This being my very last article for Investor Relations magazine as chairwoman of the International Investor Relations Federation, I thought I should seize the opportunity to recall some of the highest points of my three year tenure.
People & Places
An organisation is nothing without its people, and ours at the IIRF are top notch. I especially want to salute my fellow Executive Board and Governing Council members, each of whom brought his or her own special talents to the IIRF to make it truly a ‘melting pot.’Three in particular worked side by side with me and are ‘the power behind the throne.’ Frans Bedaux served as joint vice chairman and our capable finance officer. He also served as my proxy at meetings when I couldn’t make it and always offered an excellent perspective on who was thinking what and why. I am also sure he spends more time in New York City than I do.
Klaus Jessen shared with Frans the honors of joint vice chairmanship, and always kept us honest through his meticulous attention to detail. It cannot be overstated how essential his contribution has been to the IIRF as an organisation that must pay attention to unique cultures of countries around the globe. He may present me with a policy manual on IR since I am convinced that he always thought that was the missing element of my IR programme.
And then there’s Neil Ryder, secretary of the IIRF, who has been the one who always pushes us to move more quickly and into new frontiers. Neil is the master writer of prolific memos and is always available via telephone no matter what time of day or night for consultation and/or conversation.
As for the places. Paris, London, Milan, Frankfurt. Who could ask for anything more? As head of the IIRF I learned to consider a trip to the UK or the Continent as casually as if I were leaving for a two day break in the country. I am now the consummate jet-setting executive flying over to Europe for a three hour meeting and immediately returning to the US on the evening plane. One of these days, I may actually be able to visit for a few days and enjoy these cities.
Globalisation of the IIRF
Over just a few years, we saw attendance at our conference go from barely 100 to nearly 400 last year in Frankfurt. And it wasn’t just the same familiar faces each time. It was truly exciting for me to meet the first IR representative from Venezuela to attend our conference, the first from Malaysia, the Korean and Japanese delegations and the entire delegation from Finland who attended the conferences each and every year. It was never a chore to take a phone call from an IRO in Tel Aviv or New Zealand who wanted information on the IIRF.
The Challenges
Many of the challenges, I hasten to say, remain unsolved. The issues are compelling: How do we get all the member countries involved? How do we increase membership beyond our core group of 15 and then get them to participate? How do we overcome – in a balanced and fair way – the language and cultural barriers? And how as chairman can I be everywhere all the time? The Rewards
Ahhh ! The privileges of chairmanship!
I can’t say I always traveled in style, but I certainly enjoyed the perks of being titular dignitary of a growing organisation. It meant I was in charge of opening and closing our annual conferences, and was ultimately responsible for just about everything the IIRF set out to do.
And of course I have had the attention of thousands by virtue of this column space so generously provided by Investor Relations magazine. These provided me with a lighthearted way to communicate on topics of essential interest to IROs around the globe including traveling, presentations, staffing, CEO handling tactics, home offices – not to speak of my garden, my swing, my house in Connecticut and, of course, my love of everything and anything feline.
The Accomplishments
While many of our accomplishments are (like investor relations) difficult to measure, there are a number of tangible products resulting from efforts I feel proud to have been part of. We are an official organisation. We have a brochure. We sponsor an annual conference that serves to educate, inform, motivate and entertain 400 professionals. We are about to take a giant step towards devoting our time to additional educational pursuits. We have raised the level of visibility from ‘Who Are You?’ to ‘How Can I Become A Member Today?’
The Personal Benefits
How much I learned! As much work as it was, running the IIRF was like a crash course in The World. For example, I had no idea I was personally keeping the entire IIRF delegation from dinner in London two years ago because it was incumbent on me to lead them to the dining room and be the first to take my seat.
I learned the difference between ‘global’ and ‘international,’ a subtlety that had escaped me before; and between ‘society’ and ‘federation.’ And I was humbled by the many talents of the members I met through the IIRF. The sharing of information was particularly valuable to me personally.
Vive La France!
The French delegation, Franois Archambault and Nicole Micheletti, arranged lunch at the Paris Bourse every year for the Executive Board and a celebration dinner in Paris on the anniversary of the formation of the IIRF.
I have always had a soft spot for the entire French delegation, especially after they provided transportation at the Versailles conference in brand new Peugeots, and wine and perfume as conference gifts. Their graciousness more than offset the inconveniences of the French legal system, which made it hopelessly complicated to establish the IIRF as a French organisation, requiring all documents in multiple languages and – as I recall vividly – my signature on 21 copies of the papers.
The Evolution
My first year of chairman was easy. I had so much energy, set high goals and was ready to take on the world and achieve the impossible dream. I intended to visit each and every country with an official stock exchange once a year. During my second year reality set in and my goals and ambitions became more realistic.
This final year has been a real challenge, testing me to the limit as I have tried to juggle my work and circumstances back home (a new position with greater responsibilities, and a new CEO coming aboard). I will definitely enjoy the opportunity to attend the IIRF conferences without feeling responsible for every missing name badge, upside down slide or last minute programme switch.
And So Farewell
Thank you all, IIRF members and interested parties alike (especially Kate Duncan and Patty Cullim), for helping me bring the organisation to where it stands today.
