Mads Kronborg
Professional chairman of the board
Among other things, Mads M. Kronborg has a board role in r2p Group GmbH, which supplies technology products to the transport industry, a role as a board member in Hartmanns A/S, the geotechnical company Boregruppen and a chairmanship in the investor company Impella Capital. In addition, he is also board chairman of the strategy & board network Crescita Partners.
A short time ago, Mads M. Kronborg participated in the Advanced Board Programme, which takes place at INSEAD – a board program aimed at experienced board members and board chairmen.
– In all the years I worked as a strategy consultant, I was a supplier of strategy work to boards and management boards in larger companies. Subsequently, for the past ten years, I have concentrated on board work – seen from the inside. That’s why I also think it was extremely exciting to get some theoretical and practical perspectives on how to run a board most effectively as chairman of the board, says Mads M. Kronborg about his motivation for participating in the training program.
READ MORE...High tempo, good dialogues and superb facilitation
He describes the Advanced Board Program as a training course that provided some really good advice and a lesson on how effective board chairmen work.
– The program offered new perspectives, fast pace, good dialogues and superb facilitation. The topics that were highlighted were extremely relevant, and I really like the perspective of how a board chairman can be an important contributor with a view to raising the level of the entire board. The professors succeeded on the one hand in learning at a high level of abstraction, but at the same time in a way where it was all very practical in relation to concrete and practical instructions. It was a rewarding combination, says the chairman of the board.
Specifically, he points out three essential key-learnings that he can apply directly in his board roles.
– I have gained new knowledge about how important the role of the board chairman is in order to create an effective board. The whole approach that, as the chairman of the board, you have to hold back a bit and ensure that all the board members are heard and are involved in the decision-making processes, is hugely important. Next, I really enjoyed the topic of leading in uncertain times – with corona, supply crises, high energy prices, interest rates and not least a war – and how to handle all these elements of uncertainty. In conclusion, I would like to highlight Subi Rangan’s session about sustainability and the points he made about how important it is to have an ethical and integrity-based approach to the responsibility we have, not least as companies, in this world.
Better chairman of the board
According to Mads Kronborg, the new knowledge has already made a difference in terms of how he handles his board work.
– I definitely believe that I have become a better chairman of the board, as I have become more aware that it is the chairman who is responsible for the good process. Including the importance of involving the other board members and other of the company’s stakeholders as well as creating good cooperation with the management. Another thing relates to my work on the capital funds’ boards, where you traditionally have relatively small boards. Here, I can largely incorporate elements from good governance and good board practice in relation to how to carry out board work in larger companies, he says, before concluding:
– The course was intensive, but it was surprising how close you got to the other participants – both Danes and Norwegians. I have had several meetings afterwards and also some where there is a good opportunity for us to do something business-wise together. The program offered a good combination of the local and the international, where you both get a local network, but at the same time the international perspective at INSEAD.
Charlotte Bach Thomassen
Chairman of the Board, DGI
Charlotte Bach Thomassen is board chairman of the main board of DGI, deputy chairman of Danske Spil, deputy chairman of Madkulturen, an institution under the Ministry of Food, and board member of TV 2 Danmark – to name just a few. A short time ago, she chose to participate in the Advanced Board Program INSEAD, which is the Scandinavian Executive Institute’s board program for experienced board members and board chairmen.
– I chose this particular program as it hit really well in relation to the inspiration I needed. I have many years of experience with board work, and that is where I spend all my working time. The Advanced Board Program appealed to me as it focuses on the long-term perspective in board work – after all, a board’s responsibility is precisely to look into the future on behalf of the company. The program has a strong focus on the trends in the uncertain world in which we have to operate, and in addition it provides a future perspective with a view to the “board landscape” as well as the roles and responsibilities that a board has – all extremely important perspectives for me, she says.
She highlights the participation in the training program as being a very positive experience.
READ MORE...– The board program offers teaching, presentations and planning from the top shelf, and I was extremely satisfied with the composition, versatility and quality. Both the professional presentations, the discussions, the group assignments and the feedback sessions worked extremely well. There is no doubt that those who organize and deliver the teaching have a strong theoretical and experiential basis to say something about what the direction is and what trends will apply in the future when it comes to board work. There really is a lot of very important inspiration to take away from here, and just the environment on the INSEAD campus is enormously exciting in itself, says Charlotte Bach Thomassen.
Essential points of attention
Specifically, the DGI chairman highlights three concrete key-learnings that she has taken home from the INSEAD program and which have had particular significance.
– As boards, we are naturally very decision-oriented, but we should change our mindset to also focus on making choices. Choices are more abstract and more directional, and that is definitely something I will bring into play going forward. Also the point that we as a board must focus on both competence and behavior and ensure that we have a broader view of recruitment to the board, so that we achieve diversity in terms of competence and experience, was incredibly important. In conclusion, I would like to highlight the topic of how essential it is that we continue to have a strong focus on the digital transformation that we are in the middle of and that we have been in the middle of for many years. The digital transformation is a paradigm shift for all boards, and we should not lose focus on it for a single second, she says and adds:
– All in all, the new inspiration and learning will have an impact on how I prepare my board work and how, via my role as chairman, I spar with the director and the management – not least between board meetings. But also in a future perspective, it will have an impact on what I choose to get involved in and which points of attention I take with me in my future work and into new boards.
From a purely networking perspective, the training program has also been rewarding.
– We were a mixed group of owners, directors, board members and consultants, and for me it is enriching that we represent such a broad palette and that all the participants are such professionally strong and skilled people. We hit each other’s level, and it’s good to know that you have a network you can tap into if you need sparring with like-minded people, concludes the board woman.