Once a quarter the two cohorts of the EB Peer Group for NEDs, Trustees, Board Advisors and Consultants acting at Board Level join forces for a 'super meeting'. This time the event was hosted by Great North Air Ambulance Services (GNAAS) at their headquarters in Eaglescliffe, Stockton.
Founder of The Experience Bank Group, Peter Neal, gives us an insight into the activity undertaken by the members of the continual professional development opportunity:
“This month’s joint session of EB1 and EB2 was a great success, even if our facilitator Andrew Marsh could not be there in person. Covid hit him hard and it was best for all that he kept his distance!
“That did not stop us all having an impactful session, and below you will find a round up of what we discussed. A huge thank you to David and Ashleigh at The Great North Air Ambulance Service (GNAAS) for their time and wonderful hosting of our meeting.
“We started our session with some informal catch-up networking over coffee, before being given an insight into GNAAS, from CEO David Stockton. As well as painting the picture of the charity’s history, David talked us through the impact of the service and the funding required. Covering a huge area, collaborating with several NHS Ambulance Trusts and other emergency rescue services, it cost circa £9 million per year to keep the charity going, the vast majority of which comes from legacies and public donations. Last year the team delivered 2100 interventions bringing help, hope, and comfort to those in the most traumatic of needs.
“There was an alert whilst we were being given a tour of the base, and within just a few minutes we witnessed the crew mobilise and the helicopter take off to provide emergency, pre-hospital trauma care at an RTA incident near Peterlee. We sent the crew on its way with all of our best wishes for a successful intervention.
“We then returned to the warmth of the training room where we watched a harrowing video about Jack and his family, one family whose lives would not be the same without the intervention of GNAAS specialist trauma doctors and paramedics.
It’s safe to say there weren’t many dry eyes in the house!
“Following a break where we had a light lunch together, Andrew joined us remotely and we tackled one member’s question on what is appropriate renumeration and incentivisation for a NED. We expanded the question to look at the situation within a PLC and an unlisted company setting by way of comparison.
“Andrew reminded us of the seven obligations of a director, and we split into groups to discuss the merits of stocks, shares, day rates, salaries, options, discounted options, and bonus/equity plans. We all agreed that it was important to think carefully as a NED before accepting shares as this could put you in conflict with a number of the seven obligations, including remaining independent. Andrew also shared with us the Independence Test as an example of where the conflict would lie.
“We then spent the remaining time looking at the seven key skills of a NED – we mapped out where we currently are in the areas and where we need to be, breaking off into groups to discuss how we can each individually achieve this.”
If you think that you would like support as an existing or aspiring NED, Trustee, Board Advisor or Consultant at Board level, then do get in touch as I am launching the third cohort this summer: peter@theexperiencebank.co.uk