The Director's Onboarding Playbook

[00:00:00] Intro: Welcome to Minutes by boardcycle, where in each episode we pack the insights from one of Australia's boardroom leaders into just a few minutes. 

[00:00:10] Today, join host Richard Conway as he interviews Julie Coates, Director of Wesfarmers and the Green Building Council of Australia, and former CEO and Managing Director of CSR, as they discuss how non-executive directors should approach on-boarding themselves to a new company. 

[00:00:28] Richard Conway: Welcome to Minutes By boardcycle. I'm your host, Richard Conway, and today on the podcast I'm pleased to be interviewing Julie Coates. Julie is the Director of Wesfarmers and the Green Building Council of Australia.

[00:00:40] In her executive career, Julie was the CEO and Managing Director of CSR Limited, Managing Director for ANZ for Goodman Fielder, and held a number of C-suite roles at Woolworths.

[00:00:51] And today, Julie's kindly agreed to talk to me about how non-executive directors should approach onboarding themselves to a new company. Welcome, Julie.

[00:01:00] Julie Coates: Thanks, Richard. Great to be here.

[00:01:02] Richard Conway: So Julie, you joined Wesfarmers as a director in May 2025, which is obviously a huge and complex company and a conglomerate of different businesses. Could you outline the approach that you've taken to onboarding yourself as a Director and what were the key things you were trying to understand and what kind of timeframe did you give yourself for that?

[00:01:25] Julie Coates: Richard, I think the process of onboarding and certainly for me in the case of Wesfarmers started well before I joined the board. As you said, I joined in May, and prior to that I had met with each of the other non-executive directors one-on-one. And I guess that was a two-way process: them getting a level of comfort around me, and me understanding a bit more around board dynamics, what was important to each of the NEDs? What were they focused on? Where did they see the strengths and also the opportunities for the business?

[00:01:58] So that was a really important process isn't, and it's also important in terms of trying to get a bit of a lay of the land of who's worked with who before, and just how some of those board dynamics work.

[00:02:10] And so I'd say it starts well before. That's the first thing, or it certainly did in my case. The second thing is that I was quite purposeful about when I'd start and the timing of that. So that wasn't just, when it happened to be - my joining the board was announced in October for a May start - so I had a kind of a period of time, to get ready. But also the may date was important because that's when they have what they call their week-long residential director seminar.

[00:02:43] And so, you offsite management come in each of the divisions to present their strategy and plans for the next five years. You have board dinners with management. And so, it was a wonderful opportunity and great timing in which to start. And I had that flexibility and the chair and I agreed that would be appropriate.

[00:03:03] That was then important in setting up the rest of the inboarding or the induction if you like.

[00:03:09] So I'd started, so out of that process I generated a whole series of questions and things I wanted to follow up on as I then went embarked on the induction program. And that's involved, day-long sessions with each of the management teams of each of the divisions.

[00:03:26] 'Cause as you say, it's a conglomerate of businesses. They're all run quite separately. So you need to actually understand each of those businesses as well as the whole. And so I've been busy spending time in Melbourne with each of the management teams. And that's an ongoing process and that's been quite important.

[00:03:45] Richard Conway: And Julie going back to what you were talking about, talking to each of the directors one-on-one. Other than dynamics are you trying to get a feel, an understanding for specific skills or areas of interest of the existing directors and how yours will fit in with the rest of the board, or what else are you trying to feel out there?

[00:04:04] Julie Coates: Yeah, look, I think that is part of it. It's kind of obvious based on what, you know, their backgrounds are. So understanding their backgrounds you with, and just talking to them about what they've done.

[00:04:15] Helps you with what it is where they are more likely to be adding greater value to the board and also as part of that where you can add value.

[00:04:23] But to be frank, the board was pretty clear on, and the chair was pretty clear on, what they were looking for my appointment to the board, which is about, they were looking for someone both with retail experience but also having been a publicly listed CEO.

[00:04:37] I knew from the get go that was important and I feel very fortunate to be on that board to be honest. It's a really well run business and highly successful.

[00:04:46] Richard Conway: And looking at the management side of onboarding, Julie. You talked about spending time with the Managing Directors of each of the business units. What are you trying to do to build the relationship with management and how are you thinking about an appropriate amount of time for them to be spending with you versus not distracting them, etc.

[00:05:06] Julie Coates: It's a really good point, and I'm very cognisant of that, having just finished my executive career. And in some ways, I've let the leaders of each of the business units determine that.

[00:05:18] So, there is a prescription about what you should do on the induction, which is kind of run out of the company secretary's office. But then after that I kind of leave it to them about where they think it makes sense and where I might be able to add some value.

[00:05:34] So for example, I spent some time with the health team and out of that they then asked me if I would I come and have a look at the new DC, which I did. Similarly with Officeworks, 'cause I was involved in the setup of that business originally back in the day, you know, the Managing Director there who's relatively new, has been keen to get me involved. We've walk stores together. It's kind of in their hands and I'm keen to add value where I can and where they think it makes sense.

[00:06:00] Richard Conway: Yep. And Julie, you mentioned that the company secretarial team's running that onboarding and it sounds like they've got a pretty solid program going on there for you. But I wanted to ask you, outside of the formal program, are there other things that you are trying to do independently in your own right to get your head around this new business or onboard yourself that it, perhaps conceptually the company's not aware of?

[00:06:25] Julie Coates: Yeah. Look, I try not to do anything that I wouldn't want the company to be aware of. But obviously, because there's a large part of this business that has retail businesses, it's pretty easy to get into market and have a look at what you see from a customer and a consumer point of view. That's a relatively easy thing to do. You know, I like, I like retail and so, spending time in stores is kind of an obvious one. I also have an interest in supply chain and logistics and the team have been pretty keen to get me involved in that.

[00:06:56] And just making sure you're up to date with what the market is also saying about the business and the strengths and the opportunities. So, I get copies of analyst reports, etc., just because of the relationship I have from previous roles. And I think that is important as a board director to understand because obviously a key part of the role is to ensure that you are creating value for shareholders - and so, understanding how investors, analysts are seeing the business, I think is really important. Outside of what you might see in the board room.

[00:07:29] I think the other thing about Wesfarmers is they're very keen to ensure that directors are as well informed as possible. So, for example, we're about to go on a board and management study tour internationally for a week this month and you know, they organise all that. So, I'd call it a very open relationship between board of management and a very constructive one.

[00:07:50] Richard Conway: Yep. And Julie, going back to the CoSec's role in this, what are you hoping to get from the CoSec in terms of supporting you in the onboarding? And in particular, I'm interested, perhaps you can think about this from your role at CSR as well, when you are perhaps not in such a large company as Wesfarmers and you might not have the resources to do a huge onboarding for non-executive directors.

[00:08:17] Julie Coates: Yeah, look, the role of CoSec is really important, and think for two reasons. At Wesfarmers, as you say, because of size and scale, we're very fortunate to have a very capable board coordinator whose job it is to manage the board and coordinate board activities. Which is really helpful for, I imagine both Wesfarmers management, but also for the non-executive directors.

[00:08:39] But the two things that I think are important is they coordinate the induction process for the new director, but in addition to that, they also ensure management is clear on what should be covered and the expectation.

[00:08:53] And so, they kind of play that very important role between management and directors to ensure that the induction is timely, fit for purpose. They streamline the meetings so that it's an effective use of time and we try and coordinate when I go to Melbourne that I'm with more than one business doing more than one thing and that's really helpful.

[00:09:12] Richard Conway: Yeah, absolutely. And Julie, I guess in an executive scenario often, the idea in onboarding yourself is to make an impact within a certain amount of time. Have a 90-day plan as an executive to achieve certain things within that time. Do you have a similar kind of thought process when you're coming in as a non-executive director, or is it very different to that?

[00:09:35] Julie Coates: I think it's both, right? So I think it's similar in that you want to make an impact, obviously. If you are investing time in something and you've got an interest in it, you'd like to add value and you'd like to make a contribution. But, acutely aware that that contribution is very different as a non-executive to an executive.

[00:09:55] And so, it's not the same role. But, I think a 90-day, you know, I certainly have had a 90-day plan in my mind of what I wanted to have achieved, in the first three months of May, June, July.

[00:10:05] And then, more importantly, the first six months, which takes us to the AGM. And within that process, in that six months, I've had the directors seminar. We've had our full year results. So I've been through that process with the board. And actually, you need to live through the board meetings and the committee meetings and the kind of annual cycle of things that every company has, for you to be better equipped to make more of a contribution the next lap, if you like.

[00:10:33] So I very much see the importance of experience, particularly in a company that's as of that scale and well run. Your contribution is gonna be limited, and I think, it's important to be patient around that. And that's not my strong suit. But you are there for a reason and you’re one of many, and you know you can take your time to kind of find your place and find your seat at the table. I think that's important.