors, a wealth management fi rm in San Francisco. George has also been a Director of McKinsey & Co, working in the US and the UK, the Global Head of Investment Banking for SBC Warburg, the Global Head of Onshore Private Banking for Swiss Bank Corporation and then for UBS and a member of the Group Management Boards of both companies. He has also been involved in a variety of venture capital activities.

George has been a frequent commentator on economic and fi nancial topics in a variety of media and was a Lecturer in Economics at Harvard and then Assistant and Associate Professor of Finance at the Stanford Graduate School of Business. He holds a B.Econ (Hons) from Monash University and a PhD in Economics from Harvard University. He was also a Junior Fellow in the Society of Fellows at Harvard.

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2019 Review and 2020 Programme Launch

2019 Programme

Keynote Address and Member Dinner

DateWednesday 4 December18.30 – 22.00

VenueRestaurant 3434 Grosvenor SquareLondonW1K 2HD

Our 2019 programme will conclude with dinner and a review of the year and its events and a glimpse of what 2020 might have in store. We will look back on a wide range of events – political, economic and social all of which will have impacted the business context.

Our guest will be the former MP, columnist and reviewer Matthew Parris who in his distinctive way will pick out the signifi cant events of 2019 and share with us his predictions, thoughts, hopes and fears for 2020.

This stimulating, thought provoking and always enjoyable dinner meeting will also see the launch of the PARC 2020 Programme.

Ample time will be given for Q&A and networking.

Matthew Parris worked for the Foreign O� ce and the Conservative Research Department before serving as MP for West Derbyshire. He joined The Times as parliamentary sketchwriter in 1988, a post he held for 13 years. An award-winning columnist, he now writes two weekly columns for the paper and most recently, in 2015, won the British Press Award for Political Journalist of the Year. He broadcasts for radio and television, and presents the biographical programme Great Lives on BBC Radio 4. He is also a regular columnist for The Spectator. Matthew won the Orwell Prize for his acclaimed autobiography, Chance Witness, published in 2002.

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2019 Programme

Our Associates

Corporate Research Forum www.crforum.co.uk

Main contact: Richard Hargreaves, Commercial Director

Email: [email protected]

Tel: +44 (0) 20 3457 2640 • Mobile: +44 (0) 7787 411 572

Founded in 1994, Corporate Research Forum (CRF) is a membership organisation whose international focus is on research, discussion and the practical application of contemporary topics arising from people management, learning and organisation development. CRF’s purpose is to increase the e� ectiveness of the HR function, in order to drive sustained organisational performance, through developing the capability of HR professionals. CRF has become a highly infl uential focal point, knowledge source and network for over 210 member organisations representing a cross-section of private and public sector organisations.

Strategic Dimensions www.strategic-dimensions.co.uk

Main contact: Dan Caro, Senior Director


Tel: +44 (0) 20 3457 2650 • Mobile: +44 (0) 7977 590 242

Established in 1994, Strategic Dimensions (SD) is an independent search boutique with an unrivalled network. SD identify, engage, and understand the talent clients’ require to meet both present and future needs. Holding the principle that good people know good people, SD’s extensive and continually evolving networks within the international HR, broader business, and academic communities are integral to success in completing projects. SD perform by exploring and understanding requirements plus taking time to assess culture, organisational context and the commercial requirements of a new hire.

CRF Learning www.crforum.co.uk/crf-learning

Main contact: Richard Hargreaves, Commercial Director


Tel: +44 (0) 20 3457 2640 • Mobile: +44 (0) 7787 411 572

CRF Learning builds on CRF’s unique blend of research and practical experience to deliver leading edge development for the HR profession. The suite of open programmes engages specifi c HR communities to improve their e� ectiveness in impacting their organisational performance. The annual programme of learning is complemented by custom programmes through the design and delivery of tailored solutions.

Southside 105 Victoria Street London SW1E 6QT United Kingdom Tel: +44 (0) 20 3457 2630 [email protected] www.parcentre.com

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