What it takes to be a Board Member? Retirement? Here’s the ladder [Ft Su-Yen Wong, CDL, IMDA, NKF & Terence Quek, CEO SID]

Ever wondered what it really takes to sit on a company's board of directors? Is it the cushy retirement gig many imagine it to be, or something far more complex?Join experienced CEO, and board chair serving on multiple prestigious boards, to pull back the curtain on the world of directorship- Su-Yen Wong, Past Chair, Singapore Institute of Directors- Terence Quek, CEO, Singapore Institute of DirectorsThey'll explore:- What board directors actually do (hint: it's not just approving budgets!)- The surprising pathways to joining your first board- Why directorship is evolving into a serious profession requiring specific skills- Whether the compensation is worth the responsibility (including potential legal liability!)Plus, get insider perspectives on boardroom dynamics during company crises, and discover if your background might make you a valuable board candidate.Whether you're plotting your post-executive career or simply curious about how corporate governance really works, this episode offers rare insights into a role that shapes organisations but remains mysterious to most.Tune in to discover if joining a board could be your viable retirement plan—or if you might want to think twice!01:35 - What does SID do, and what role does it play?04:35 - How does the board of directors decide to remove management, and what does that process involve?10:15 - Do board members earn a lot, and is it worth their time?25:20 - What are the pathways to becoming a board member?27:49 - How is a board structured, and what are its common roles?30:20 - What does it take to approve people, budgets, and decisions on a board?35:46 - How do you join a board, and who selects the members and chairman?---Welcome to The Financial Coconut, your source for empowering financial knowledge and unlocking possibilities. Join us as we explore personal finance, investing and more.Get ready to take control of your financial future and live your best life, financially wise: https://linkin.bio/thefinancialcoconut[Podcast, Vodcast]Spotify: https://rebrand.ly/TFC-spotifyApple Podcast: https://rebrand.ly/TFC-applepodcastYouTube: https://rebrand.ly/TFC-youtube[Connect with us]Instagram: https://rebrand.ly/TFC-instagramTik Tok: https://rebrand.ly/TFC-tiktokTelegram: https://rebrand.ly/TFC-telegramWhatsapp: https://rebrand.ly/TFC-Whatsapp-channelNewsletter: https://rebrand.ly/TFC-NewsletterCheck out our other shows: https://www.youtube.com/@TheFinancialCoconutTFC/playlists Disclaimer: The content discussed in this episode is intended for educational purposes only and should not be considered as financial advice. The information provided is based on our understanding at the time of recording and may not reflect the current regulations or market conditions. The opinions expressed by guests are their own and do not necessarily represent those of The Financial Coconut. Please do your due diligence before making any investment or financial decisions.Learn about our eventHelp us get to know you better: http://bit.ly/thefinancialcoconut-survey Hosted on Acast. See acast.com/privacy for more information.