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height: 1px; line-height: 1px;"> <div><img alt="" width="5" height="1" border="0" hspace="0" vspace="0" src="https://imgssl.constantcontact.com/letters/images/1101116784221/S.gif" style="display: block; height: 1px; width: 5px;"></div> </td> </tr> </tbody> </table> </td> </tr> </tbody> </table> </div> </td> </tr> </tbody> </table> <table width="100%" cellpadding="0" cellspacing="0" border="0" class="galileo-ap-layout-editor" style="min-width: 100%;"> <tbody> <tr> <td class=" editor-col OneColumnMobile" width="100%" align="" valign="top"> <div class="gl-contains-text"> <table width="100%" cellpadding="0" cellspacing="0" border="0"> <tbody> <tr> <td class="editor-text editor-text " align="left" valign="top" style="font-family: Tahoma,Geneva,sans-serif; font-size: 14px; color: #6F6E6E; text-align: left; display: block; word-wrap: break-word; line-height: 1.2; padding: 10px 20px;"> <div></div> <div class="text-container galileo-ap-content-editor"><div><div style="text-align: center;" align="center"><span style="font-size: 16px; color: rgb(0, 0, 0); font-style: italic;">Conversations with Asia&#x2019;s leading movers, shakers, thinkers, and provocateurs</span></div></div></div> </td> </tr> </tbody> </table> </div> </td> </tr> </tbody> </table> <table width="100%" cellpadding="0" cellspacing="0" border="0" class="galileo-ap-layout-editor" style="min-width: 100%;"> <tbody> <tr> <td class=" editor-col OneColumnMobile" width="100%" align="" valign="top"> <div class="gl-contains-divider"> <table class="editor-divider" width="100%" cellpadding="0" cellspacing="0" border="0" style="min-width: 100%;"> <tbody> <tr> <td class="" align="center" valign="top"> <table width="100%" class="galileo-ap-content-editor" style="cursor: default; min-width: 100%;"> <tbody> <tr> <td class="divider-base divider-solid" width="100%" align="center" valign="top" style="padding: 9px 0px;"> <table cellpadding="0" cellspacing="0" border="0" align="center" style="width: 100%; min-width: 100%; height: 1px;"> <tbody> <tr> <td height="1" align="center" style="background-color: rgb(207, 143, 18); padding-bottom: 0px; border-bottom-style: none; height: 1px; line-height: 1px;" bgcolor="CF8F12"> <div><img alt="" width="5" height="1" border="0" hspace="0" vspace="0" src="https://imgssl.constantcontact.com/letters/images/1101116784221/S.gif" style="display: block; height: 1px; width: 5px;"></div> </td> </tr> </tbody> </table> </td> </tr> </tbody> </table> </td> </tr> </tbody> </table> </div> </td> </tr> </tbody> </table> <table width="100%" cellpadding="0" cellspacing="0" border="0" class="galileo-ap-layout-editor" style="min-width: 100%;"> <tbody> <tr> <td class="feature-margin" align="left" valign="top" style="background-color: #FFFFFF; padding: 0px 20px;" bgcolor="#FFFFFF"> <table width="100%" cellpadding="0" cellspacing="0" border="0"> <tbody> <tr> <td class="feature editor-col OneColumnMobile" width="100%" align="left" valign="top" style="background-color: rgb(255, 255, 255);" bgcolor="FFFFFF"> <div class="gl-contains-text"> <table width="100%" cellpadding="0" cellspacing="0" border="0"> <tbody> <tr> <td class="editor-text feature-heading-text" align="left" valign="top" style="font-family: Tahoma,Geneva,sans-serif; font-size: 18px; color: #000000; text-align: left; display: block; word-wrap: break-word; line-height: 1.2; font-weight: bold; padding: 10px 20px;"> <div></div> <div class="text-container galileo-ap-content-editor"><div><div style="text-align: center;" align="center">Remaking Boards for the Modern Era</div></div></div> </td> </tr> </tbody> </table> </div> </td> </tr> </tbody> </table> </td> </tr> </tbody> </table> <table width="100%" cellpadding="0" cellspacing="0" border="0" class="galileo-ap-layout-editor" style="min-width: 100%;"> <tbody> <tr> <td class=" editor-col OneColumnMobile" width="100%" align="" valign="top"> <div class="gl-contains-divider"> <table class="editor-divider" width="100%" cellpadding="0" cellspacing="0" border="0" style="min-width: 100%;"> <tbody> <tr> <td class="" align="center" valign="top"> <table width="100%" class="galileo-ap-content-editor" style="cursor: default; min-width: 100%;"> <tbody> <tr> <td class="divider-base divider-solid" width="100%" align="center" valign="top" style="padding: 9px 0px;"> <table cellpadding="0" cellspacing="0" border="0" align="center" style="width: 100%; min-width: 100%; height: 1px;"> <tbody> <tr> <td height="1" align="center" style="background-color: rgb(207, 143, 18); padding-bottom: 0px; border-bottom-style: none; height: 1px; line-height: 1px;" bgcolor="CF8F12"> <div><img alt="" width="5" height="1" border="0" hspace="0" vspace="0" src="https://imgssl.constantcontact.com/letters/images/1101116784221/S.gif" style="display: block; height: 1px; width: 5px;"></div> </td> </tr> </tbody> </table> </td> </tr> </tbody> </table> </td> </tr> </tbody> </table> </div> </td> </tr> </tbody> </table> <table width="100%" cellpadding="0" cellspacing="0" border="0" class="galileo-ap-layout-editor" style="min-width: 100%;"> <tbody> <tr> <td class=" editor-col OneColumnMobile" width="100%" align="" valign="top"> <div class="gl-contains-text"> <table width="100%" cellpadding="0" cellspacing="0" border="0"> <tbody> <tr> <td class="editor-text editor-text " align="left" valign="top" style="font-family: Tahoma,Geneva,sans-serif; font-size: 14px; color: #6F6E6E; text-align: left; display: block; word-wrap: break-word; line-height: 1.2; padding: 10px 20px;"> <div><table class="editor-image OneColumnMobile" style="mso-table-rspace: 5.75pt;" align="left" cellpadding="0" cellspacing="0" border="0"> <tbody> <tr> <td class="image-cell " align="center" valign="top" style="padding: 0px;"> <div class="publish-container"> <a href="http://www.insideasiapodcast.com/about/" style="color: #597274; font-weight: normal; font-style: normal; text-decoration: underline;"> <img alt="" class="" style="display: block; height: auto !important; max-width: 100% !important;" width="195" border="0" hspace="0" vspace="0" src="https://files.constantcontact.com/41ca3c44701/2a4885ce-41e5-49c6-b9e7-e08a5c09ab46.png"> </a> </div> </td> <td class="mobile-hidden" width="15" height="1" align="center" valign="top" style="height: 1px; line-height: 1px; padding: 0px;"> <img alt="" width="15" height="1" border="0" hspace="0" vspace="0" src="https://imgssl.constantcontact.com/letters/images/sys/S.gif" style="display: block; height: auto; max-width: 100%;"> </td> </tr> <tr> <td class="mobile-hidden" height="5" align="center" valign="top" style="height: 5px; line-height: 1px; padding: 0px;"> <img alt="" width="1" height="5" border="0" hspace="0" vspace="0" src="https://imgssl.constantcontact.com/letters/images/sys/S.gif" style="display: block; height: auto; max-width: 100%;"> </td> <td class="mobile-hidden" width="5" height="5" align="center" valign="top" style="height: 1px; line-height: 1px; padding: 0px;"> <img alt="" width="5" height="1" border="0" hspace="0" vspace="0" src="https://imgssl.constantcontact.com/letters/images/sys/S.gif" style="display: block; height: auto; max-width: 100%;"> </td> </tr> </tbody> </table></div> <div class="text-container galileo-ap-content-editor"><div> <div><span style="font-size: 16px; color: rgb(0, 0, 0); font-family: Calibri, Helvetica, Arial, sans-serif;">When I say &#x201c;Board of Directors,&#x201d; what comes to mind? A faceless huddle of men in dark suits cloistered in quiet contemplation? Or perhaps a more gregarious group of business associates and golf buddies who bandy about big ideas before rubber-stamping decisions and adjourning for dinner?&#xa0;</span></div> <div><br></div> <div> <span style="font-size: 16px; color: rgb(0, 0, 0); font-family: Calibri, Helvetica, Arial, sans-serif;">Whatever your impression, the make-up, breath and accountability of Boards the world over is beginning to change. That&#x2019;s the view of this week&#x2019;s guest,&#xa0;</span><a href="https://www.russellreynolds.com/consultants/stephen-langton" target="_blank" style="font-size: 16px; color: rgb(0, 0, 0); font-family: Calibri, Helvetica, Arial, sans-serif; font-weight: normal; font-style: normal; text-decoration: underline;">Stephen Langton</a><span style="font-size: 16px; color: rgb(0, 0, 0); font-family: Calibri, Helvetica, Arial, sans-serif;">, Board &amp; CEO Advisory Group head for Russel Reynolds Associates in Asia Pacific. What happens behind closed doors is Langton&#x2019;s area of expertise. He travels the region meeting with Corporate Directors and trying to get beneath the way they think, plan, and engage with the world around them.</span> </div> </div></div> </td> </tr> </tbody> </table> </div> </td> </tr> </tbody> </table> <table width="100%" cellpadding="0" cellspacing="0" border="0" class="galileo-ap-layout-editor" style="min-width: 100%;"> <tbody> <tr> <td class=" editor-col OneColumnMobile" width="100%" align="" valign="top"> <div class="gl-contains-text"> <table width="100%" cellpadding="0" cellspacing="0" border="0"> <tbody> <tr> <td class="editor-text editor-text " align="left" valign="top" style="font-family: Tahoma,Geneva,sans-serif; font-size: 14px; color: #6F6E6E; text-align: left; display: block; word-wrap: break-word; line-height: 1.2; padding: 10px 20px;"> <div></div> <div class="text-container galileo-ap-content-editor"><div><div> <span style="font-size: 16px; color: rgb(0, 0, 0); font-family: Calibri, Helvetica, Arial, sans-serif;">For years now, the drumbeat of change has been reverberating through corporate Board rooms. It started with the call for greater gender diversity, then a push for more transparency and accountability. Every year PricewaterhouseCoopers releases its&#xa0;</span><a href="https://www.pwc.com/us/en/services/governance-insights-center/library/annual-corporate-directors-survey.html" target="_blank" style="font-size: 16px; color: rgb(0, 0, 0); font-family: Calibri, Helvetica, Arial, sans-serif; font-style: italic; font-weight: normal; text-decoration: underline;">CorporateDirectors Survey</a> <span style="font-size: 16px; color: rgb(0, 0, 0); font-family: Calibri, Helvetica, Arial, sans-serif;">and while corporations pay lip service to greater gender equality, women Board members remain woefully under-represented. It&#x2019;s a telltale sign of how companies know change must come, but remain reluctant to do much if anything about it.&#xa0;&#xa0;</span> </div></div></div> </td> </tr> </tbody> </table> </div> </td> </tr> </tbody> </table> <table width="100%" cellpadding="0" cellspacing="0" border="0" class="galileo-ap-layout-editor" style="min-width: 100%;"> <tbody> <tr> <td class=" editor-col OneColumnMobile" width="100%" align="" valign="top"> <div class="gl-contains-text"> <table width="100%" cellpadding="0" cellspacing="0" border="0"> <tbody> <tr> <td class="editor-text " align="left" valign="top" style="font-family: Tahoma,Geneva,sans-serif; font-size: 14px; color: #6F6E6E; text-align: left; display: block; word-wrap: break-word; line-height: 1.2; padding: 10px 20px;"> <div><table class="editor-image OneColumnMobile" style="mso-table-rspace: 5.75pt;" align="right" cellpadding="0" cellspacing="0" border="0"> <tbody> <tr> <td class="mobile-hidden" width="15" height="1" align="center" valign="top" style="height: 1px; line-height: 1px; padding: 0px;"> <img alt="" width="15" height="1" border="0" hspace="0" vspace="0" src="https://imgssl.constantcontact.com/letters/images/sys/S.gif" style="display: block; height: auto; max-width: 100%;"> </td> <td class="image-cell " align="center" valign="top" style="padding: 0px;"> <div class="publish-container"> <img alt="" class="" style="display: block; height: auto !important; max-width: 100% !important;" width="346" border="0" hspace="0" vspace="0" src="https://files.constantcontact.com/41ca3c44701/6b723cb0-ffcc-4ec6-8990-ed59d6548e19.png"> </div> </td> </tr> <tr> <td class="mobile-hidden" width="5" height="5" align="center" valign="top" style="height: 1px; line-height: 1px; padding: 0px;"> <img alt="" width="5" height="1" border="0" hspace="0" vspace="0" src="https://imgssl.constantcontact.com/letters/images/sys/S.gif" style="display: block; height: auto; max-width: 100%;"> </td> <td class="mobile-hidden" height="5" align="center" valign="top" style="height: 5px; line-height: 1px; padding: 0px;"> <img alt="" width="1" height="5" border="0" hspace="0" vspace="0" src="https://imgssl.constantcontact.com/letters/images/sys/S.gif" style="display: block; height: auto; max-width: 100%;"> </td> </tr> </tbody> </table></div> <div class="text-container galileo-ap-content-editor"><div> <div><span style="font-size: 16px; color: rgb(0, 0, 0); font-family: Calibri, Helvetica, Arial, sans-serif;">Finally, a force larger than anything seen before may be breaking down the walls of Board intransigence and it goes by the name of public opinion. Powered by social media, customers and the public at large are having their say on topics once relegated to Boardrooms. Activists, advocates and every day concerned citizens are leveraging a smartphone and Twitter account to let their views be known. Funny enough, probing or embarrassing questions can be enough to sway Corporate Directors on matters of strategic or operational importance.</span></div> <div><span style="font-size: 16px; color: rgb(0, 0, 0); font-family: Calibri, Helvetica, Arial, sans-serif;">&#xa0;</span></div> <div><span style="font-size: 16px; color: rgb(0, 0, 0); font-family: Calibri, Helvetica, Arial, sans-serif;">It would be wrong to overstate the impact of social media on Board decisions. It&#x2019;s still taking root. But it is fair to say that increasingly Board members acknowledge the movement and are preparing for its impact. When polled, Corporate Directors worldwide say they remain inadequately informed about digital communication risks, cybersecurity, and classified information leaks. Increasingly, companies are recruiting technology specialists onto their Boards to counter the threat. But is it enough?</span></div> <div><span style="font-size: 16px; color: rgb(0, 0, 0); font-family: Calibri, Helvetica, Arial, sans-serif;">&#xa0;</span></div> <div> <span style="font-size: 16px; color: rgb(0, 0, 0); font-family: Calibri, Helvetica, Arial, sans-serif;">If you put all of this together, it&#x2019;s easy to get line of sight on how this will improve market responsiveness, profits, and&#xa0;</span><span style="font-size: 16px; color: rgb(0, 0, 0); font-family: Calibri, Helvetica, Arial, sans-serif; font-style: italic;">share</span><span style="font-size: 16px; color: rgb(0, 0, 0); font-family: Calibri, Helvetica, Arial, sans-serif;">holder value. It&#x2019;s less clear if this will all add up to generate improved&#xa0;</span><span style="font-size: 16px; color: rgb(0, 0, 0); font-family: Calibri, Helvetica, Arial, sans-serif; font-style: italic;">stake</span><span style="font-size: 16px; color: rgb(0, 0, 0); font-family: Calibri, Helvetica, Arial, sans-serif;">holder value.&#xa0;</span> </div> <div><span style="font-size: 16px; color: rgb(0, 0, 0); font-family: Calibri, Helvetica, Arial, sans-serif;">&#xa0;</span></div> <div><span style="font-size: 16px; color: rgb(0, 0, 0); font-family: Calibri, Helvetica, Arial, sans-serif;">Langton says corporations and their Boards are increasingly being called to task on the so-called &#x201c;social license to operate&#x201d; or SLO. But are companies ready to deliver something more than customer value and think in broad terms about environment, community and the greater social well-being?&#xa0;&#xa0;In real terms&#x2026;probably not. Taking a haircut on earnings isn&#x2019;t part of the shareholder agenda. At least not now, or not until it&#x2019;s seen as a commercial imperative.</span></div> <div><span style="font-size: 16px; color: rgb(0, 0, 0); font-family: Calibri, Helvetica, Arial, sans-serif;">&#xa0;</span></div> <div><span style="font-size: 16px; color: rgb(0, 0, 0); font-family: Calibri, Helvetica, Arial, sans-serif;">If only for a minute, let&#x2019;s imagine a world where Boards lead versus react. What if the new agenda put people and the environment first? Would it influence buyer behavior? Would customers follow or would price remain the prevailing determinant of what one buys?&#xa0;</span></div> <div><span style="font-size: 16px; color: rgb(0, 0, 0); font-family: Calibri, Helvetica, Arial, sans-serif;">&#xa0;</span></div> <div><span style="font-size: 16px; color: rgb(0, 0, 0); font-family: Calibri, Helvetica, Arial, sans-serif;">It may be generational. Increasingly, Gen X &amp; Z say they make buying decisions based on the perceived social responsibility of the product manufacturer or service provider. I wish I could say the same of my generation. Maybe we&#x2019;ll all have to die off, taking our purchasing power with us, before that kind of change drives Boards to think more proactively. I&#x2019;d like to think not. In fact, I prefer to focus on what can be done now to change up and change out Board composition, introduce new skill sets, expand the role of female directors, and reshape the principals of operation to include sustainable practices.&#xa0;</span></div> <div><span style="font-size: 16px; color: rgb(0, 0, 0); font-family: Calibri, Helvetica, Arial, sans-serif;">&#xa0;</span></div> <div><span style="font-size: 16px; color: rgb(0, 0, 0); font-family: Calibri, Helvetica, Arial, sans-serif;">Baby steps is all it takes and maybe, just maybe, Asia is in a position to show the way. Steve Langton sees the possibility with the rise of new reforms, government encouragement, and a new breed of enlightened CEOs. Finding balance in a new era is what it&#x2019;s all about and with the combined influence of social media, a new generation of consumer, and a focus on sustainable business practices, there is hope.&#xa0;</span></div> <div><span style="font-size: 16px; color: rgb(0, 0, 0); font-family: Calibri, Helvetica, Arial, sans-serif;">&#xa0;</span></div> <div> <span style="font-size: 16px; color: rgb(0, 0, 0); font-family: Calibri, Helvetica, Arial, sans-serif;">To listen to my 30-minute discussion with Stephen, go to&#xa0;</span><a href="http://www.insideasiapodcast.com/" target="_blank" style="font-size: 16px; color: rgb(0, 0, 0); font-family: Calibri, Helvetica, Arial, sans-serif; font-weight: normal; font-style: normal; text-decoration: underline;">www.insideasiapodcast.com</a><span style="font-size: 16px; color: rgb(0, 0, 0); font-family: Calibri, Helvetica, Arial, sans-serif;">, or visit, subscribe and download this episode or any of our 77 episodes via&#xa0;</span><a href="https://itunes.apple.com/us/podcast/inside-asia/id1229755673" target="_blank" style="font-size: 16px; color: rgb(0, 0, 0); font-family: Calibri, Helvetica, Arial, sans-serif; font-weight: normal; font-style: normal; text-decoration: underline;">iTunes</a><span style="font-size: 16px; color: rgb(0, 0, 0); font-family: Calibri, Helvetica, Arial, sans-serif;">,&#xa0;</span><a href="https://www.stitcher.com/podcast/inside-asia-podcast" target="_blank" style="font-size: 16px; color: rgb(0, 0, 0); font-family: Calibri, Helvetica, Arial, sans-serif; font-weight: normal; font-style: normal; text-decoration: underline;">Stitcher</a><span style="font-size: 16px; color: rgb(0, 0, 0); font-family: Calibri, Helvetica, Arial, sans-serif;">, or&#xa0;</span><a href="https://play.google.com/music/listen#/ps/I4iu2xx4etliozrtlzzdieazbca" target="_blank" style="font-size: 16px; color: rgb(0, 0, 0); font-family: Calibri, Helvetica, Arial, sans-serif; font-weight: normal; font-style: normal; text-decoration: underline;">GooglePlay</a><span style="font-size: 16px; color: rgb(0, 0, 0); font-family: Calibri, Helvetica, Arial, sans-serif;">.&#xa0;</span> </div> <div><span style="font-size: 16px; 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I hope you&#x2019;ll join us.</div></div></div> </td> </tr> </tbody> </table> </div> </td> </tr> </tbody> </table> <table width="100%" cellpadding="0" cellspacing="0" border="0" class="galileo-ap-layout-editor" style="min-width: 100%;"> <tbody> <tr> <td class=" editor-col OneColumnMobile" width="100%" align="" valign="top"> <div class="gl-contains-web"> <table class="editor-web" width="100%" cellpadding="0" cellspacing="0" border="0"> <tbody> <tr> <td class="" align="center" valign="top"> <table width="100%" cellpadding="0" cellspacing="0" border="0" class="galileo-ap-content-editor"> <tbody> <tr> <td class="block-margin web-content" width="100%" align="left" valign="top" style="padding: 10px 20px;"> <table width="100%" cellpadding="0" cellspacing="0" border="0"> <tbody> <tr> <td class="web-content-border" align="left" valign="top" style="background-color: #F4F4F4; padding: 1px;" bgcolor="#F4F4F4"> <table width="100%" cellpadding="0" cellspacing="0" border="0"> <tbody> <tr> <td class="web-content-inner" width="100%" align="left" valign="top" style="background-color: #FFFFFF; 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