The Report of the NACD Blue Ribbon Commission on Adaptive Governance: Board Oversight of Disruptive Risks
With Commissioners and Northern California Chapter Board Members
Nora Denzel & Ray Rothrock
And Commissioner and NACD Member James Lam
Today’s business environment can be characterized by the acronym VUCA: volatile, uncertain, complex and ambiguous. Organizations of all sizes and sectors are facing an array of risks that can have a significant, and often unexpected, impact on their revenue, profitability, competitive position, strategic direction, or reputation.
Are boards and management teams up to the challenge? According to a recent NACD survey, 62 percent of directors believe disruptive, atypical risks are much more important to the business environment today than they were five years ago. But less than 20 percent express a high degree of confidence in their executive teams’ ability to manage these risks—and nearly three-quarters report their boards may not have the right knowledge and information to provide effective oversight.
Participants will hear from the Blue Ribbon Commissioners and receive a copy of the newly released report.
Director, Ericsson Inc., Advanced Micro Devices, Inc., Talend, NACD Northern California Chapter
Nora M. Denzel is a public board director of Advanced Micro Devices Inc. (AMD), Ericsson and Talend. She heads the compensation committee at AMD and serves on the technology committee of Ericsson. Prior public board service includes Redbox (where she also served as interim CEO), Overland Storage, and Saba Software. She is on the advisory board for BBVA (a global bank based in Spain) and on the board of the NACD Northern California Chapter. Prior to full-time board work, Denzel worked for more than 25 years in the Silicon Valley. Her last position was as the senior vice president of Big Data and Social Product design at Intuit (the makers of TurboTax and Quicken software). She has also held executive-level positions at HP Enterprise and IBM.
James Lam is the president of James Lam & Associates and a director of E*TRADE Financial Corp., where he chairs the risk oversight committee and serves on the audit committee. Lam is also an independent director of RiskLens. He previously served as founder and president of ERisk, partner of Oliver Wyman, chief risk officer of Fidelity Investments, and chief risk officer of GE Capital Markets Services. Lam has been named the inaugural Risk Manager of the Year by the Global Association of Risk Professionals (1997), to the “100 Most Influential People in Finance” by Treasury & Risk magazine (2005, 2006, and 2008), and to the NACD Directorship 100 (2017). He is the author of several best-selling books. Lam’s latest book is Implementing Enterprise Risk Management (2017). In addition to serving on NACD’s faculty, Lam is on the Carnegie Mellon University faculty for their Chief Risk Officer Executive Certification Program. Lam is an NACD Board Leadership Fellow.
CEO and Chair, RedSeal Inc.; Director, NACD Northern California Chapter
Ray Rothrock has three decades of business leadership investing in, advising, and leading many of the technology and cybersecurity companies that form the fabric of today’s network. Presently CEO and chair of cybersecurity analytics company, RedSeal, he is also VC emeritus at Venrock Ventures. He sits on the boards of several U.S. and Israeli cybersecurity companies including Check Point Software Technologies, CTERA Networks, Team8, Appthority, and Shape Security. Rothrock was listed on Forbes Midas List until 2012. He is a former chair of the National Venture Capital Association. Rothrock has provided testimony to the U.S. House of Representatives’ Subcommittee on Energy Committee on Science, Space, and Technology. In 2015, the MIT Corporation elected Rothrock to the Massachusetts Institute of Technology’s board of trustees.