Governance experiences and insights with Upkar Arora
In March 2022, Upkar Arora, CEO of Rally Assets, joined co-hosts Adam Presslee and Nancy Vanden Bosch for a Performance Management in Practice event. In this fireside chat, Upkar answers questions posed by the MAcc Class of 2022, sharing his unique combination of governance experiences: first as a board member for several different types of organizations and second as CEO of Rally Assets. Watch the interview highlights below to learn from Upkar's board experiences and his insights on effective governance.
Interview highlights
How choices shape a career path
Get to know Upkar Arora and the criteria he used to make the choices that have shaped his career path from KPMG to Rally Assets.
Insights into the role of a board
Listen for lessons from Upkar’s first experience as a member and then chair of the board for the McMichael Canadian Art Collection.
Governance needs depend on the organization
Watch for examples of the different governance needs that different organizations have at different times in their stage of evolution.
Board succession planning and independence
“There are new rules coming about what constitutes independence. My view is that after anything more than six or seven years, you start to skew towards not being independent, not being objective, not being able to have the tough conversations.”
Why the size of the board matters
Note why the number of board members influences the level of commitment and engagement and the diversity of thought.
How much time a board member commits
“If you can't be there and be present and be knowledgeable and thoughtful don't make the commitment in the first place.”
Why some boards are dysfunctional
Note the influence that incentives and feedback have on board effectiveness.
How impact investors influence boards
Listen for the strategies Rally Assets uses to encourage a shift to more responsible behavior.
Board member attributes and knowledge
Note the attributes and technical knowledge of good board members and how board members can and must develop both in a volatile uncertain complex and ambiguous world.
Final thoughts – advice to young professionals
“Okay, I will never be ready, but I do want to learn, and this provides me with an opportunity to learn and to contribute.”
Interested in learning more?
Here is a link to the website for additional information about the Institute for Corporate Directors (ICD) that Upkar mentioned during the interview.
Acknowledgements
The Performance Management in Practice series is sponsored by the CPA Ontario Centre for Sustainability Reporting and Performance Management. Thanks to CPA Ontario for its support and to the students who joined the event for their great questions.