Brendan Jennings

After stepping down as CEO of Deloitte Ireland in 2020, what led you to pursue non-executive directorships instead of full retirement?

My mind needs to be active - I’m not someone who can just sit around reading a book all day. You can only serve two four-year terms as CEO of Deloitte, but I was too young to retire and do nothing. I knew I wanted to stay engaged in business, but at a different pace than before. Initially, I even considered buying into a business, but I wanted to focus on something where I could make a meaningful contribution. Non-executive directorships became the obvious route for me.

How did you decide which boards to join?

I took my time thinking about the types of businesses and sectors I wanted to get involved in. In professional services, you work with whatever comes across your desk. This was the first time I had the luxury of choice. I wanted to work in areas where I had relevant experience and could add value.

How did your background prepare you for these roles?

Over my 38-year career with Deloitte, I had extensive experience working with boards. I had been in boardrooms with clients many times, so I understood board dynamics, governance, and what effective boards should be doing. I also had some experience serving on charity boards while at Deloitte, which helped me develop further insights. While I was confident, I could contribute, I knew there was still a lot to learn.

What role did the Institute of Directors Ireland (IoD) play in your transition?

I joined IoD Ireland several years before I retired because I wanted to improve my effectiveness as a director. IoD provides valuable insights and updates on governance, regulatory changes, and best practices. Coming from a professional association as a chartered accountant, I was already accustomed to maintaining high standards, and IoD membership comes with similar responsibilities. The networking opportunities have also been very beneficial - I’ve reached out to fellow members for advice and second opinions on board matters.

How did you go about securing your current board roles?

Listed companies typically use board placement firms for appointments, so I connected with several leading firms in that space. I shared my areas of interest and asked to be considered for any suitable opportunities. I’m very happy with the roles I have now. They align with my expertise, and I enjoy working with ambitious, successful businesses to help them achieve even greater success.

What value do you bring to the boards you serve on?

As a former CEO, I’ve dealt with nearly every aspect of a business - HR, marketing, IT, finance, strategy. I might not be an expert in all those areas, but I understand how they interconnect and impact a company’s performance. Also, coming from an advisory background, I have a strong risk mindset. When evaluating M&A transactions or investments, I instinctively look at potential downsides and challenges, which helps boards make informed decisions.

What are the biggest challenges facing boards today?

The pace of change is relentless. Businesses are dealing with hybrid working, digitalisation, increased competition, regulatory changes, supply chain disruptions - the list goes on. The challenge is managing these changes without overwhelming the organisation. Some areas require rapid transformation, while others need more measured evolution.

Do you see opportunities for Irish businesses despite these challenges?

Absolutely. Ireland is a small country in a big world, but you don’t need a huge market share to succeed internationally. We have great companies, talented people, and strong innovation capabilities. The key is to be clear about where you can add the most value and focus your efforts there.

What qualities make an effective non-executive director (NED)?

First and foremost, an inquisitive mind. You need to be curious, ask the right questions, and challenge assumptions. When you receive board papers, you’ll have plenty of potential questions - but identifying the critical ones is a key skill.

Another crucial ability is challenging in a respectful way. A good board member knows how to ask tough questions while maintaining a constructive and professional tone. This helps drive meaningful discussions and better decision-making.

How has board transparency evolved in recent years?

There has been a significant shift towards greater transparency across all sectors. Fifteen years ago, PLC annual reports were around 30 pages - now, they’re often hundreds of pages long. Even private companies have embraced greater openness, recognising their broader role in society.

How should boards balance strategy and compliance?

Boards must find the right balance between strategic oversight and regulatory compliance. The goal is to build a sustainable business while ensuring the company meets its legal and governance obligations. This challenge is especially noticeable in the non-profit sector, where compliance often consumes a significant portion of board time.

How can boards improve their effectiveness?

Self-reflection is essential. After meetings, board members should ask themselves, did my contributions add value today? Formal board evaluation processes are also very useful, along with one-on-one conversations between directors and the chair in a safe environment. Many companies use the IoD for board evaluations and board training, which is invaluable - expert insights can help bridge the gap between governance theory and practical application.

What advice do you have for aspiring non-executive directors?

Take your time before accepting a board role. Don’t rush into the first opportunity that comes your way. Think about what you’re truly interested in and where your skills can add the most value. Do your homework on the business before you join - understanding its culture, financial health, and governance structure is crucial. For those without prior board experience, IoD training is a must. If you don’t know the rules, you can’t play the game.

Finally, what advice do you have for board chairs?

Clarity is key. The board must be very clear about where its role begins and ends. If the line between the board and the executive gets blurred, governance falls apart. A well-functioning board focuses on oversight and strategy, not day-to-day operations.