Directors have very specific responsibilities under Australian corporate law. The management runs the corporation, the board provides oversight, ensures compliance with legal requirements, and protects the interests of the shareholders.
If directors start interfering in the running of the corporation, disaster can follow. Incidentally, a good friend of mine was Chairman of the ARU for a few years. An acquaintance of mine had a son who was a pretty well regarded rugby league player at the time, and he mentioned to me that he was open to a possible offer from our code. I rang my buddy, the Chairman, and he told me that he, and the other directors, were at pains not to interfere in executive decisions. Which is, of course, as it should be, albeit this was a pretty trivial matter. I hope it is still the case, and always will be.
He was certainly not a banker incidentally. He had a long career in club rugby, and played 20 or so internationals.
Speaking of your favourite whipping boys, John O'Neill was a banker, and did a pretty good job for us. He might have been a pretty good Chair, if he had been willing to take it on. But he wanted to be Executive Chair, which would have meant we had a one horse show. The potential for disaster is obvious.
Gail Kelly was a banker, and I think most people would say that she would have been a brilliant Chairperson for us.
Let's get the best executives we can, and give them the space and resources to innovate, without having directors looking over their shoulders and second-guessing them.
Networking is an important part of the unwritten responsibilities of a director, incidentally. Particularly in a sport like ours that relies heavily on corporate support.
As a final point. David Clarke, a banker, put his hand in his pocket and pulled out $7 million I think it was to save NSW rugby after the Ken Elphick scandal.
