What I’m reading – Amy Cavanaugh

Amy Cavanaugh is on the Institute of Directors (IoD) Mentoring for Diversity Programme (2024/2025) and part of the Steering Committee for the Young Director’s Shared Interest Group. 

Based in Tāmaki Makaurau Auckland, she is head of transformation (Corporate Trustee Services) at the Public Trust, and brings a strategic, transformation and innovation lens to the board table, with a focus on financial services. 

She currently sits on the Supported Life Style Hauraki Trust, which provides support to people with mixed abilities and those rehabilitating from traumatic brain injuries, and is a board member of AFS Intercultural Programmes New Zealand, an education exchange programme that supports both students, volunteers, and local families to engage in international cultural experiences. 

This week, she shares a mix of books and podcasts that inspired her thinking around resilience, effective leadership and the grit required to get to the finish line. 

What is the name of the book, podcast or other media that is currently inspiring you as a director? 

I’ve just finished reading Do Hard Things: Why We Get Resilience Wrong and the Surprising Science of Real Toughness by Steve Magness. Over summer I read Reimagining Capitalism in a World on Fire by Rebecca Henderson. I’ve also been inspired by the Outside In with Charles Trevail podcast, which explores how businesses and boards can adapt to the shifting landscape of governance, innovation and leadership. 

I enjoy reading books with conversational tones, with a mix of science-backed theories and the author’s own stories and experiences, making it easy to digest the sometimes-heavy and confronting insights. 

What drew you to the two books? 

I’ll be honest and admit the titles of these books caught my eye. I look for non-fiction books that cut through the clichés and give me evidence-based insights that I can apply to my own situation, ambitions, leadership style and the way I support others to thrive under pressure. 

I’m fascinated by the link between resilience, adaptability and effective leadership, both in governance and in life more broadly. As a long-distance runner and avid gym-goer, I’ve learned firsthand that grit isn’t just about pushing harder – it’s about how you manage your mind under pressure. That’s equally true when you’re in the boardroom facing complex decisions or navigating change. 

What resonated with you the most? 

In Do Hard Things, the quote that stuck with me is: “Real toughness is experiencing discomfort or distress, leaning in, paying attention and creating space to take thoughtful action. It’s navigating discomfort to make the best decision possible.”  

That absolutely applies in governance. We’re often making decisions in grey areas, with incomplete information, differing viewpoints or external pressures. The ability to stay present, avoid knee-jerk reactions and hold space for considered thinking, even when things feel uncomfortable, is essential. 

What is something you’ve taken away from it that follows you into your role on boards?

A recurring theme in the various materials I engage with is the significance of posing the right questions. Whether it’s about resilience, data bias or future governance trends. Books and podcasts have reinforced that good governance isn’t about always having the answers but having the courage to ask the questions others might avoid. 

For me, that includes asking how decisions impact diverse groups, whether we’re designing for everyone and how we build governance structures that support innovation, rather than slow it down. 

It is crucial to cultivate a culture of authenticity in the boardroom where questions are encouraged and fully examined, and new ideas are received with an open mind. 

When a tough conversation arises, or a decision feels uncomfortable, it’s easy to default to defensiveness or avoidance. Instead, I now try to name the discomfort (at least to myself), understand where it’s coming from and make space for that thoughtful pause before responding. It’s a simple shift, but it’s powerful, especially when leading through transformation or uncertainty. 

How does the media/books you consume feed into your continued governance practice and learning? 

Reading and listening to podcasts allows me to stretch my thinking beyond my own experience. 

As a younger director, it’s important to balance fresh thinking with practical governance strategies and I’m very aware that experience isn’t the only thing that adds value at the board table – fresh thinking, curiosity and outside perspectives matter just as much. 

For me, reading is a way to step outside my own lived experience and hear from thought leaders across different fields, whether that’s high-performance sport, psychology, politics or business. 

In governance, we’re often solving problems that don’t have clear answers so I believe the more diverse perspectives I can bring to the table, whether it be from books, podcasts, or conversations, the more value I can offer in the room. As a parent of two school-aged daughters, I also see this as part of a bigger picture and I want to role model the importance of lifelong learning, curiosity and critical thinking. 

Who should read these books or listen to the podcast? 

Honestly, anyone involved in leadership, governance or change would benefit from both books. Whether you’re an experienced chair navigating challenging decisions or a first-time director building your leadership identity, the insights on resilience, self-awareness, and adaptive thinking are universally useful. 

Do Hard Things is especially valuable for anyone who’s juggling governance alongside a demanding career, personal challenges or other leadership roles. So, most of us! 

When you’re not reading/ listening to business or governance content, what else piques your interest? 

I love books that challenge my thinking, whether that’s non-fiction about psychology and human behaviour, or novels that explore complex characters and relationships. I find that stories, whether fact or fiction, are brilliant for building empathy and understanding different perspectives, which always feeds back into governance work in unexpected ways. 

What are some of the most pertinent governance issues at the top of mind for you, and why?

Two key governance issues that are top of mind for me are governing in an era of digital transformation and ensuring diversity leads to better decision making. Both are critical as boards navigate an increasingly complex and fast-moving environment. 

The rapid acceleration of digital transformation, particularly AI, automation and emerging technologies, is reshaping industries at an unprecedented pace. 

Yet, many boards still lack true digital fluency, making it difficult to provide strategic oversight or challenge executive decision making effectively. In highly-regulated sectors like financial services, this creates an even greater tension – how do we encourage innovation while ensuring compliance and mitigating risk? 

Boards can no longer afford to treat digital strategy as a specialist issue; it must be embedded into governance as a whole. To stay ahead, directors must be proactive, continuously learning and willing to ask the right questions: Where does AI create new risks?; How do we ensure ethical and transparent technology use?; Are we making decisions that future-proof the organisation, or are we simply reacting to change? 

At the same time, the conversation around diversity at the board table needs to evolve. It’s no longer enough to focus solely on who is in the room; we must ask if diverse perspectives are shaping decisions. 

Research consistently shows that diverse boards lead to better governance, risk management and long-term performance, yet many organisations still struggle to create inclusive environments where different voices are truly heard.

Young directors, women and underrepresented groups continue to face barriers, not just in gaining board seats, but in having their perspectives valued. True governance effectiveness comes when we foster a board culture where fresh thinking is encouraged, assumptions are challenged and decisions are made with a broader range of lived experiences in mind. 

Boards must move past ‘performative diversity’ and ensure that inclusion translates into real impact. 

What has been the most surprising thing you’ve discovered about yourself and others while being on a board?

One of the most surprising things I’ve discovered about myself while being on a board is how much confidence comes from asking the right questions, rather than always having the answers. 

As a younger director, it’s easy to feel the pressure to prove yourself by contributing solutions but I’ve learned that some of the most valuable moments – and impact – come from pausing, listening and then asking the question that shifts the conversation, or challenges assumptions. 

Good governance isn’t about having all the expertise in the room, it’s about creating the space for critical thinking, diverse perspectives and better decision-making. 

What has surprised me about others is how open and willing many experienced directors are to new perspectives when they are framed well. There’s often a perception that boards are slow to change but I’ve found that when younger or diverse voices bring fresh thinking to the table – especially when it’s backed by insight and a strategic lens – people listen. This has reinforced for me that governance isn’t just about experience, it’s also about perspective – the combination of wisdom and fresh thinking drives better outcomes. 

If there was anything you want to see more of at the board table, what would it be, and why?

I’d like to see more strategic foresight at the board table, with discussions that not only address immediate risks and compliance but also focus on where the organisation needs to be in the future. It’s essential for boards to embrace strategic thinking that accounts for the rapidly changing landscape of geopolitical shifts, technological advances, regulatory changes and societal expectations. 

In today’s world, governance must be dynamic and proactive, with a focus on spotting emerging trends, exploring innovative opportunities, and adapting strategies to future-proof the organisation, rather than simply ‘reacting’ to change or the next shiny solution to a problem. 

I also want to see more genuine inclusion of diverse voices in decision making because it’s not enough to have diversity at the table if the same perspectives always dominate the conversation. So, boards should actively create space for fresh thinking, challenge groupthink and ensure that all directors, regardless of age, background, or tenure, feel empowered to contribute meaningfully. The best governance happens when different perspectives are heard, valued, and used to drive better decisions. 

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If there is a book on your radar that you’d like to share, send an email to: sonia.yee@iod.org.nz