The potential to lift the organisation’s profile and attract donationsAn ability to assess complex issues quicklyThe knack of multi-taskingConnections in governmentAn understanding of government and regulatory processesKnowledge of and experience in dealing with the print and social mediaAn understanding of how decisions affect the community and the likely response Former NSW Premier Nick Greiner FAICD AC is a good example. He is often singled out for making the strongest transition from politics to directorships, having chaired or been a director on a long list of boards over a stellar governance career. Some of his current roles include chairing the Bradken Group, QBE Australia’s operations board and Infrastructure NSW.
Former deputy Prime Minister and Minister for Trade Mark Vaile AO has also built one of the strongest board portfolios after a political career. He chairs the multi-billion-dollar producer Whitehaven Coal and the listed clean-technology company CBD Energy, and is a non-executive director of Servcorp and Virgin Australia. Vaile’s trade skills have made him in demand in boardrooms.
Former federal minister Warwick Smith has also made a good transition from politics to boards and executive roles. Smith is ANZ state chairman for NSW and the ACT; past chairman of E*Trade; chairman of the advisory board of Australian Capital Equity, the private holding company of Seven Group Holdings; and is a former Macquarie Bank executive director. Like Greiner, Smith was able to leverage his skills and industry knowledge and stayed out of public debate after leaving politics.
Former NSW Premier and Federal Minister for Finance John Fahey has built a solid portfolio of directorships, having served on a range of charity, sporting, toll road and some corporate boards. Keith De Lacy was founding chairman of Macarthur Coal and helped take it from a $128 million explorer to a $4.8 billion producer before it was taken over last year.
Former Western Australian Premier Richard Court AC has also built a portfolio of directorships in mining and mining services boards.
Foreign companies might have greater demand for ex-politicians who understand international relations and trade and help lift the organisation’s profile in Australia. For example, former Minister of Foreign Affairs Alexander Downer and former Victorian Premier John Brumby sit on the Australian board of controversial Chinese telecommunications company Huawei Technologies.
Other ex-politicians are making the transition to boards: former Minister for Superannuation Nick Sherry was appointed chair of financial services technology provider FNZ Australia in August.Former Senator Nick Minchin, who was Finance Minister and Defence Minister, former Federal Minister for Finance Lindsay Tanner and ex-Queensland Premier Anna Bligh also seem like logical board candidates in the not-for-profit or for-profit sectors.
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