What I’m Reading – Tony Pervan

Technology-centric businesses looking to scale is where director Tony Pervan’s passion lies. An Auckland-based director for Younity Limited and Verity Consulting, he has expertise across recruitment, consulting and professional services domains. 

This week, he shares a book that keeps CEOs front of mind and poses the question: what sets the best CEOs apart from others? 

What is the name of the governance/business book you’re reading (or can recommend)?

I’m reading CEO Excellence written by three senior partners at McKinsey – Carolyn Dewar, Scott Keller and Vikram Malhotra. The book seeks to reveal what sets the best CEOs in the world apart from the rest, and takes you through six core mindsets which, they argue, are the differentiators between the best and the rest.

How would you describe the style of writing?

It reads like a classic business book, but it’s very easy to consume because of the depth of the content and the personalised stories told by many of the CEOs who contributed to the discussion. 

The whole book is based on long-form interviews with 67 CEOs from some of the world’s greatest companies. As you would expect, it is filled with great anecdotes and stories from some of the best in the business, such as Satya Nadella from Microsoft and Reed Hastings from Netflix. It is the personalisation that makes it incredibly readable.

What drew you to the book? 

I found it by accident, but what drew me to it was the richness of the content. I have a thirst for knowledge and, in choosing this book, I wanted to explore more about what good business leadership looks like through an executive lens. 

In it, I found a treasure trove of real-world information and case studies. While it is based on listed Fortune 500 companies, there is much in the book that can be applied to any business, no matter how big or small.

What resonated with you the most?

Having the courage to be bold when setting vision and strategy was the concept I related to the most. It confirmed to me that you need to push the envelope when going through the strategic planning process, and that being overly conservative when setting your north star is not the recipe for sustainable success in the modern world.

What is something you’ve taken away from reading that now follows you into your board roles?

This book highlights how hard a CEO’s role is and how it can be lonely at the top, given the buck stops with them. It has given me a real appreciation of what an executive leader goes through, especially at the highest level, and the very best approach to the challenges they face. It’s given me a better understanding of my own managing director. And as a board member, it has given me more empathy towards the role, while also giving me a relevant framework to assess overall performance.

How does reading feed into your continued governance practice/learning?

I am a keen reader and have a natural desire to learn as much as I can on a variety of topics. Being curious and consuming a broad range of information is a core part of being a great board member. Reading something related to business or governance is something that I practise daily.

Who should read this book and at what stage in their governance career?

This is a book that I think anyone involved in governance can appreciate, no matter how experienced they are. There is a great section on board engagement written from the perspective of the CEO. Governance in the United States is different to what we are used to here, but it touches on a number of relevant topics such as board relationships, board capabilities and effective board meetings. It’s a great resource, full of great lessons and ideas that are well worth reading.

When you’re not reading books on business or governance, what kind of books are you likely to pick up? 

My other favourite type of books are biographies, particularly those of great coaches. I’ve recently finished Wayne Bennett’s book The Wolf You Feed, Steve Hansen’s The Legacy and have just started reading Wayne Smith’s book, Smithy. Coaching resonates strongly with me and there are some fantastic nuggets of gold you can find exploring the writings of great team managers. Legacy by James Kerr is another great book written about the leadership lessons of the All Blacks. 

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

Right now, economic challenges have emerged as being one of the primary issues we are facing in New Zealand. It appears many businesses are struggling for sustainable profitability in light of the recessionary conditions we are all currently facing. 

Seeing daily reports of job losses in the public and private sector is sobering. Ensuring we make good decisions as a board to ensure that our organisations not only survive this cycle, but also thrive coming out of it, are top of mind. In addition, the emergence of artificial intelligence and the impact of that technology on our future business models is something that I am watching closely, as well as some of the unintended consequences, such as privacy and concerns around cybersecurity.

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

My board chair has a saying: “Strong opinions, loosely held.” 

No one director has all of the answers, all of the time. I have discovered the power of expressing my views in a constructive way and have become comfortable being the sole voice of opposition, if the situation requires it. 

You can always influence your fellow directors if your ideas and convictions are good enough, and there is real value in being ‘uncomfortable’ around the table. At the same time, I am also open to having my opinion changed by those with better ideas – something which I struggled with early on in my career. These are all great lessons I’ve learned in the role.

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

Boldness. The world is changing faster than ever, and boards need to be thinking more about reinventing their businesses at a quickening pace. 

We now live in a BANI (brittle, anxious, nonlinear, incomprehensible) world, and with the advent of AI upon us, we need to embrace innovation, going beyond the proven methods of doing things. So, I’d love to see boards throw the ball out further when thinking about their vision of the future and being bolder in their decision making. 

We simply have to, in order to stay competitive, in an increasingly technologically advanced world.