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BOARDROOM BRAVADO Seasoned board member Lone Fønss Schrøder sits down with The International to share her wisdom when it comes to best business practices from the boardroom to operations on the ground.
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PHOTOGRAPHS VOLVO CARS; MARIE HALD
TEXT CLAIRE ROSS-BROWN
LONE FØNSS SCHRØDER
is one of the most recognised business leaders in the world today. At just 28 she was appointed CEO of the A.P Moller-Maersk owned airline Star Air, and then went on to become the highest-ranking woman in Maersk, in the process founding Maersk Global Procurement. Taking good care of a family and a highly demanding career, Schrøder is an inspiration to many women all over the world. The current Vice Chairman of Volvo Car Corporation, Schrøder is also chairman of Nustay, board member of Ikea (Ingka), co-founder of fintech company CashWorks and has several other business interests. How does she keep up with it all and ensure she is across strategic challenges in each business? She says that a holistic approach is needed. “You can’t only be a director in a company, things are moving fast, you have to be involved in building companies from a more product or operational point of view as well and understand the cross-sector developments not least fostered by the digital development, or I think you risk not being sufficiently equipped,” she explains. She goes on to say that this was her thinking when she co-founded C a s h -wo r k s , “when we built the fintech company for regulated banks, I unLone Fønss Schrøder derstood that it
CLAIRE ROSS-BROWN BUSINESS ENTREPRENEUR AND EXECUTIVE was going to be one of the most demanding environments I’ve ever worked in, and that I needed to be across all operation of the business. This has assisted me in remaining relevant and value creative in the other companies I serve as director.” The engaged business woman has had to deal with her fair share of challenges, especially when it comes to largescale structural changes in the businesses she had headed up. She says that it is vital the boards of these companies are equipped with directors who have experience with issues that affect ownership and control of a business. “It is important that I understand the tempo at which changes are necessary to develop and implement and have an eye for the unknown, and be able to develop ways to address various opportunities and risks,” Schrøder explains. “It’s also important to ensure that the company has values which are appreciated by the stakeholders and that the company is deemed attractive for the right candidates to join. It is not a given that a company can always get the directors and employees who best service the company. This is an eco-system which has to
be carefully maintained.”
BEING ACROSS THE BUSINESS I asked Schrøder for her best piece of advice for both men and women who want to achieve great things on their own company boards. She said there is one key element that she has experienced as being critical to her own success – understanding both the bigger and smaller picture. “It is necessary to build experience and understand the huge variety of elements which make up a company, as well as its risks and opportunities. It has worked for me to understand both the details and the big strategic picture,” she says. Although, she does admit that she is yet to master the finer details when it comes to understanding “each and every piece in a constantly changing jigsaw”. She says that this has allowed her to achieve great success with companies, “where I have against all odds either saved companies from bankruptcy or been part of a team which has created great wealth and lots of new jobs”. Making an early move and bold decisions in situations of uncertainty has allowed Schrøder to achieve the success she has. THE-INTL
DIRECTOR OF FINTECH COMPANY CASHWORKS Claire has over 26 years', experience working as both a business consultant and actress/ singer. She has worked as a Headhunter in London city with Investment Banks, produced an album and invests in companies. Claire is a true Londoner, yet considers Denmark her home, where she lives with her family. She loves to run, box, snowboard and wakeboard. Her column in The International is about Entrepreneurship, interesting businesses and key business people, board member of www. boernogungeinoed.dk/
www.cashworks.ch
AUGUST 2018 - WWW.THE-INTL.COM