In the review, PZ Cussons’ board benefited from BoardClic’s intuitive review platform with Board Intelligence’s expertise in driving high-impact governance through business reporting. External expert Alison Purdue and BoardClic co-founder Malin Lombardi provided keen strategic oversight.
PZ Cussons Chairman David Tyler appreciated the flexibility of BoardClic’s platform, which allowed him to select questions from a broad suite of topics to tailor to his board’s individual needs. All in all, the process took a handful of weeks, rather than the number of months which would be typical for traditional reviews.
”As a result of the process with its wide focus, we now have tighter governance of risk and enhanced relationships around the board table,” says Tyler.
Pioneering alliance with board itelligence
After PZ Cussons’ directors used BoardClic’s review platform, Lombardi and Purdue analysed the results. Purdue is a member of BoardClic’s global network of board advisory experts, while Lombardi functioned as the assignment’s international expert. To complement the review, Board Intelligence benchmarked PZ Cussons’ board and executive committee materials, strategy documents and meeting agendas to highlight strengths and development areas. The results were used as a basis for one-on-one interviews with the board directors. Then, the compiled results powered discussions in the board and formed the basis of an action list.
Finally, Purdue and Lombardi provided input for the written board performance review that PZ Cussons presented in its annual report. This collaboration is the first to stem from BoardClic’s UK alliance with Board Intelligence, the leading board portal and AI-powered report-writing software provider.
So how did this combination of collaborative expertise perform for PZ Cussons, which has created products to delight, care for and nourish consumers for more than 130 years? Well, two of the words that first came to mind to Tyler about the process were, “seamless and efficient.”
According to Tyler, each partner brought something pivotal to the table, crafting a solid, reliable framework that he doesn’t hesitate to recommend to other FTSE 250 companies.
“At the final meeting, I think directors felt empowered to speak openly and directly about relationships,” says Tyler. “Some of the points made might have been tough for others to hear. And the result of that was a greater understanding of each other and more open relationships around the board table.”
Tyler thoroughly appreciates BoardClic’s comprehensive, dynamic platform, which allowed PZ Cussons to craft a comprehensive review. Similar reviews set for next year and 2025 promise an easy and insightful comparison of scores over time. He also praised the platform’s user-friendliness, which provided easy access across various digital devices. This feature distinctly sets BoardClic apart from peers and makes the review process both smooth and compelling.
With a successful precedent set, BoardClic and its partners are now poised to redefine external board reviews for many more UK listed companies.
11 January 2024
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