Lead in a Transformative Way, Urges Peter Gleason

In his welcome address to NACD Directors Summit 2024 attendees, Gleason said that directors can help strengthen companies, enhance economies and capital markets, and ultimately instill greater hope in a rapidly changing global landscape.  

Peter R. Gleason, president and CEO of NACD, addressed attendees at the opening session of the NACD Directors Summit 2024. Below is his welcome address. 

“Today, your companies and their stakeholders need your leadership like never before. In fact, we all do. Serving on a board is an exceedingly high calling. It carries tremendous responsibility but also unlimited promise for shaping a better tomorrow.

As we all are acutely aware, there is incredible flux in the world. To say that 2024 has been an intense year would be a profound understatement. Geopolitical upheavals and other world events don’t appear to be settling down any time soon and division on hot-button issues and overall polarization only seem to be spiking. 

Additionally, we aren’t yet through the biggest election year in history. Citizens in countries representing half the world’s population have been going to the polls this year, and we don’t know what effect many of those election outcomes will have on business.

In many respects, the future is in our hands. As directors, we serve as steady guides for our companies within a rapidly changing global landscape. At this pivotal moment, each of us has the opportunity to lead in a transformative way—one that strengthens our companies, enhances economies and capital markets, and ultimately instills greater hope as we look toward the future. 

Regardless of what happens in the elections in the United States or elsewhere you have the voice, agency, and means to pioneer a better direction for your organizations. This is your opportunity to truly own your leadership, to lead with the strength of purpose and character that are hallmarks of a higher calling. 

I genuinely believe that each of us making a difference within our companies and within the spheres of society that they impact is democracy at its fundamental best. Recognize it and embrace its calling, because as sure as I am standing here today, I know that we are at an inflection point and that we can shift the scales for the better.

Allow me to make one final comment about the impending elections. At the end of the day, businesses need a strong democracy. A healthy rule of law fosters the stability that we need to thrive. Although directors don’t exist for political means, it is in the best interest of business and the economy overall to advocate for an environment in which we all can flourish for the long term.

So, as the world spins at this accelerated, no-turning-back pace, I urge each of you to apply the full effect of your influence and leadership to make a meaningful impact at the companies you serve. 

Board leadership is demanding. It’s multifaceted, and it requires trust. But trust is fragile. It needs to be earned. The 2024 Edelman Trust Barometer once again found that business is truly the only trusted institution. But don’t get overly confident in those conclusions; trust in business is dwindling, too. In fact, the Edelman findings amplify the critical importance of being intentional in how we lead. 

Concerning the “how,” it’s a simple blueprint: keep the companies you serve anchored to the vision, mission, and values upon which they were established. As far as I’m concerned, this is the key to success, especially while navigating turbulent times. But this goes far beyond simply knowing the vision, mission, and values. It means embodying them with every board decision.

When boards and companies remain true to their guiding principles while taking a visionary approach to long-term value creation, they secure a sustainable foundation. This foundation is crucial because it allows us to seize the limitless opportunities that come with change. Simply, it supports success. 

And just as I called on you at last year’s Summit to choose courage, the same call to action applies today because courage is necessary when we choose to lead with integrity and intentionality. As Winston Churchill once said, ‘Fear is a reaction. Courage is a decision.’ 

I want to talk a little bit about NACD’s mission, which is to stand with and empower you for success.

There’s so much to juggle as a director today. NACD exists precisely to fuel your leadership and be your trusted, independent voice in governance and business. We bring you prominent experts to fill knowledge gaps through hundreds of curated events and give you exclusive access to top-line information so you can effectively steer your boards.

Take cyber threats, for instance: we’ve brought members face-to-face with our nation's top protectors for high-level briefings from the Cybersecurity & Infrastructure Security Agency (CISA) to the US Secret Service. What’s more, our spring and fall Advisory Council meetings convene Fortune 500 directors and committee chairs for experiential events on hot topics such as behind-the-scenes meetings at the Pentagon and the New York Stock Exchange, a briefing from the Federal Bureau of Investigation on financial fraud and intellectual property theft, and succession planning insights from the US Army. We synthesize that information and deliver actionable intelligence for our entire membership.

Notably, the NACD Directorship Certification^® program is now in its fifth year and has elevated the knowledge base and confidence of almost 2,000 now-certified directors—something we consider our own version of growth investment in the future. We have almost 500 certified directors in the audience today. Thank you all for demonstrating your commitment to good governance and continuous learning.

Perhaps most valuable, NACD opens the door to peer learning and unmatched collegial support, especially through our extensive and highly rated chapter network programming. The NACD community itself is the greatest asset directors have for leading their companies into a promising and prosperous tomorrow. In short, NACD helps you continually develop your strengths as directors. 

As we stand on the cusp of the fastest technological shift in history, the director’s role has never been more important. So, this year’s eagerly awaited Report of the NACD Blue Ribbon Commission on Technology Leadership in the Boardroom is urgent and timely. This impressive body of work stemming from 24 directors representing more than 50 boards will help each of you lead the charge in getting your board and company future-ready.

It should come as no surprise when I say that the effective management of next-generation technology has become an existential imperative for companies. We are living through a time when the realm of the possible is incredibly compelling. But if you want to leverage what’s possible, you must shift your mind-set from oversight alone to both oversight and foresight. This year’s report provides the ‘how’ for overseeing all technology, including artificial intelligence, so you can move the realm of what’s possible into reality for your companies safely and with duty of care. 

Don’t let the paradox of all this change be lost on you. While challenging, these impending disruptions as a result of innovation also will help every company with their missions—whether that’s saving lives through better health care, providing nutrition to the world’s population, creating trust in financial systems, or protecting the supply chain. 

These are extraordinary times, altogether different than any I’ve seen over my 24 years with NACD. Everything is hard. But, then again, everything is possible.

Each of us has the ability—and is obligated—to make a meaningful difference for tomorrow. Trust is in our court. Influence is in our court. But in the final analysis, it’s how we lead that matters. Right now, we have the chance to lead with vision and integrity and to create a more hopeful future.

Without a doubt, the decisions that each of you make, and the actions you take as directors, will have a chain reaction in today’s intricately complex world. You can wield tremendous impact on what tomorrow will look like by the choices you make in how and where you lead. This is your moment to truly own your leadership and to guide your companies into a better tomorrow. 

Now, I invite you to spend the next three days learning, networking, and thinking about the steps you and your board will take to create a positive future. We were deliberate in choosing a lineup of mainstage speakers who could help you do just that.

I urge you to bring that privileged information back to your boardrooms. Use your passion for continuous learning to demonstrate excellence in governance. Whether that means getting your fellow board members to read NACD Directors Daily^® or attend an NACD Industry Roundtable or other event, I encourage you to get others on your boards engaged with NACD as well.

My friends, you, as directors, are up at bat. The bases are loaded and it’s the bottom of the ninth. This is your moment. Your companies, society, and the world are counting on you.”