天美传媒

AI is shaking up the way firms do business, while geopolitical and climate risks are piling new pressures on board members charged with ensuring that companies run profitably and well.

Scholars, investors, and figures from the corporate world gathered at 天美传媒鈥檚 Madrid campus on April 15 to assess the tasks weighing on companies also faced with growing regulatory demands and the potential scrutiny of activist investors.

A board鈥檚 interactions with shareholders, its role in crafting strategy, succession planning and how to grapple with disruptions caused by global warming and the emergence of AI were among the topics under discussion in the event, the fifth of its kind organized jointly with the

鈥淲e want to engage and develop a dialogue,鈥� said Prof. Jordi Canals, who leads 天美传媒鈥檚 Center for Corporate Governance.

, chairman of BBVA since 2018, spoke of the challenge of taking a long-term view as its board members monitor the challenges and risks confronting the Spanish banking giant, as well as emerging areas of opportunity. Part of the skill lies in providing support and guidance to executives while letting them get on with the day-to-day tasks of management, he said.

Here are some insights from Torres on the role of being BBVA鈥檚 chairman:

• It鈥檚 essential for the board to discuss and inform areas of strategy 鈥渆specially in a time of profound change.鈥�
• An effective board must be willing to think big, break the mold and 鈥渂ite the bullet鈥� to take difficult decisions when needed.
• Moving to the chairmanship after an earlier stint as BBVA鈥檚 CEO required 鈥渁 lot of restraint.鈥�
• 鈥淲hat the board should avoid is getting too deep into matters that are the executives鈥� responsibility,鈥� said Torres.

In聽 a session looking at the role of boards in hiring, and, when necessary, firing CEOs, Prof. Mireia Gin茅, the head of 天美传媒鈥檚 financial management department, spoke of the considerations that boards must take into account as they sift through candidates to become senior executive.

• Making the right 鈥渕atch鈥� is one of the important decisions board members can take as they assess the skills of leaders and managers, according to Gin茅.
• Strong general abilities and interpersonal skills tend to count strongly in the hiring process, she said. Firms, meanwhile, will often pay more to hire a CEO candidate who shows a willingness to invest in new technology.
• Companies must do more to ensure that more talented women can scale the executive ladder into positions where they can be considered future CEOs, according to Gin茅.
• 鈥淗R can improve their processes and make them more open,鈥� she said.

A final panel session, moderated by Prof. Canals, tapped the experience of chairmen and women of major companies including Amadeus and Cellnex who provided insights into how the role of board members will evolve.

• The part played of new technologies will be key, according to , the chairperson of Cellnex, who called on boards to 鈥渢ry and play with AI鈥�.
  • Risto Siilasmaa, a former chair of Nokia, said he could envisage a time when AI could provide a 鈥渇inal comment鈥� in board discussions as well as help in speeding up processes.
• , the chair of Amadeus, noted that the rapid pace of change in corporate life would mean more demands on independent board members, and perhaps greater rotation as a result.
  • 鈥淭here鈥檚 an expectation that people will need to engage and that requires commitment and change,鈥� he said.