Behind the Numbers: Groupthink – the boardroom’s most pervasive problem?
Description
In this episode of Behind the Numbers, we discuss strategies to prevent and tackle groupthink at board level.
By suppressing debate and disrupting effective decision-making, groupthink poses a significant governance challenge for firms. Notably, the recent scandal over fee transparency at wealth manager St James’s Place – which has set aside £426m for client refunds – has been blamed on groupthink in the boardroom.
Philippa Lamb examines ways forward with Baroness Helena Morrissey, financier and former Non-Executive Director at St James’s Place; Peter van Veen, Director of Corporate Governance and Stewardship at ICAEW; and Kevin Davidson, CEO of executive search and board advisory firm Norman Broadbent.
Links
- Tackling groupthink – why stupid questions don’t exist: https://www.icaew.com/insights/viewpoints-on-the-news/2024/jun-2024/tackling-groupthink-why-stupid-questions-dont-exist
Host
Philippa Lamb
Guests
- Baroness Helena Morrissey, financier
- Peter van Veen, Director, Corporate Governance and Stewardship, ICAEW
- Kevin Davidson, CEO, Norman Broadbent
Producer
Natalie Chisholm
Episode first published: 28 June 2024
Podcast recorded: 21 June 2024
United States
