Changes

There's a considerable range of organisations where the skills of the independent director are required: public, private equity and private companies, charitable organisations or those using the services of trustees or governors, but Brown concentrates on case studies of those companies of which he has had personal experience as an independent director. The companies are from various sectors: logistics, construction, pharmaceuticals, manufacturing, IT, foods, ports, property and financial services, cover the USA, Europe and Asia and vary in size from small to large and include private equity companies. Additionally he's had experience in a company which had to be wound up, others which have been turned around and those which have succeeded, and has a considerable track record of working on the executive side of businesses. It gives this book an impressive pedigree.

After each case study Brown looks at the lessons learned. He's clear in his analysis of what went well and what went wrong. If particular people are a part of the problem or success then he's unafraid of saying so although I never heard the noisy sound of axes grinding. He's sensitive to cultural differences without ever losing sight of the fact the independent director is responsible to the shareholders rather than to the company (or individuals within the company) although, in effect he can regularly become a link between the two. I found his comments on the limitations of the role of the independent particularly thought-provoking: whilst they can offer advice and guidance they cannot make the decisions. That is up to the executive who must do what they feel it is right to do. There's obviously a subtle distinction here between the advice not being given or sufficient scrutiny being exercised – the independents failing to do their job – and their advice being ignored. Brown makes the point that when something goes wrong the independent director's reputation can be stained for a long time.