179. Gareth Penny: Diamonds and Coal: Governing when the odds are stacked against you

Gareth Penny spent 22 years at De Beers, joining the board in 2003 and serving as Group CEO from 2006 to 2010 during which he dismantled over a century of supply-side monopoly. From 2013 to 2022 he was Independent Chair of Norilsk Nickel, winning Russian Chairman of the Year in 2016, and from which he resigned following the invasion of Ukraine. Listen to this episode to find out more about: Why being the world's biggest diamond monopoly was almost worthless (01:52) The people inside a business are the last to see what's wrong with it (06:20) Governing a boardroom with a government, a corporate and a family in it (11:20) The advice Gareth gives any CEO about to reinvent their company (14:36) What a fit board and a great sportsman have in common under pressure (20:36) The secret to a calm boardroom (24:42) Why the chair should always be the last person to speak (27:21) How a board handles one of the worst oil spills in Arctic history (30:15) The board function Gareth thinks almost every company is missing (35:36) ⚡The Lightning Round⚡(37:55)

Host: Oliver Cummings

Producer: Will Felton

Editor: Penelope Coumau

Music: Kate Mac

Audio: Nick Kold

Email: podcast@nurole.com

Web: https://www.nurole.com/nurole-podcast-enter-the-boardroom