Navigating Business Challenges

Great Board conversations don’t sell—they stretch your thinking. Having spent time both as a member of the management team working with the Boards and as a Board member myself, I’ve seen a few common pitfalls that even seasoned leaders fall into. Here are three that stand out: 1. Trying too hard to “sell” the strategy. Your job with the Board isn’t to pitch—it’s to inform. The goal is to create a regular rhythm of updates around the business, strategy, and execution. One of the fastest ways to lose credibility is to act like everything’s perfect. Every company—no matter how successful—has real challenges. Board members know this. Being candid about those challenges doesn’t make you look weak. It makes you trustworthy. Transparency matters. Your numbers already tell part of the truth. Bring the rest. 2. Keeping the strategic aperture too narrow. Executives often focus on operational detail and forget that Boards can be most helpful in widening the lens. Leverage their distance from the day-to-day as a feature, not a flaw. I cringe when I hear, “I need to dumb it down for the Board.” In reality, the best Boards raise the level of strategic thinking. Bring them into big questions: “What does our industry look like in five years? Where should we be positioned?” Boards are at their best when they help you challenge your assumptions and stretch your thinking. 3. Not asking for guidance. Some of the best advice I’ve ever received in my career has come from Board members. Don’t just report—ask. Tap into their experience. Invite their perspective. The Board appreciates humility, especially when you say, “I haven’t figured this out yet—I don’t have the answer. But what are the strategic issues you would consider if you were in my shoes?” Because here’s the truth: The smartest executives don’t try to impress the Board—they learn from it. And here are 3 things I’ve learned to always get from a great Board conversation: 1. Start with the commercial “why.” Boards aren’t there for a product roadmap walkthrough—they want to understand business impact. Always lead with the commercial dimension. Why does this matter for revenue, margin, competitive advantage, or long-term growth? When you start there, everything else has context. Your Board isn’t a stage—it’s your secret weapon. 2. Define what good looks like. One of the most helpful things you can do is to show what “great” would look like—clearly and with metrics. It gives the Board a benchmark to assess against, and it keeps the conversation focused on outcomes, not just activity. 3. Ask what you’re not seeing. The question I’ve found most consistently valuable: “What do you think we’re not thinking about as a management team?” You’ll be amazed at the insight that comes back. This invites perspective without defensiveness—and you’ll often uncover blind spots or strategic angles that weren’t even on your radar. Because Boards aren’t there to be dazzled—they’re there to help you see what you can’t.

The Series A market feels broken right now and I'm not sure when things will turn around. I know a dozen founders stuck at seed right now with real metrics. Growing revenue, paying customers, solid retention and impressive customer pipelines. The kind of numbers that would have closed a Series A two years ago without blinking. But no term sheets to be had so more top-up rounds and getting creative with cash. The VC feedback comes in two flavors: → "Not AI-native enough" → "We're not investing in that category right now" But what that actually means is that investors have collectively decided that only a handful of categories deserve capital right now and everything else, no matter how good the business, is an underdog. Fintech, supply chain, vertical SaaS, marketplaces - good companies building real value, written off because they aren't "AI-native" enough. The irony is that the metrics bar has never been higher while the category tolerance has never been lower. We've created a market where a founder has to be both exceptional AND in the right zip code. Miss either and you're raising a bridge. I strongly believe that the next generation of breakout companies will come from exactly these "underdog" categories. Not because AI isn't important but because that's where the competition is thinnest and the actual customer problems are deepest. The Series A investors crowding into the same AI infrastructure bets may have a very uncomfortable portfolio review in 2027. Meanwhile the boring companies with good numbers keep getting told to come back when they're more exciting 🤷🏼♀️ #VentureCapital #SeriesA #Founders #EarlyStage #EverywhereVentures

If #diversity, #equity, and #inclusion practitioners want to get ahead of anti-DEI backlash, we have to address an elephant in the room: no two people in the same workplace perceive their workplace the same way. I see this every time I work with client organizations. When asked to describe their own experience with the workplace and its DEI strengths and challenges, I hear things like: 😊 "I've never experienced any discrimination or mistreatment; our leaders' commitment is strong." 🤨 "I had a good time in one department, but after transferring departments I started experiencing explicit ableist comments under my new manager." 🙁 "I've never had anything egregious happen, but I've always felt less respected by my team members because of my race." Who's right? Turns out, all of them. It starts to get messy because everyone inevitably generalizes their own personal experiences into their perception of the workplace as a whole; three people might accordingly describe their workplace as a "meritocracy without discrimination," an "inconsistently inclusive workplace dependent on manager," or "a subtly racist environment." And when people are confronted with other experiences of the workplace that DIFFER from their own, they often take it personally. I've seen leaders bristle at the implication that their own experience was "wrong," or get defensive in expectation they will be accused of lacking awareness. It's exactly this defensiveness that lays the foundation for misunderstanding, polarization, and yes—anti-DEI misinformation—to spread in an organization. How do we mitigate it? In my own work, I've found that these simple steps go a long way. 1. Validate everyone's experience. Saying outright that everyone's personal experience is "correct" for themselves might seem too obvious, but it plays a powerful role in helping everyone feel respected and taken seriously. Reality is not a question of "who is right"—it's the messy summation of everyone's lived experience, good or bad. 2. Use data to create a shared baseline. Gathering data by organizational and social demographics allows us to make statements like, "the average perception of team respect is 70% in Engineering, but only 30% in Sales," or "perception of fair decision making processes is 90% for white men, but only 40% for Black women." This establishes a shared reality, a baseline for any effective DEI work. 3. Make it clear that problem-solving involves—and requires—everyone. The goal of DEI work is to achieve positive outcomes for everyone. Those with already positive experiences? Their insights help us know what we're aiming for. Those with the most negative? Their insights help us learn what's broken. The more we communicate that collective effort benefits the collective, rather than shaming or dismissing those at the margins, the more we can unite people around DEI and beat the backlash.

I’ve been an American boss in Tokyo for almost 10 years and here’s a few things I keep in mind. 1) Big decisions aren’t made in meetings in Japan, they’re made in the weeks before, through one-on-one talks and getting consensus. It’s called “nemawashi” and if you don’t do it your Japanese colleagues and staff will find you very unpleasant. When I worked at Sony Music, by the time the “big meeting” happened, the outcome was already locked. 2) Vacations mean different things to different employees. A European teammate expects 4 weeks abroad with their family. A Japanese colleague is fine with 5 days for an international trip, but they would never work on Jan 2nd. Rather than add 20 extra vacation days, make policies for remote work, flexibility, etc. For example, I’ve seen international staff willing to work on Japanese national holidays, while Japanese staff rarely do. It can be tough to keep everyone happy and play fair. 3) Making team members feel valued: Non-Japanese, especially “Western” staff often expect praise, especially in front of the whole company. Japanese staff? Not so much. But I’ve gotten in trouble for not “respecting” their past relationships, i.e. past bosses, past titles, past connections, these matter very much to many Japanese team members, in a market where business is so relationship-based. Treating their personal connections as priceless is a way to show you respect your Japanese team members. If you’ve managed cross-cultural teams in Japan, what has been the biggest surprise for you? Pictured: Me at the New Year Party for MUSIC AWARDS JAPAN / CEIPA earlier this year, 10/10 Japanese business social gathering.

The real work begins after the ink dries – my M&A learnings. According to most studies, between 70-90% of M&A transaction do not deliver the targeted goals. Experienced M&A practitioners identify problems in the integration as a primary cause. Over the past years, I have had the privilege of being involved in several M&A transactions at HDI International – from strategic evaluation to post-merger integration. Each deal brought its own dynamics, but one truth remained constant: the most challenging time begins after the signing. Here are my top personal learnings from post-merger integrations: 1️⃣ Start integration early and move fast – Integration planning should begin very early on, even before signing. A clear roadmap for the following months sets expectations and creates transparency thus reducing the uncertainty each integration phase will inevitably bring. Moving diligently, but fast through the integration phases and defining the leadership teams early on also helps to reduce the uncertainty. 2️⃣ Define clear targets and keep a business focus – We defined for the integration financial and operational goals overall and for each area top-down and bottom-up. This created clarity and commitment. We also continuously tracked the progress made. This helped to keep a clear focus on the market and our business momentum while also achieving the targeted synergies. 3️⃣ Culture is not a soft factor – It’s often the hardest and most decisive element. Our teams made it a priority to establish a common culture that fits both companies. True to the motto: listening, adjusting, and moving forward together. Our overall values of transparency, engagement and collaboration are at the basis of the new common culture and were critical in each integration process. 4️⃣ Embrace feedback – A healthy error culture and open feedback loops are essential. When moving fast in such a complex integration process, surprises and mistakes will happen. It is thus key to identify and address them quickly and to learn from them. 5️⃣ It’s a team effort – Integration success very much depends on the team you have on the ground, not only in our decentral organization. We have leaders who know the market, their business operation and their teams deeply. In addition, quite a number of leaders already have vast experience in post-merger management. On top, it wasn’t just our leadership teams who made the difference – it was every colleague who embraced the integration as an opportunity to build a leading business in their market, adapting and supporting each other, going the extra mile while maintaining the business momentum. 🙏 I’m grateful to everybody who has made the integrations of the past years successful – with dedication, resilience, openness, and a shared vision. The results and progress we achieved so far would not be possible without you. I would love to hear from you: What are your key learnings from post-merger integrations? What worked – and what didn’t?

𝗟𝗲𝗮𝗱𝗲𝗿𝘀𝗵𝗶𝗽 𝗶𝗻 𝗧𝗶𝗺𝗲𝘀 𝗼𝗳 𝗘𝗰𝗼𝗻𝗼𝗺𝗶𝗰 𝗨𝗻𝗰𝗲𝗿𝘁𝗮𝗶𝗻𝘁𝘆: 𝗣𝗿𝗮𝗰𝘁𝗶𝗰𝗮𝗹 𝗧𝗶𝗽𝘀 𝗳𝗼𝗿 𝗥𝗲𝘀𝗶𝗹𝗶𝗲𝗻𝗰𝗲 In today’s fast-evolving world, uncertainty is the only constant. From global trade tensions to rapidly shifting markets, CEOs—especially in financial services-are navigating a complex intersection of challenges. It is not just about managing internal changes; it is about responding to customer needs, adapting to disruptions, and leading teams through unpredictability. In my experience, leadership in these times isn’t automatic, it demands deliberate action, clear vision, and a purposeful approach. I’d like to share some strategies that I have used in my leadership journey to navigate uncertainty, build resilience, and drive success: •𝗟𝗲𝗮𝗱 𝘄𝗶𝘁𝗵 𝗧𝗿𝗮𝗻𝘀𝗽𝗮𝗿𝗲𝗻𝗰𝘆, 𝗖𝗮𝗹𝗺, 𝗮𝗻𝗱 𝗩𝘂𝗹𝗻𝗲𝗿𝗮𝗯𝗶𝗹𝗶𝘁𝘆: Leaders often feel pressured to have all the answers. However, acknowledging challenges and being transparent about what you know—and what you don’t—builds trust with your leadership team. By leading with calm and vulnerability, you create an environment where innovation and adaptation can flourish. •𝗘𝗺𝗽𝗼𝘄𝗲𝗿 𝗬𝗼𝘂𝗿 𝗟𝗲𝗮𝗱𝗲𝗿𝘀𝗵𝗶𝗽 𝗧𝗲𝗮𝗺: Ensure the C-Suite has the authority, resources, and support to drive their areas of the business. When your leadership team has autonomy, they are better equipped to make decisions that guide the organization through uncertainty. •𝗘𝗺𝗽𝗮𝘁𝗵𝘆 𝗮𝗻𝗱 𝗔𝗰𝘁𝗶𝘃𝗲 𝗦𝘂𝗽𝗽𝗼𝗿𝘁: Leadership isn’t just about strategy; it’s about understanding the pressures your team faces. Regular check-ins and support help your leadership team feel valued and equipped to perform with resilience. •𝗕𝗮𝗹𝗮𝗻𝗰𝗲 𝗦𝗵𝗼𝗿𝘁-𝗧𝗲𝗿𝗺 𝗔𝗰𝘁𝗶𝗼𝗻 𝘄𝗶𝘁𝗵 𝗟𝗼𝗻𝗴-𝗧𝗲𝗿𝗺 𝗩𝗶𝘀𝗶𝗼𝗻: addressing immediate challenges is important, great leaders keep the long-term vision in sight. Align your decisions today with the future goals to ensure your leadership team is always working towards broader objectives. •𝗘𝗻𝗰𝗼𝘂𝗿𝗮𝗴𝗲 𝗜𝗻𝗻𝗼𝘃𝗮𝘁𝗶𝗼𝗻 𝗮𝗻𝗱 𝗔𝗱𝗮𝗽𝘁𝗮𝘁𝗶𝗼𝗻: Uncertainty brings both challenges and opportunities. As a CEO, you must foster a culture where your leadership team feels empowered to innovate, take risks, and adapt to changing circumstances. Businesses that embrace change will thrive. •𝗕𝘂𝗶𝗹𝗱 𝗖𝗼𝗹𝗹𝗲𝗰𝘁𝗶𝘃𝗲 𝗥𝗲𝘀𝗶𝗹𝗶𝗲𝗻𝗰𝗲: Resilience thrives when teams work together. When your leadership team is aligned and resilient, the entire organization becomes better equipped to weather challenges and seize opportunities.  Leadership is about empowering teams, navigating uncertainty with clarity, and building resilience for long-term success. By embracing these values, we can shape a future defined by trust, innovation, and strength. How are you empowering your teams to rise above the challenges of today? Let’s continue the conversation-share your thoughts on leading through uncertainty and how we can all adapt and thrive.

During a recent call, a CEO friend told me he felt his Board was becoming too involved in management and that parts of the Delegation of Authority were no longer truly empowering him. After sharing my thoughts and experience as Ex-CEO and Board Director, I felt like writing them here. A very delicate judgment calls for Boards: 𝗪𝗵𝗲𝗿𝗲 𝗱𝗼𝗲𝘀 𝗼𝘃𝗲𝗿𝘀𝗶𝗴𝗵𝘁 𝗲𝗻𝗱 𝗮𝗻𝗱 𝘄𝗵𝗲𝗿𝗲 𝗱𝗼𝗲𝘀 𝗺𝗮𝗻𝗮𝗴𝗲𝗺𝗲𝗻𝘁 𝗯𝗲𝗴𝗶𝗻? Facts confirm the 𝘁𝗲𝗻𝘀𝗶𝗼𝗻:   • Only 22% of CEOs say they feel effectively supported by their Boards in a rapidly changing environment   • 𝟯𝟮% 𝗼𝗳 𝗲𝘅𝗲𝗰𝘂𝘁𝗶𝘃𝗲𝘀 𝘀𝗮𝘆 𝗱𝗶𝗿𝗲𝗰𝘁𝗼𝗿𝘀 𝗮𝗿𝗲 𝗶𝗻𝘁𝗲𝗿𝗳𝗲𝗿𝗶𝗻𝗴 in day-to-day operations, double the prior year What should Boards test before deciding whether to step in or step back? ✅ 𝗦𝘁𝗮𝗿𝘁 𝘄𝗶𝘁𝗵 𝘁𝗵𝗲 𝗻𝗮𝘁𝘂𝗿𝗲 𝗼𝗳 𝘁𝗵𝗲 𝗶𝘀𝘀𝘂𝗲   • Lean in on CEO succession, major M&A, crises, capital allocation and key Execs departures   • Stay out on operations such as pricing decisions, sales plans, org charts and day-to-day operating fixes   • Ask first: is this truly a governance issue, or are we drifting into management territory? ✅ 𝗧𝗲𝘀𝘁 𝘄𝗵𝗲𝘁𝗵𝗲𝗿 𝗺𝗮𝗻𝗮𝗴𝗲𝗺𝗲𝗻𝘁 𝗶𝘀 𝘀𝘁𝗶𝗹𝗹 𝗶𝗻 𝗰𝗼𝗻𝘁𝗿𝗼𝗹   • Lean in when facts are unclear, response speed is weak or risks are escalating   • Stay out when the CEO has a credible plan, clear ownership and visible momentum   • Example: one delayed project is not a Board issue; repeated missed commitments may be ✅ 𝗨𝘀𝗲 𝘁𝗵𝗲 𝗖𝗵𝗮𝗶𝗿 𝗮𝘀 𝘁𝗵𝗲 𝗽𝗿𝗲𝘀𝘀𝘂𝗿𝗲 𝘃𝗮𝗹𝘃𝗲   • The Chair-CEO relationship is very critical for Board success. The Chair should engage the CEO early before tension spreads across the full Board   • Avoid five directors calling management separately   • Example: if confidence is slipping, Chair to align first with the CEO privately before raising it in the room ✅ 𝗕𝗲 𝗰𝗹𝗲𝗮𝗿 𝗼𝗻 𝘁𝗵𝗲 𝗕𝗼𝗮𝗿𝗱’𝘀 𝘃𝗮𝗹𝘂𝗲   • Bring judgment, challenge and perspective. Do not try to run the business   • Ask value-add difficult questions management may be avoiding   • Example: “What would need to happen for this plan to fail?” Good Boards know when to support. Great Boards know when to step in without stepping over. 💡 How does the Board add value while enforcing management accountability and engagement? #BoardDirectors #CorporateGovernance #Leadership #BoardEffectiveness #CEO #Strategy #Governance

Six years. That's how long it took from our first conversation to signing a planning contract with a Japanese client. Six years of the same questions asked multiple times. Six years of circular discussions that felt like we were going nowhere. Six years of wondering if we were wasting our time. I’m sure you’ve felt this frustration yourself. I've watched countless Western managers hit the same wall — brilliant professionals who start questioning their own competence because their Japanese counterparts keep asking questions they've already answered months ago. So why do Japanese companies operate this way? It goes to the core of Japanese business culture. It's rooted in a fundamentally different definition of risk and reward. In the West, we're taught that the biggest risk is moving too slowly — missing opportunities, losing competitive advantage, letting the market pass us by. We talk about "windows of opportunity" that will close if we don't act fast. And the reward? Personal advancement. Career wins. Proving you can close deals quickly. In Japan, it's different. Personal ego and career advancement through quick wins aren't the primary motivators. Japanese organizations move forward on a different time scale. The reward isn't individual glory — it's collective success and long-term stability. They'll willingly let time-sensitive deals pass by if they're not certain. They'll watch competitors move ahead rather than rush into a situation they can't fully trust. Because they're not measuring success on the same yardstick we are. It's not about speed. It's about thoroughness. Reliability. Avoiding mistakes. Getting it right the first time — with the right partner and the right technology. When you understand this, the circular process makes perfect sense. They're not being indecisive. They're being diligent. Every repeated question isn't poor memory — it's testing you for consistency. Every additional meeting isn't inefficiency — it's reducing uncertainty and building internal consensus. What can you do differently? First off, you need to stop measuring progress by Western standards. A fifth meeting that covers familiar ground? You might think it’s a waste of time, but for your Japanese counterpart it might actually bring the breakthrough — because it has added the missing layer of clarity and trust. Prepare for the long game. Document everything meticulously (they will). Stay consistent in your answers. Embrace the repetition rather than resenting it. Be open to share more than you would with other clients. And most importantly: adjust your definition of success. If you're optimizing for speed, you might want to move on. If you're optimizing for a partnership that lasts a decade, suddenly those years of patient work start to make sense. The client who finally decides to go with you after two years of conversations? They'll be with you forever.

America's power grid has lots of capacity waiting to be unlocked. We need to build more transmission, but we also need to unlock all of the unused capacity from the transmission we have already built. Duke researchers found that the grid operates at just 53% of its capacity across regional systems. Meanwhile, utilities are raising rates faster than inflation, and grid congestion is costing ratepayers billions every year. Dynamic Line Ratings (DLR) could change that. The technology is proven, deployed globally, and ready to scale. National Grid in the UK is using it across 275 km of overhead line, saving consumers an estimated £20 million per year — with capacity gains that actually increase when offshore wind is producing most. That's not a pilot. That's a system-level transformation. So why aren't US utilities moving faster? The honest answer: incentives. Utilities earn returns on capital investment. New poles, new wires, new transformers go into the rate base and generate guaranteed returns. DLR can cost 95% less than reconductoring a line — which is great for ratepayers, but means a much smaller return for the utility. The regulatory environment shapes the decision, every time. PPL Electric deployed DLR instead of reconductoring and saw a 10–30% capacity increase, in less than half the time, with zero line outages, and an estimated $64 million in congestion savings. The economics work. The regulatory architecture doesn't — yet. Virginia just passed a first-of-its-kind grid utilization bill. It's a start. But FERC and state regulators need to build the incentive structures that make DLR deployment the rational choice for investor-owned utilities. The technology is ready. The policy just has to catch up. I sat down with Vishal Kapadia of LineVision who has transformed their product line into something that Utilities are finding much more appealing.

I had been with my previous employer for a long time, so I knew a layoff might eventually happen. I thought, “All I need is a solid, updated resume, and I’ll be good to go.” Oh, how naïve I was! 😊 Looking back, there are a few things I wish I had prepared earlier to make the transition smoother. Here are my takeaways: • LinkedIn Set up your profile. LinkedIn has great guides to help you, but it takes time and effort to make it truly shine. Grow your network. Start now! Connect with current colleagues, former co-workers, friends, and family. Your network is more powerful than you realize. • Learn how to use AI tools: AI is a game-changer. Whether it’s tailoring resumes, brainstorming interview responses, or negotiating offers, it’s an incredible resource I didn’t even know existed! • Resume: Yes, you need an excellent, updated resume—but here’s the catch: you’ll need to tailor it for every single job application. It’s worth the effort! • References: Start gathering references now. It’s so much easier to ask while you’re still in a role than after you've left. • Document your achievements: You’d be amazed at how hard it is to recall accomplishments when you’re under pressure. Keep track of them now! Old performance reviews can be a goldmine for this. • Prepare for stress: Being unemployed is stressful, even with a good severance package. The job search process can be disheartening—rejections, ghosting, and no responses can make you doubt yourself. Build a support system now, whether it’s friends, family, or a community. For me, daily journaling has been a lifesaver. Despite the challenges, I’m staying positive and focused on finding the right opportunity—one where I’m the perfect fit for the company, and the company is the perfect fit for me. I know it’s out there; we just haven’t found each other yet!