Behind the Numbers: Groupthink – the boardroom’s most pervasive problem?

In this episode of Behind the Numbers, we discuss strategies to prevent and tackle groupthink at board level. By suppressing debate and disrupting effective decision-making, groupthink poses a significant governance challenge for firms. Notably, the recent scandal over fee transparency at wealth manager St James’s Place – which has set aside £426m for client refunds – has been blamed on groupthink in the boardroom. Philippa Lamb examines ways forward with Baroness Helena Morrissey, financier and former Non-Executive Director at St James’s Place; Peter van Veen, Director of Corporate Governance and Stewardship at ICAEW; and Kevin Davidson, CEO of executive search and board advisory firm Norman Broadbent. Links Tackling groupthink – why stupid questions don’t exist: https://www.icaew.com/insights/viewpoints-on-the-news/2024/jun-2024/tackling-groupthink-why-stupid-questions-dont-exist  HostPhilippa Lamb GuestsBaroness Helena Morrissey, financierPeter van Veen, Director, Corporate Governance and Stewardship, ICAEWKevin Davidson, CEO, Norman Broadbent ProducerNatalie Chisholm Episode first published: 28 June 2024Podcast recorded: 21 June 2024