IoD Scotland Summer

Direction

SUMMER 2019

iod.com/scotland

The official membership magazine for the Institute of Directors in Scotland

Let’s stay connected

Why does leadership matter?

The turmoil facing Scotland and the wider UK makes it easy to see only the negatives but with the right leadership, there are still many positives for businesses to be excited about, says IoD Scotland Chair Aidan O’Carroll Since the last issue of Direction, we have continued to experience political gridlock in the UK Parliament, the need to hold elections to the European Parliament, a notice of intent from the SNP around a second Independence referendum, and continued global economic and political uncertainty.

And if things were not challenging enough, we see clear signs of investment in our economy potentially tailing off!

While we all have our views on how to get a handle on matters that are most important to us, there has never been a more important time for leadership across all aspects of the agenda, and our ability to rise above the uncertainty and continue to drive our economy forward, harness the extraordinary talents that our nation possesses and, importantly, ‘engage’.

The danger with all the political turmoil is that we start to disengage from the vital tasks that will continue to build a prosperous and forward-looking nation. It is easy to feel somewhat overwhelmed by events, and to focus too much on all that is not working the way it should. There is so much going on in Scotland, across business, public sector and third sector that we can be positive about. Most importantly we need to instil that sense of leadership that helps us to innovate, that promotes and harnesses talent, that connects aspiration to

Director of the Year Awards - see from pg 24

funding, and builds an energy around what can be achieved if we are bold and forward-looking.

At the IoD, we want to instil that sense of positive thinking; promoting, through our many courses and networking events, how leadership, learning how to connect, how to build, how to communicate more effectively can lead to a real and sustainable difference.

When our business community invests in learning, not just for its leaders but more broadly, all of the evidence shows it leads to a more productive workforce, a more profitable business, and in particular encourages more ambitious growth. If we are to take real advantage of the opportunities that have never been more exciting, we have to scale-up our thinking and harness the ambition across all sectors.

We all have our part to play, and at the IoD we want to promote not just best practice, but a sense of the “achievable” where the power of our community of talent can be focused on building that better world that we all want for our future.

Please take some time to read through this issue and see just how many things are going on in your local area. Our branches across Scotland want to hear from you and would love to connect you to that community of talent that we are committed to growing.

IoD Scotland & Direction IoD Executive Director: David Watt For email enquiries: iod.scotland@iod.com W: www.iod.com Address: 10 Charlotte Square, Edinburgh EH2 4DR T: 0131 557 5488 Direction is the official membership magazine of Institute of Directors Scotland and is published on its behalf by: Chamber Media Services, 4 Hilton Road, Bramhall, Stockport, Cheshire SK7 3AG Advertising sales: Colin Regan Tel: 07871 444922 / 01942 537959 Email: colinregan001@ yahoo.co.uk Production: Rob Beswick Tel: 0161 426 7957 / 07964 375216 Email: rob@chamber mediaservices.co.uk Editorial: Please send press releases or editorial for consideration for future issues of Direction to: Kirsten Paul Email: kirsten@clark communications.co.uk Although every effort is made to ensure the accuracy of material contained within this magazine, neither IoD Scotland nor Chamber Media Services can accept any responsibility for omissions or inaccuracies in its editorial or advertising content.

The views expressed in this publication are not necessarily those of the IoD. The carriage of advertisements or editorials in this publication does not constitute an endorsement of the products or services advertised.

Cover: David Watt, Executive Director, IoD Scotland Photo: Susie Lowe

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Executive comment

The Brexit merry-go-round and life from tee to green Executive comment: IoD Scotland Executive Director David Watt sets out the key attributes he feels all businesses need to embrace if they are to succeed in these challenging and often-confusing times This will be my final contribution to Direction in my capacity as IoD Scotland Executive Director, with the Brexit merry-go-round continuing to spin; but I am sure we can agree that the fun stopped a long time ago.

We are running out of words to express how fed up business leaders are of being stuck in limbo. The inability to make any decision is doing lasting damage to enterprise. The extension to Brexit means business leaders are probably a little relieved – but still confused.

Allowing the UK Parliament more time to decide what it wants to do is both good and bad, and there is a chance it might just be a delaying tactic for some, leading to further confusion for busy businesses and voters. For others it might be helpful for a crossparty agreement to be put in place so that the UK goes with a plan to Brussels on a joint basis – instead of just a minority view which leads to more discord.

The economic case for taking our time is a mixed bag, too. The more time we have, the less chaotic our eventual exit, however, the point remains; there is no end to our uncertainty. Unfortunately, I am departing the IoD at a point where we still have no idea what the long-term looks like, and its unclear when we will

receive this clarity. Businesses don’t want to see more of the same. They want to see politicians build consensus around a way forward that finally breaks the cycle of indecision.

It is vital that the few months’ grace we have been granted must be used productively, and not wasted on more political infighting. Politicians need to find a solution to their differences and get a plan in place to do minimum damage to our economic future.

One of the only saving graces is that individual organisations have some more breathing space and opportunity to ensure they are prepared. Those who feel they have done little already will hopefully realise how close we have come to the edge and use this time to ensure they are ready for the changes that will come.

The changes may be minor, or they could be cataclysmic, it is difficult to cover all the possible outcomes, but you can be sure that the unready will suffer most.

However, as I leave the post at the IoD in Scotland, I remain confident that we will find a way to continue to prosper, not only as business leaders, but as an economy and a country.

I feel like that because the reason I have remained in position so long is the sheer enthusiasm, commitment and

positivity of our members and others leading organisations all over Scotland.

The determination and optimism is palpable and infectious.

It has been a privilege to be able to work with, and get to know, you all over these past 16 years, and I am particularly grateful to all the volunteers – chairs and committee members, who have supported me so much all across Scotland from day one.

They are the IoD – the representatives of the members – who keep things going locally and bring ideas and dedication to the table.

Like the vast majority of our members I am not going to “retire” but move on to pastures new and perhaps do a little less in the future.

As I move on to these other activities and into more of a non-executive role, I would prefer this to be a ‘see you when I am wearing another hat’ rather than a final goodbye.

Certainly, some of that might be on the golf course, but wherever, I would not want to lose contact with the many members and friends I have developed at the IoD, and if I can help anyone moving forward, then just let me know.

Meanwhile, I’m off to get my clubs…

In Conversation with David Watt see pg 12

Take the next step with a Leadership Exchange Love your job but want to experience a new challenge? Then a Leadership Exchange could be for you.

Run by ACOSVO, the Leadership Exchange is open to directors from across the public, private and third sectors who want to learn from each other, develop an understanding of other sectors, cultures and environments, encourage collaborative working and improve leadership skill capacity.

Candidates are matched up with fellow directors in other sectors with the aim of increasing leadership capacity between

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peers. Exchange activities can involve: on-the-job shadowing; meeting colleagues or front-line staff; paired conversations; attending meetings or events together.

Nearly 400 leaders have been matched since 2012 and been able to gain an insight into the different cultures, constraints and opportunities their counterparts work with.

The programme runs for on average 6-12 months though due to the flexible framework, it’s up to you how much you and your match want to meet up during

that time.

Geoff Leask, Chief Executive, Young Enterprise Scotland, participated in the programme said: “It was a refreshing way for me to take time from the day-to-day operations of my organisation to reflect, share and learn from a leader from a different sector – outcomes on both sides have been very positive”.

If this sounds like something you would be interested in, the next 2019 application date closes on October 4. For more information, please visit: www. acosvo.org.uk/leadershipexchange WWW.IOD.COM

HIE mixes business with pleasure IoD members in the Highlands and Islands are only just recovering from a networking dinner where they welcomed Group CEO at The Insights Group, Andy Lothian, who spoke about his leadership experiences in growing a profitable business.

Andy took the group through the importance of being clear about WHY and building a community with great people who align with the plan, while also being prepared to make discriminating choices. Finally, he stressed the importance of not taking yourself too seriously as a leader.

A really motivating evening with great company (and pudding).

Don’t neglect value of your business data IoD Glasgow branch staged an event to inform directors about the challenges, opportunities and priorities in adapting their operations to exploit data for business benefit. Garry Bernstein, chief executive of Technology Leaders and founder of Tech Scotland Advocates, chaired proceedings, welcoming expert contributions from guest speakers Melinda Matthews-Clarkson, CEO of CodeClan and Jim McCumesty, head of Core Technologies at SAS. Jim explored how having some form of informatics expertise is expected to strongly influence the future well-being and success of every type of business.

He also drew powerful comparisons between our business data and our water. In a Scottish context, water is the essential ingredient in all of our high-value premium spirits exports. In the future, the innovations created by Scotland’s community of data professionals will establish new sources

competitive advantage and export potential for the country.

Finding and exploiting the hidden value in business data will require every company to adopt new skills. Melinda Matthews-Clarkson said: “Directors and executives in every sector now realise that a smart use of data is fundamental to the long-term success of their business.

“The challenge now is not only finding the talent they need, but ensuring the data team understands the company, its processes, customers and challenges to enable effective change.

“Who understands your business better than your employees? Giving your existing staff new skills builds upon the existing experience and expertise within the company and ensures that your data team is productive more quickly.”

Our thanks to all who attended and contributed so openly.

New Aberdeen Hub launched

Looking for some meeting space in Aberdeen? The IoD Scotland now has a new Hub in the granite city where you can base yourself or hold meetings.

Situated on Queens Road in the heart of the prestigious West End, Citibase Aberdeen is housed in a historic Jacobean style villa with an attractive modern extension.

As part of the partnership with Citibase, IoD members can benefit from a comfortable area to meet, work and network, with free WiFi and refreshments from a fully stocked kitchen. IoD members will be required to show their IoD Card or App as means of ID. If you would like to use the space, please call 01224 042130 or contact Kirsty Livingstone at Kirsty.livingstone@ iod.com or 07814 386129.

Director of the Year Awards: Full results - see pg 26 IoD Scotland Conference: see pg 28 WWW.IOD.COM

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News

Former Shell exec to lead Babcock International Babcock International has announced that Ruth Cairnie is to become chairman of the aerospace and defence company, succeeding former BAE Systems CEO, Mike Turner.

The FTSE 250-listed group said Cairnie will assume the role upon Turner’s

retirement at the AGM on July 18.

Cairnie joins the firm with extensive experience in the engineering sector gained from a 37-year international career spanning senior functional and line roles at Royal Dutch Shell plc, including a period as Executive Vice

President for Group Strategy & Planning.

Mike Turner hailed Cairnie as “a strategic thinker and strong leader who will bring her considerable in-depth experience and knowledge to benefit Babcock.”

Darren Sivewright with Elaine Gray and Laura Foreman

Emirates launches Glasgow A380 service to Dubai Flights from Glasgow to Dubai have just received the super-sized treatment.

Following an £8m investment at Glasgow Airport, Emirates has launched a daily service to the UAE using its ‘superjumbo’ Airbus A380.

The A380, which will service the route until the end of September while one of Dubai’s runways is resurfaced, saw hundreds of spectators flock to the airport, eager to catch a sight of the world’s largest commercial plane landing into Scotland for only the second time ever.

The double-daily service has been reinstated this month (June), with an A380 operating the first flight and a Boeing 777 on the second one.

The full-length double-deck aircraft has a typical seating capacity of 525 and has a range of 8,000 miles (14,800 km). There are only 235 in operation at the current time.

Baxters ‘soups up’ fundraising campaign for Macmillan Scottish food group Baxters has raised £117,000 for Macmillan Cancer Support, helping to support 350 people living with cancer.

The sum was raised through soup sales alongside other fundraising efforts and surpassed the £100k target set for its 150th anniversary year. The funds raised will be used to fund one Macmillan nurse for 25 months.

Staff at Baxters’ sites across the UK co-ordinated a range of fun activities fundraising activities, from sky dives and bungee jumps to raffles and race night

events to help generate vital funds for the charity.

In addition, the company produced a limited edition on-pack promotion which saw a proportion of sales from its Favourites soups donated to Macmillan.

Furthering their support, Darren Sivewright, Baxters’ chief innovation chef, dropped off tins of soup and scones made using Baxters’ jam for staff at Macmillan’s Information and Support centre at the Western General in Edinburgh.

All-in all, a soup-erb result.

Scottish Futures Trust publishes five-year plan The Scottish Futures Trust (SFT) has published its latest five-year corporate plan detailing how the group will prioritise work towards a vision of world-class infrastructure for the people of Scotland.

Recognising that high-quality infrastructure underpins inclusive economic growth, sustainable communities and the effective provision of public services, the government has set a national infrastructure mission to increase infrastructure investment by up to £1.5bn per annum over its £5.2bn

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2019-20 baseline, so that it reaches £6.7bn in 2025-26.

In addition to aiming to bring public and private partners together, the plan will also look to deliver investment programmes in public infrastructure effectively, especially programmes which span multiple organisations such as schools’ investment and elements of the national infrastructure mission which need new financing approaches to be delivered.

Commenting on the report, Peter Reekie (pictured), chief executive of the

Scottish Futures Trust, said: “Delivering highquality, wellfunctioning infrastructure to support and accelerate economic growth will achieve social and environmental benefits right across Scotland.

“Building the economy is our focus, and we will continue to provide innovative investment models to stimulate additional private sector investment and create jobs.”

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IoD Central Scotland Branch embraces opportunities for growth The IoD Central Scotland branch hosted its first event for 2019 at CodeBase Stirling, a well-respected technology incubator hub in the vibrant Scottish technology scene.

The evening was dedicated to the fast-changing digital economy and aimed to inspire delegates with experienced guest speakers sharing their business journey, insights and wisdom around four key topics: business transformation, lean business practice, data security and GDPR and internationalisation.

The successful event was opened by IoD Scotland chair, Aidan O’Carroll, and hosted by the Alain Van Weert, lead on digital economy on the IoD Central Scotland Committee.

39 business leaders learned from shining examples of how businesses created opportunities for growth, by embracing evolutions and opportunities in digital technology.

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Heriot Watt aiming to fuel aviation’s future

Guest Speakers on the night included: Don McIntyre, design director, Glasgow School of Art; Sarah Londragan, corporate and commercial lawyer at Lendingham Chalmers; Alex Clyne, founder of Jump Digital; and Ross Somerville, founder of Fix.Live.

Discussing the event, Van Weert commented: “With internationalisation and technology evolution close to my heart, it was fantastic to receive such a positive feedback from a number of people who attended our digital economy event, as well as from our guest speakers, who also learned from each other.”

The evening concluded with a lively Q&A round, followed by networking opportunities with inspirational discussions.

Scientists from Heriot Watt University have been praised after their concept for an environmentally-sustainable aviation fuel made from waste wooden pellets was placed third in a national competition.

It comes as Scottish and UK ministers prepare to receive fresh advice on when to aim for net-zero carbon emissions (see Downtime).

The British Airways-backed competition aimed to create a green fuel which can carry 300 passengers on a long-haul flight.

Professor Mercedes Maroto-Valer, who lead the project, told BBC Scotland’s The Nine: “We are really addressing global challenges and finding solutions for decreasing carbon dioxide emissions.

“The aviation sector in particular is increasing its CO2 emissions and what we want is to help them to find the fuels of the future that will be sustainable.”

The green alternative is unlikely to entirely replace oil-based aviation fuel, but the hope is that it can significantly reduce the industry’s carbon footprint.

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Downtime / IoD Policy

Scottish Golf Week teed up for another year After generating £19.1 million of tourism business last year, Scottish Golf Tourism Week is coming back swinging.

Scheduled to run from 28 October to 1 November, the popular event will take place at Fairmont St Andrews in Fife.

Tourism revenue from golf adds nearly £300 million a year to Scotland’s

economy with golf courses, bars, accommodation providers, restaurants, retail and tourist attractions all benefitting from the sport.

Tee up and get involved by visiting scottishgolftourismweek.co.uk – but only after you’ve attended the IoD Scotland Annual Conference, of course!

Tech tycoons’ work-til-you-drop message goes down badly with the staff

Glasgow UK’s top city for millennials That’s right – Glasgow has been named the top UK city for millennials to live and work.

Totally Money reviewed 63 UK cities and assessed their work opportunities, cost of living, property prices and culture.

Glasgow secured the top spot because of lower-than-average housing prices and

the range of cultural and entertainment opportunities available in the city.

Scotland’s largest city wasn’t the only Scottish city to make the list, with Aberdeen coming in at number three, as young people in the ‘granite city’ enjoy a similar employment rate to London but much lower rent prices.

Jack Ma, founder of Alibaba and one of China’s richest people, recently made headlines for endorsing the ‘9-9-6 work week’. The controversial system involves working from 9am to 9pm, six days a week.

Of course, Ma isn’t the only famous businessperson to endorse stringent work schedules. Tesla CEO Elon Musk recently tweeted that ‘nobody ever changed the world on 40 hours a week’, a statement which also resulted in a widely reported public backlash and the sharing of videos showing how such long hours are impacting on employees forced to work until they literally drop.

While the 9-9-6 work week is often practised in China, particularly among tech companies, the endorsement certainly isn’t universal.

Even the Chinese state media recently condemned the system, calling it ‘unfair’ and ‘impractical’.

I’ve had a long day...

Scotland sets new climate change deadline After seeking advice from an expert panel, the Scottish Government will legislate to reduce greenhouse gas emissions to net-zero by 2045. This means that greenhouses gases would be emitted and absorbed at the same levels.

The Committee on Climate Change urged the new deadline, which is five years sooner than the rest of the UK, because Scotland has more potential sites for carbon capture and a greater landmass for tree planting.

The news follows the widely reported ‘Extinction Rebellion’ protests which swept much of the UK this spring, with cities such as Edinburgh diverting bus routes and closing areas to accommodate the protests.

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Business must have a voice as environment comes to the fore Political parties and both the UK and Scottish parliaments have declared a ‘climate emergency’ as the environment starts to take centre stage in global politics (see Downtime, facing).

This will have a major impact on policy decisions as efforts are made to dramatically reduce carbon emissions.

Businesses in the private sector are working hard to support sustainable solutions, but many government decisions will have an additional impact that companies should be aware of.

That’s why it’s important to make the voice of business heard in Parliament and town halls to ensure politicians understand any unforeseen consequences.

One forthcoming environmental policy that has caused considerable controversy is a new ‘workplace parking levy’ for Scotland, which is included in the government’s new Transport Bill.

In Nottingham, the only UK city which currently imposes this levy, companies with 11 or more parking spaces are charged £415 per year for every parking space they offer to staff.

The levy raises £9 million a year which is used to fund improvement to public transport in the city, and it is estimated that around 40 per cent of companies pass this charge onto staff.

In Scotland, local authorities which choose to introduce the charge will have the option to set their own exemptions for workers.

Look out for consultation dates published by councils in local

“The Scottish Government has dropped plans to reduce Air Passenger Duty, as this is no longer seen as compatible with ambitious climate targets...” newspapers or on their websites.

At a national level, the Scottish Government recently dropped longstanding plans to reduce Air Passenger Duty. The move is no longer seen as compatible with ambitious climate targets, according to ministers, but there are concerns about the impact on Scotland’s connectivity and trade with the rest of the world.

Fracking has already been halted and a ban on sending biodegradable

municipal waste to landfill comes into effect in January 2021.

Further green policy changes are widely expected in the months and years ahead.

Parliamentary committees run regular consultations on government proposals, and councils run regular local consultations, so if you have strong views on an issue, please let the IoD Scotland team know. Contact details on page 3.

Policy calendar highlights – Summer 2019 The following are some of the key events to keep an eye out for over the summer Summer (TBC): Audit Scotland to publish Enabling Digital Government report Summer (TBC): Audit Scotland to publish finances of Universities & Colleges overview 4th June: Global Entrepreneurship Summit, The Hague 11th June: Public Sector Employment in Scotland, Q1 2019 WWW.IOD.COM

17th June: Stage 1 deadline: Restricted Roads (20mph Speed Limit) Bill 20th June: Chancellor’s Mansion House speech 26th June: Vital Events Reference Tables, 2018 report 28th June: G20 Summit, Japan 29th June: Queen opens Parliament (Scotland) July (TBC): Total Migration To Or From An Area, Mid-2018 update 28th June: Holyrood Recess

August (TBC): Government Expenditure and Revenues Scotland (GERS), 2018-19 August (TBC): Scotland’s Population The Registrar General’s Annual Review of Demographic Trends, 2018 1st August: Bank of England Interest rates decision 9th August: ONS UK GDP published 14th August: UK inflation figures 22nd August: UK migration stats 26th August: G7 Summit, France

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Behind the Desk

Building a festival for everyone Name: Nick Barley Position: Director Company: Edinburgh International Book Festival No. of employees: 26 permanent, rising to 120 in August Short overview of organisation: Set in a specially created tented village in the heart of Edinburgh, the Edinburgh International Book Festival offers something for just about every age and interest, bringing readers and writers together for inspiration, entertainment and discussion.

The Book Festival welcomes around 1,000 authors in over 900 events for adults and children each year including novelists, poets, scientists, philosophers, sportsmen, illustrators, comic creators, historians, musicians, biographers, environmentalists, economists, Nobel and Booker prize-winners and many more besides.

What is the greatest recurring challenge you come across in your role, and what’s your strategy for dealing with it?

The biggest challenge for any festival director is having to deliver, year in, year out, a programme with a WOW factor.

To achieve that is not simply a question of having the right names in an address book; it’s about gaining a reputation for imaginative programming as well as quality and integrity so that even the most hard-toreach participants are aware of the festival, and willing to travel to Edinburgh to take part in the kind of event that no other festival has dreamed of.

Who, or what, drives you or inspires you?

My inspiration is the idea that a good festival is a forum for sharing ideas, and a laboratory for testing new ideas.

Book festivals are about much more than books. They are places where people inform themselves and participate in public discourse. Writers are a lens through which to look closely at particular topics.

I’m inspired by the idea that festivals can offer a delightful, imaginative space for thinking through complex or difficult ideas – something that social media seems to be getting badly wrong at the moment.

What is your long-term vision for the organisation that you lead?

My vision is to bring public discussion of big ideas to the widest possible audience. If I’m right that we’re creating a kind of grassroots democratic forum, then everyone should feel welcome to participate, regardless of their background or their level of education.

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At the moment, we have a hugely loyal and passionate audience. Our aim is to bring new visitors to book festivals, and we are using a variety of initiatives to make contact with new ‘communities of thought’.

What keeps you awake at night?

Nothing much keeps me awake at night – I am fortunate to be a very sound sleeper!

What makes a good leader great?

A good leader is an excellent listener and a facilitator of others’ greatness. But a great leader is also someone who has the courage to carry on leading with conviction even when things get tough.

Have you had a mentor, and what did he/she add to your development?

I have always felt the need for a mentor throughout my career.

Currently I am mentored by the chair of my board of trustees, the BBC journalist Allan Little.

His confidence in my ideas is matched by my admiration for his own abilities as an interviewer and as an insightful analyst of world events. It’s a relationship of mutual respect, I think.

Even leaders aren’t the finished article.

What’s next in your leadership development journey?

I’m working with my team to build a series of leadership development workshops, to help us all think about how we can cope with the extraordinary growth of the Book Festival in recent years.

Sometimes I am too eager to take on the next project; take the next leap forward, when what’s needed is to consolidate and strengthen what we’ve only just achieved.

What is the ‘next big thing’ that will transform your sector?

Live streaming, or as-live distribution of screened events to wider audiences, looks likely to become a factor in attracting certain authors to take part in festival events. That’s why we’re investing in the right technology to make possible the screening of events outside Edinburgh, in selected venues.

What piece of technology do you rely on most?

My smartphone. Would anyone answer that question differently anymore?

What is your favourite social media platform, and what does it bring to your business/organisation?

I prefer Twitter for Book Festival activity.

I like the immediacy and the brevity.

What needs fixed?

The UK’s visa and immigration system is currently aligned to the government’s ‘hostile environment’ policies. The result is that a number of authors and artists are struggling to secure short-stay visas to visit festivals.

This needs fixing because it’s causing long-term reputational damage; authors and artists are asking themselves whether they want to bother with the potential humiliation of being refused a visa. If the UK wants to be ‘open for business’ it needs to be open for international dialogue, too.

What leadership advice would you give your younger self?

Be honest about your weaknesses as well as playing to your strengths, and make sure you surround yourself with people who are strong in the areas where you are weaker.

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Inheriting money from parents can bring its own problems Receiving an inheritance can be most welcome if you have a large mortgage and are struggling along making ends meet. However, if your situation is now comfortable, and you are more interested in making provision for your children, it can cause a problem, says Glenn Barrett, Ascot Lloyd Chartered Financial Planner It is probably best to start with what happens if you just receive the inheritance. You are suddenly better off, but this will affect how much Inheritance Tax (IHT) is potentially payable by you. This might seem doubly annoying if you have just paid IHT on the parent’s estate. You do then have capital which you could gift to your children or put into trust for them.

However, doing it this way means that you made a gift. Normal tax rules would apply and you would need to survive seven years for the gift to be outside of your estates. Also, if you place it into trust, you cannot be a beneficiary of that trust if it is to be effective in avoiding inheritance tax.

The alternative is to vary the parent’s will in such a way that the inheritance bypasses you, and is passed into trust or direct to your children. Two consequences of this are; • That if the seven-year rule does not apply, it has never been in your estate so will not be taxed again on your early death, and • You have not created the trust from

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your own money, you can be a beneficiary of the trust.

So, having placed your inheritance into trust, you could still have access to it if you wished.

Remember, if you do pass it to your children or grandchildren now, you won’t have access to the money if you need it, which you may should you need residential care.

I think a good concept to consider is to use the Deed of Variation to place the inheritance in what I would call a ‘family trust’. Anything over and above any money you immediately want to distribute to the children, can go into one trust pot. You remain in control of your trust monies, the way they are invested and to whom and when payments are made. The potential beneficiaries would be yourselves, your children, their spouses and remoter issue. This gives maximum flexibility. If you should need the money yourselves then you as trustees can give or lend yourselves money from the trust pot.

Taking a loan from your own Trust should always be considered. You have total flexibility in making payments of any amount to any of the potential beneficiaries.

One would normally put a letter of wishes with the trust documentation to give future guidance on how you would like the monies to be passed on eventually, but note that this does not bind the trustees, who can react to whatever circumstances the future

might bring.

It is these high-level decisions that you need in order to be able to instruct a solicitor to draw up a deed of variation.

A separate exercise is the discussion with a financial adviser as to how any inheritance is invested. The decisions will include not only how the money is invested, but also the tax wrapper to be used.

As a footnote, the best solution is for the parent to change their will before they die. It makes the trust a little more straightforward in tax terms. However, that is a difficult discussion which in my experience is often avoided.

Don’t wait until an inheritance is in the bank before speaking to a financial adviser. Planning is all about understanding what options there are, before you get there.

An Ascot Lloyd adviser can help you to understand the options available for your circumstances, provide insight into inheritance tax and utilise their expertise for your benefit.

For more information please call us on 0345 450 7500, email info@ascotlloyd.co.uk or visit www.ascotlloyd.co.uk to discuss this in more detail with one of our advisers.

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The Leadership Interview: David Watt, IoD Scotland Executive Director

Scotland works best when it stays connected As David Watt, executive director of IoD Scotland for 16 years, prepares to step down from his post, he spoke to Rob Beswick about his years at the helm of the country’s premier business organisation, the people who have inspired him and why he feels the IoD is as relevant today as it has ever been When asked, the answer came back swiftly: the people.

The question was, of course, what would David Watt miss most once he’s left the IoD, and his response was immediate.

“I’ve been very fortunate, that this job has brought me into contact with some truly great, inspiring people from right across Scotland and further afield. It’s been a privilege to meet them and hear their stories, and understanding how much they’ve given to Scotland, its economy and its civic structures, has been what has really inspired me in this job.”

It’s a role David has held for some 16 years, having taken up the reins at the IoD in June 2003. Prior to that he had been the Scottish partnership manager at the New Millennium Experience Company – the organisation behind the Millennium Dome – and before that, spent 15 years in sports and leisure management.

The Millennium Dome role, indirectly, led to him becoming IoD Scotland executive director. “I was looking to improve my connections within the business world and joining the IoD was an obvious fit as it brought me into contact with the people I wanted to talk to. It helped that it was strong in the two places I needed to work – in London and in Scotland.

“After joining I volunteered to help out with the IoD Fife Committee and while there heard that the position of executive director was going to fall vacant, and thought it was an interesting sounding job. It was in a similar vein to

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the Millennium Dome, in that it was reaching out to different sectors and bringing businesses and people together. Again, it seemed a good fit.”

Ever since David has been, for many, the face of the IoD in Scotland and can be credited with raising its profile, to the point that today it is a trusted and valued commentator on all matters concerning business and the economy.

“It is good that the voice of the IoD is heard. We’re asked our position and views on a host of topics – and we’re getting heard more and more in Holyrood and other places that matter.”

Much of the credit for that higher profile has to be put down to David, and whether it’s giving evidence to the Calman Commission – where the IoD was praised by the chair for getting straight to the point and offering a clear contribution on devolution and its future path – or on independence issues, tax reforms or education and training, the IoD has built a reputation for effective, open and clear contributions unfettered by dogma or doctrine: just a desire to ensure Scotland is the most efficient and open place to do business in the world. The siting of the head office next door to the official residence of the First Minister on Charlotte Square is no accident: the IoD is now very much in the centre of Scotland’s public and political debate.

This higher profile isn’t the only thing that has changed during David’s tenure: the make-up of the IoD has changed too – though possibly not by as much as he would have liked. “Our membership has changed: we have far more young

directors, more women, and more people representing sectors such as education and the Third Sector. But the fall in the number of large businesses in Scotland and the growth of selfemployment has meant we’ve retained a high percentage of consultants and people operating in the business advice areas. We can always spread our membership reach a little more.”

David has also overseen the IoD spreading its wings geographically, giving it a presence in every corner of Scotland. “We’ve increased the number of branches to eight to make them more representative of our key economic areas, and opened premises in Aberdeen, Dundee, Inverness, Glasgow and Stirling as well as Edinburgh.”

It’s a policy that chimes nicely with David’s own desire to improve connectivity within the business world.

The goals of the IoD remain consistent, however. “We’re about driving director excellence, improving boardroom performance and promoting good governance. I’ve always strived to keep the IoD relevant and that’s meant we have to continually re-assess our membership offer, as the world of business is changing so quickly.

“We’ve improved our communications, our events offer, our presence in the digital sphere and our training and CPD. We can always improve more – particularly the digital side, where we know we’re still playing catch up – but I’m pleased with the way we’ve adapted to changes in the way business operates.”

Continued on page 14

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“I’ve always strived to keep the IoD relevant and that’s meant we have to continually re-assess our membership offer, as the world of business is changing so quickly. ..”

Continued from page 12 “The goal has always been to bring members together, to improve connections across sectors and see directors learn from each other’s successes. That’s where, I think, the IoD’s USP lies.”

I asked him whether, in a world where connectivity is so easy through social media, that core reason to join an organisation like the IoD still held true: can’t you access the connectivity the IoD brings on your own?

“You can, and I see the point you’re making but I still believe the IoD’s role is to be a place where directors can come together and build relationships.

“There is a danger that directors sit behind an email or online presence: we must remember that the social skills are still important in business.

“Always remember, we do business with people.”

David sees the growth in IoD facilities round Scotland as an important part of this. “Increasing the number of IoD hubs has always been important to me: they are your chance to meet other members’ we need to keep those personal relationships together.”

There have been a number of highlights during his time with the IoD but, as said at the outset, it’s been meeting members, working with them and, hopefully, helping them that has been the main thing that David looks back on with genuine affection. “The thing that has pleased me most has always been bringing people together

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“The IoD’s role is to be a place where directors can come together and build relationships. There is a danger that directors sit behind an email or online presence: we must remember the social skills are still important in business.

Always remember, we do business with people.”

– it’s that word ‘connectivity’ again. The IoD’s mantra is better directors, better business, and we have helped many directors improve their performance, through our CPD courses, our events and through just bringing people together so they can share best practice.

“I’ve loved the fact that every day has been different and I’ve met people from every corner of business and of Scotland. If during that time I’ve helped anyone improve as a director, that’s great.

“It’s particularly pleasing to chart some members’ journeys, from business start-ups through growth to the point where they are established SMEs – or larger!”

He’s been privileged to meet many extraordinary people. “I’ve had meetings with every First Minister apart from the first, Donald Dewar, and with many politicians, including four prime ministers. It’s interesting because politicians get a terrible press; they are painted as self-serving, interested only in a narrow ideologue, yet I’ve not found

them like that. Even when I’ve not agreed with their particular strand of politics I’ve inevitably been impressed by their unselfishness and genuine desire to serve the people.”

Stand-outs include Lord Jim Wallace and Sir John Major – “a man a million miles away from his public reputation: an intelligent man who cared deeply about the country” – though the person he regards as the most inspirational speaker he’s ever heard came from overseas: Kofi Annan, the former secretary-general of the United Nations.

“An incredible speaker; a warm, intelligent, passionate advocate for peace and an ability to hold a room like no other. A delightful man in private, too.”

More homegrown talents from the business world who have left a lasting impression including Sir Sandy Crombie, “a great leader and a man who was the embodiment of a time when banks had a vision about their lending and their practices which they’ve sadly lost;” and Bob Keiller, who was “an WWW.IOD.COM

inspiring speaker and leader who has taken the Wood Group onto the international stage, as well as transforming Scottish Enterprise.”

“Both these were real leaders out of the top drawer.”

What lessons has he drawn from meeting other business leaders? “You need vision, of where you want to go and how you are going to get there. You then need to be able to communicate that to your team and translate ideas into action.

“I also think transformation is the key to business success: the ability to see a chance for growth or sketch out a plan of how you are going to change the business, and then transform the organisation to meet these new challenges.

“Finally, listen: listen to your staff, to your clients and to your stakeholders.”

Where he falls out with politicians is when they are too wrapped up in dogma and political doctrine. “Too often politicians don’t make decisions; they lack commitment to follow ideas through even when the evidence telling them to take a particular course of action is strong. They fail to act as they’re too obsessed with the politics, not the outcomes.

“The ‘politics’ side is too dominant and too often, I feel that the economy is not placed high enough up the agenda, and we all suffer as a result.”

How has leadership changed during his time with the IoD? “The biggest challenge leaders face is the pace of change. Whether it’s tech and innovation, societal changes, demographic changes or issues such as the climate change and environmental agendas, leaders have to be on their toes. It is hard to keep up – but it’s also harder to keep moving forward if you fall behind, and with 24-hour comms it’s easy for your business to be on the wrong side of the debate if you don’t keep an eye on the shifting sands of public opinion.”

David believes Scotland has a strong claim to be the best place to do business but he accepts that there are challenges.

“Brexit has damaged our attractiveness to economic migrants which are a necessity as they bring massive benefits and counter the demographic time bomb over our population base. It’s a real concern.”

But he sees numerous positives around him: “Our young people are increasingly entrepreneurial. I’m always struck by how, when I visit education and training establishments, the students I meet are planning to set up their own businesses. They have strong skills to offer and that reflects well on Scotland’s future.”

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“Kofi Annan, the former secretary-general of the United Nations, was an incredible speaker; a warm, intelligent, passionate advocate for peace and an ability to hold a room like no other. A delightful man in private, too.”

Other plus points are the finance sector, which remains strong, as does Scotland’s education and training, “which allows us to punch above our weight on the international stage.” But more help is needed from the government. “We need more action and less talk on economic development and creating the base on which business can flourish. We need to build our external connections.

“Scotland is the most entrepreneurial nation in the world but we need to be more confident about our size and scale, and use it. Too often companies feel constrained by Scotland when it should be the base from which they look to grow and take on the world.”

He cites as an example how Scotland is strong on design and on digital development, but too often these disciplines sit in isolation and aren’t linked up, and “we don’t think of how our ideas have practical applications that can be brought to market, either.”

It is vital that the country’s strengths in education and training are taken to the next level and the government helps stem the ‘brain drain’ as talent leaves to go south or further afield. “Let’s keep our talent in Scotland; they have the skills so let’s give them the tools and support them. That’s what the IoD is doing.”

So what piece of advice would he give directors? “Carpe diem… seize the day.

Grab every opportunity that presents itself as business life changes so quickly,

you mustn’t hesitate.”

He urges all members to see the IoD “as a bridge between you all; Scotland has the advantage of being a relatively small business world, in which at times it feels like everyone knows everyone else. Using your personal relationships you can usually connect to anyone when you need to.”

As he steps down, David has nothing but praise for the team at the IoD. “I’ve been fortunate in being supported by a great bunch of people at head office over the years, and I’m very grateful to them all.”

He was also fulsome in his thanks to for the volunteers who work so hard behind the scenes at branch/committee level. “I’ve been fortunate to work with a number of great regional chairs, who have all brought their own skills and expertise to the table. There is so much expertise on offer at the IoD and it’s been great to tap into that over the years.

“The IoD is an invaluable pool of knowledge.”

As to the future, David is excited for the next stage in the IoD’s development.

“We are seeing the start of our own devolution process, with more local control over what we offer and how we operate. There is a genuine desire to increase our diversity and appeal to a wider cross-section of the community, which is also welcome.”

As for David himself, he’s delighted that his position as Hon. Colonel of the Royal Marine Reserve will continue until 2021, and he has accepted the role of chair at Fife College. He is also taking on a non-executive role with fitness equipment supplier BGR Training, and will continue to offer IoD members the benefit of his experience by leading professional development courses.

But away from the office? “I’ll be giving the golf clubs a good airing. I have a goal of getting the handicap down to 12,” he said with a steely glint in his eye.

“If anyone has any advice…?”

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Technical briefing: IT

Watch out Silicon Valley – Scotland is coming for you

When it comes to the Scottish entrepreneurial psyche, Silicon Valley’s emerging technologies specialist Deborah Magid is the perfect person – she’s also a qualified cognitive psychologist – to know what makes us tick, as she explained to industry commentator Bill Magee. Where?

On the Royal Yacht Britannia, where else.

Edinburgh is the location for EIE, integral to the city’s burgeoning digital ecosystem along with aspirations to become the ‘Data Capital of Europe,’ ambitions that are well founded says Deborah Magid who, as director of software strategy for IBM’s $25billion Venture Capital Group, has a roving commission to source bright tech talent.

It’s no accident that she has participated in practically every annual EIE – Scotland’s flagship “Engage Invest Exploit” international technology investor showcase event that’s been running for over a decade, noting that Edinburgh has been singled out as the best location in the UK for establishing an IT company, according to the Tech Nation 2018 Report.

Magid points out that investors are “razor-focused” on projects coming out of University of Edinburgh which she includes in an exclusive and elite list of such academic institutions, the others include MIT, Stanford, Berkeley, and UCD Trinity.

The EIE19 folks staged a strictly investor-only pre-event gathering on the Royal Yacht, permanently docked at Leith, to which I was invited and during which Magid told me Scotland has significantly enhanced its global digital status of late.

She prefers the personal tag ‘Technology Scout’ to that of a traditional VC and along with Scotland can be found giving keynotes in Paris, Brazil and Shanghai.

The ex-AT&T and General Electric executive sees herself at the coalface of funding and discovering new technologies – “fuelling the ecosystem pipeline,” as she describes it – in strategic areas. She’s single-handedly filling out the IBM product portfolio; if she sees something that is exciting, she’s quick to introduce it to the globallyintegrated tech and consulting giant.

Magid also sits on the boards of the SV Forum, Silicon Valley’s emerging technology network, and White Bull, serving the European entrepreneurial

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and venture communities, and her expertise spans several industries and sectors.

She says it’s apparent the Scottish tech effort is responding well to key shifts in the marketplace which are digitally disrupting businesses and presenting new opportunities for entrepreneurs. Conversely, VCs and start-ups rely heavily on new tech, especially analytics and big data, with the wise ones both influencing and taking advantage of such trends.

It isn’t all Edinburgh, of course, for Scotland boasts an outstanding academic base of the highest standards and second to none internationally.

EIE19 coincided with University of Glasgow announcing a £28million plan to build a high-tech campus in Govan, transforming the area into a centre of excellence for nanotechnology and precision medicine. It’s already been dubbed the ‘Silicon Valley on the Clyde’.

Scottish Minister for Public Finance and Digital Economy Kate Forbes MSP notes the “combined strengths in universities, research and talent markets” displayed by both cities have seen each featuring in the top three of CBRE’s UK Tech Cities report.

Elsewhere, St Andrews University has

been named as Scotland’s top university and third best in the UK just behind Oxford and Cambridge, according to The Complete University Guide 2020, with other academic institutions including Glasgow, Edinburgh, Strathclyde, Glasgow Caledonian, Aberdeen, Robert Gordon, Stirling and Abertay all listed in the rankings.

EIE19, helping 350 companies attract over £650 million before this year’s effort, was a signature event of the CAN-DO Fest which displayed numerous examples of Scottish academic excellence.

They included an ‘Innovation Engineering’ workshop at Abertay when the spotlight shone on a new field of study; ‘Innovate with Strathclyde’, highlighting the Glasgow City Innovation District (GCID); the ASB ‘Unstoppable Women’ conference at Glasgow’s Royal College of Physicians and Surgeons; ‘Make Change in Glasgow’ at the merchant city’s Caledonian University; and a Young Enterprise Scotland festival at Fraserburgh’s North East Scotland College.

All were making their contribution towards validating Scotland’s position as the data capital of Europe.

“University of Glasgow has announced a £28million plan to build a high-tech campus in Govan, transforming the area into a centre of excellence for nanotechnology and precision medicine. It’s already been dubbed the ‘Silicon Valley on the Clyde’.”

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Technical briefing

Business and academia: a perfect match Universities can help all businesses kick-start growth programmes or put new ideas into action – and SMEs have the most to gain from such collaborations, says Dr Siobhán Jordan, Director, Interface Lack of time and resource prevents many businesses from forging meaningful partnerships with a university or academic institute – and where to start looking can be daunting.

And yet Scotland’s world-class universities are open to businesses and can significantly boost their success: 46 per cent of businesses which have partnered with academics increased their turnover, while 31 per cent increased employment as a result of the collaboration*.

From the companies that we work with, we’ve been able to help businesses to add an estimated £64.2 million GVA to the economy each year by improving or creating processes, products or services.

But this isn’t something that has happened overnight. Fifteen years ago, the disconnect between small businesses and universities for joint research and development was glaring, so it has become the role of organisations, like Interface, to support both business and universities to create partnerships which would flourish.

Acting as the ‘salesforce’ for Scottish universities, we translate the needs of business into viable propositions for academic teams and individuals and have an in-depth knowledge of funding options in this area.

In this way, Interface has supported over 2,900 businesses establish relationships with a university, helping them become more competitive,

increase profits, maximise export potential and ultimately be more sustainable.

Small and medium-sized enterprises play a crucial role contributing to the economy, but do not always have the means to understand where to start engaging academia in helping to solve a problem. They are often unaware of the vast array of knowledge, facilities and equipment available in Scotland’s institutions, and don’t have the time or resource to find the right expertise.

We have supported textiles companies like Attis Fitness looking to integrate smart technology into their running clothes; manufacturers like TransK9 to test how their dog cages withstand crash impacts; construction companies using virtual reality to demonstrate to customers build options and designs; and food and drink companies such as Dunnet Bay Distillers identifying new solutions for waste products.

A great example of what happens when business and academia join forces is East Kilbride-based Re-Tek, which

reaped the benefits of its partnership with the University of the West of Scotland in several ways.

The company, which refurbishes and remarkets used IT equipment, wanted to collaborate with an academic partner with expertise in recycling or reclamation of rare earth minerals and precious metals from electronic waste to support a bid for a €166k tender across four EU countries.

We introduced Re-Tek to the School of Computing, Engineering & Physical Sciences and together the partners were successful in securing grant funding for two years, enabling the company to recycle more products instead of going to landfill.

This has enhanced employment opportunities, profitability, and shared income with social enterprise partners.

The impact of these partnerships strengthens the economy by supporting pioneering companies and academics as they co-create, test and research for a better future. *Report by BIGGAR Economics - The Economic Impact of Interface, 2017.

Interface Interface offers a free and impartial service, matching the needs of businesses to university, research institute and college expertise.

If you would like to find out more about how Interface can support your business to improve processes, products or services, or enhance workforce innovation, please call 0845 013 0536 or info@interface-online.org.uk.

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“From the companies that we work with, we’ve been able to help businesses to add an estimated £64.2 million GVA to the economy each year...”

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Technical briefings

Negotiating a win when you have the weakest hand

In the last issue of Direction we looked at strategies to help business owners secure the best value for their business prior to selling. In this issue we look at the options you have in a negotiation when you don’t have the ability to offer the highest or most attractive price. We asked John Ross, managing partner of specialist negotiations advisors Ogilvie Ross LLP, how do you compete with the lowest price offer.

IoD: John, how important is price in a negotiation?

JR: Many people believe it’s the most important factor. However, we tend to find it’s only one of a number of factors, depending on the exact nature of any deal. Other aspects can be terms and conditions, ongoing service provision, staff welfare guarantees, longer-term buy-out options and a host of issues which can be highly personal.

IoD: But surely these factors are less important when it comes to the actual bid?

JR: Not in our experience. I’ll give you a recent example. We were advisors to a local authority which had been approached by one of its long-term suppliers to see if it would be interested in buying a major part of its trading business.

The authority already had a working partnership with the supplier where it provided aspects of the process, and the supplier was an integral part of the overall service. If the supplier pulled out of that part of the business, the authority would suffer potential losses and service disruption and it could take considerable resources and time to replicate what they already had in place.

As a result, there was pressure to get the right deal and to try to prevent it from becoming an open bidding was.

IoD: How do you start to prepare for something like this?

JR: The first step was helping the authority understand what the purchase process was likely to be and where they would need to define their very specific walk-away points, or in current language their ‘Red Lines’. A key aspect would be the potential purchase price.

This is public money and has to be very carefully monitored and allocated so the amount that could be offered was absolutely fixed, with no room for negotiation. It was based on a very detailed analysis of the information provided by the seller to identify what

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the potential payback was and the various reasonable variations which could impact on the final price.

Once that number was calculated, it was presented to the authorities’ senior management team and they authorised the team to make their initial approach.

IoD: What did the seller think?

JR: The initial conversation quickly identified that the seller wanted a figure about three times what had been calculated and it was very clear that the two parties were nowhere near each other in terms of price. We had anticipated this and created a strategy to discuss the wider reasons for the potential sale, including personal drivers. This revealed other significant factors in the seller’s mind, including how the existing wider customer base would react, how long-term staff would be treated, potential other revenue sources that could be jointly developed and personal retirement planning for the business owner.

The more we talked the more both sides understood where they were coming from.

IoD: Did this bring about a deal?

JR: No, clearly there was a massive difference in the respective valuations of the business and we needed to see how this came about. We negotiated a brief exclusivity period to allow more detailed information to be provided by the supplier to help understand his valuation.

Once the authority had full disclosure of the operation then they realised that they could raise their bid amount and still get the

same payback performance.

IoD: Was this sufficient to close the deal?

JR: No, and it then became apparent that the seller was going out to the wider market and alternative bids were invited. As the other bidders were private companies that did not need council approval of any spend it was clear that the authority was now the lowest bidder with no scope to get into a bidding war or auction.

With this new factor, we created a plan to leverage the strong personal relationship between the business owner and the key staff in the authority, focusing on the long-term benefits of a continued partnership. This brought the two parties closer together and while it was not easy, it ultimately brought about acceptance of an offer which was financially well below all the other bids but provided many more long-term advantages to the seller.

Both sides achieved what they really wanted, which was not based on the highest price.

John Ross is a strategic advisor to government and public sector organisations as well as charities, sports governing bodies and social enterprises.

He can be contacted via john@ogilvieross.co.uk

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Opening up new routes into the cyber security sector The Scottish Qualifications Authority (SQA) is opening up new routes for young people into employment, and tackling the skills shortage within Scotland’s Cyber Security sector.

Since its launch in 2017, SQA has seen demand for its National Progression Awards (NPA) in Cyber Security, at SCQF levels 4 to 6, skyrocket.

Alistair Wylie, Head of Qualifications – Technology, Engineering, and Construction at SQA, says it is easy to see why the course has struck a chord with young people, who are keen for the chance to work in a sector that is integral to so many aspects of modern life.

“We’re talking about an industry that is of fundamental importance to how we function as a society, how we share information and how we conduct business. It has the potential to impact on every single person,” says Wylie. “The demand for skilled individuals who are able to share knowledge and experience of cyber security, and add value to potential future employers, is huge.”

Last year the number of young people achieving the NPA in Cyber Security grew by over 40 per cent, and this year there are over 1,000 candidates studying the course in schools and colleges across the country.

Bobby Elliott, Qualifications Manager at SQA, says the appeal of the NPA is the nature of the topics taught. Elliott adds, “No other school-level course gives young people the chance to take on these topics – Data Security, Digital Forensics, and Ethical Hacking – or opens candidates up to the employment opportunities that could be available to them.”

Scott Hunter was part of the team that developed the NPA, and has seen first-hand how young people have benefitted from undertaking the course.

Hunter, Principal Teacher of Computing at Kyle Academy in Ayr says: “Two pupils from my first class to complete the course have since gone on to university to study Ethical Hacking.

Without the NPA giving them an insight into that world, I suspect those pupils wouldn’t be where they are now.”

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benefit from receiving advice about how to protect their businesses from online threats.

“Our pupils delivered workshops to the start-ups advising them on issues including how to manage their own and their customers’ data, how to write a firewall and how to manage their digital footprint.”

Scott adds: “The students have also worked with pupils at our local primary schools to talk to the children about their own internet safety. They are adding vital soft-skills to their bank of knowledge and experience, adding value to their learning.”

All well and good, but what’s next?

How is SQA planning to expand on this success? Bobby Elliott answers: “Thanks to special funding from the Scottish Government’s Cyber Resilience Strategy for Scotland, we now have fantastic off-the-shelf learning, and teaching materials available meaning the course is now easier to deliver. We have launched our new Higher National Certificate (HNC) in Cyber Security, meaning the programme is now gearing towards getting candidates ready to access the work place.

“Currently we have three colleges delivering the HNC – West College Scotland, City of Glasgow College, and

Fife College – and we’re currently finalising the Higher National Diploma (HND) and aim to have it available for students from August this year.

“Once the HND is available, we’ll have opened up routes into employment within the cyber security sector that was traditionally only available to those who had completed degree level computing programmes.”

SQA is also working on a Professional Development Award in Cyber Security at SCQF levels 7, 8, and 9, which will help those already in relevant employment broaden their skills, or even help them retrain and make the transition into a new career. Available in 2020, the Professional Development Award will be the latest step in widening access to careers and learning opportunities within Cyber Security.

Alistair Wylie concludes: “By expanding our suite of cyber security qualifications, we are helping to address the well-publicised skills shortages within the sector. We have worked with leading academics, employers, and industry specialists at every stage of each qualification’s development to make sure the skills, knowledge, and experiences candidates acquire are credible, relevant, and valuable.

“By doing so, we are meeting our responsibilities to provide schools, colleges, employers and training providers – and thereby learners at all levels – with the opportunities to succeed within this exciting and growing sector.”

Find out more at www.sqa.org.uk/cybersecurity

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Technical briefing

Jack Gardiner, Partner, Turcan Connell, says it’s vital that family firms don’t just rely on blood ties to keep the business on the right lines Life tends to throw up unexpected complications, in both personal lives and business relationships. In family firms, shareholders’ agreements can help to mitigate the risks.

The family business is a place where problems in both personal and business relationships can conflate. Breakdown in personal relationships among family members are distressing enough for those involved, but those damaged relationships can spill over into the business.

Equally distressing, however, is where disputes within the family business cause breakdowns in the personal relationships, leading to irreparable family schisms. Having a Shareholders’ Agreement setting out how issues which could potentially impact on the business are to be dealt with is not only commercially sensible for the company, but can give comfort to individual shareholders.

While many provisions governing the relationship among shareholders and the company can be contained in the Articles of Association, there are situations and issues which are better covered by a Shareholders’ Agreement.

A particular reason for documenting provisions in such an agreement rather than the Articles is that a Shareholders’ Agreement has the benefit of confidentiality; it does not have to be filed at Companies House and, therefore, remains private.

Shareholders’ Agreement A Shareholders’ Agreement can accordingly deal with issues which the shareholders do not want in the public domain or are inappropriate for Articles.

Among the most valuable protections one can afford is that of the interests of minority shareholders not to suffer prejudice at the hands of the majority.

This often takes the form of a List of Reserved Matters, each of which requires unanimity or the support of a large majority of the shareholders before the step proposed can be taken.

These reserved matters commonly include: a restriction on the issue of further shares to ensure members’ shareholdings are not diluted without their consent; a prohibition on the disposal of the company’s assets; or borrowing money in excess of a certain

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A valuable tool for family businesses

amount. Such provisions are common in non-family businesses also, but there are a large number of them which are more relevant to family businesses.

What should I include in a Shareholders’ Agreement?

Examples of matters family businesses should consider include: Should there be restrictions on permitted transfers of shares to spouses of family members such that, if the marriage ends the shares would come back into the ‘bloodline’?

When a shareholder dies, should surviving shareholders have an option to buy the shares and should the deceased’s shareholder’s executors have the option to compel the surviving shareholders to buy the shares?

If the company requires a further share issue, are all shareholders to be entitled to participate on a pro rata basis in order to avoid dilution?

Should each shareholder have the right to appoint a director, or should this right be reserved to a shareholder who holds over a certain percentage of shares?

Is there to be a restriction on distributions and should there be a statement of dividend policy?

Should there be a mechanism to resolve deadlock situations and what should that mechanism be? Should

resolution involve a dissenting shareholder being bought out at a pre-determined price or at a price to be fixed by an independent valuer?

If a majority of shareholders wish to sell the company to a third party, should they be entitled to force the minority shareholders to sell their shares on the same terms? and, Should there be restrictive covenants to prevent a departing shareholder competing with the Company and how extensive should those restrictions be?

All of these issues, and more, should be considered, discussed and agreed by shareholders so that, if the unthinkable happens, all parties are dealt with fairly on a basis agreed at a time when they were in a positive and collaborative frame of mind.

A well-drafted Shareholders’ Agreement may prevent the breakdown of a business relationship impacting on personal relationships and, conversely, prevent so far as possible personal schisms from negatively affecting the business.

Jack Gardiner is a Partner in Turcan Connell’s Business Law Team.

For more information about the content in this article and to find out more about their services to family businesses visit their website: www.turcanconnell.com.

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IoD Scotland

Inside IoD Scotland n Director of the Year Awards: A night of celebration n IoD Scotland Conference launch

Above, IoD Scotland Chairman Aidan O’Carroll with Zuleika Brett, who accepted the Award for Transforming Scotland on behalf of recipient Phillip Long, V&A Dundee.

n Events diary n Members’ benefits n Director Development

Our full winners line-up on a glorious evening celebrating business success.

Full list of winners, see pg 26-27

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Director of the Year Awards

Pictured, from left, Director of the Year in the International category Brendon O’Reilly, with Ivan McKee MSP presenting.

Michael Golding with Mairi Mickel; and (above) Lord Haughey Kt OBE. Below, Nathan Pyne-Carter with Ivan McKee MSP

Below, The IoD Scotland Young Enterprise Scotland winner Rhianna Harrison with Chris Floyd

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IoD Scotland Director of the Year Awards

A night of celebration IoD Scotland honours top business leaders Lord Haughey Kt. OBE and Philip Long, V&A Dundee, receive honorary awards for exceptional service Scotland’s top directors were honoured in the IoD Scotland Director of the Year Awards, held at the Hilton DoubleTree in Glasgow on May 23.

19 outstanding leaders collected awards in a ceremony that acknowledged the best in business across 11 key director categories and seven regional categories, including the new categories for innovation and inclusivity, while honorary awards for exceptional service to Scotland were presented to Lord Haughey, City Facilities Management Holdings Ltd, who received the Chair’s Award, and Phillip Long, director of the country’s outstanding new art installation, V&A Dundee, who received a special award, for Transforming Scotland The winners of the 11 national categories will now progress to the prestigious UK Director of the Year Awards, which take place in London in October.

The two key awards – for Director of the Year, Small-Medium Business and for Large Business, were won by Jamie McGowan, Essence of Harris, and Robin Watson, Wood, respectively.

The judging panel chair Raymond O’Hare said both winners were worthy recipients of their awards and had shown real leadership in their business organisations over many years: “Robin Watson’s entry was exceptional, showing leadership in circumstances which required bold and decisive action yet maintained corporate strength and robustness and integrity.

“He has a very personal yet professional approach and honest self-appraisal and respect for others. A first class nomination and winner.”

In the smaller business category, “Jamie McGowan shows extensive entrepreneurial spark and engagement.

He has set out a clear vision focused on excellence with great design branding.

He is doing this in a busy marketplace far away from the commercial centres.

His is a great story about building with the local community.”

The awards highlighted the diversity of the current business landscape in Scotland, with winners drawn from the Public and Third sectors, from big business to fledgling start-ups.

All winners had demonstrated to the judges true creativity and innovation, leading to success for their organisation and the communities they serve.

The SCVO Director of the Year – Third Sector went to Roslyn Neely, Edinburgh Children’s Hospital Charity. Roslyn has transformed the way the charity operates, tapping into private sector expertise to professionalise its financial reporting while engaging strategic thinking, inspirational leadership and improving communication with all stakeholders.

The mcl create Director of the Year – Public Sector was Pauline Howie OBE, Scottish Ambulance Service, who has built a development culture to secure sustainable long-term goals and deliver real benefits to the public at large.

Brendon O’Reilly of the Fashion House Group won the International category, in which Craig Chambers of TBR Global Chauffeuring was highly commended, while the Turcan Connell Director of the Year – Family Business was Iain Anderson of GAP Group Ltd. The awards saw the introduction of two new categories, the BT Director of the Year – Inclusivity, which was won by Lynne Connolly, Standard Life Aberdeen PLC, and Nathan Pyne-Carter, Ace

Aquatec Ltd, was the inaugural winner in the Scottish Government Director of the Year – Innovation category.

The Awards paid particular attention to the contribution by young and up and coming directors to Scotland’s business community. The Director of the Year – Young was Michael Golding, Inverness Kart Raceway, with Rebecca Speirs, Spectrum Service Solutions Ltd, Highly Commended, while in the Start-Up category the winner was Daniel Winterstein, Good-Loop, with Julie Grieve, Criton, Highly Commended.

The IoD Scotland Young Enterprise Award went to Rhianna Harrison from Boroughmuir High School.

Hugh Little was the Non-Executive Director of the Year.

Speaking at the Awards, IoD Scotland Chair, Aidan O’Carroll said of Lord Haughey Kt. OBE: “Lord Haughey has demonstrated so many of the attributes that we want to recognise tonight; a strong record of business success, an international business with over £1 billion turnover and major contracts being secured around the world.

“He has also ensured that a high standard of leadership is maintained within the organisation, as well as committing to the creation of more leadership opportunities across his business. He is a global player and has demonstrated not just how to create and innovate but has also committed to giving so much back to the community here in Scotland.”

Philip Long has made the V&A “a beacon of success and a focal point in the transformation of Dundee,” said Mr O’Carroll. “V&A Dundee is already one of the most popular attractions in the country and Philip has been fundamental to this. He has shown how a clear vision and strong leadership can help to not only create a successful tourist attraction, but has also contributed to the city of Dundee earning the title of UNESCO City of Design.”

IoD Scotland thanks its sponsors and supporters 26

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Directors of the Year Jamie McGowan and Robin Watson flanked by event compere Grant Stott and IoD interim DirectorGeneral Anna Daroy Lynne Connolly with Jane Wood

Regional Directors of the Year Lesley Little representing Hugh Little with awards presenter Ewan Kinnear

Daniel Winterstein with Margaret Gibson

Iain Anderson with Mike Kane Pauline Howie and Brendan Keegans Roslyn Neely with John Downie

n Edinburgh & Lothians Pauline Howie obe Scottish Ambulance Service n Central Scotland & Fife Dale McQueen Trossachs Distillery Limited t/a McQueen Gin n Glasgow & West of Scotland Iain Anderson GAP Group Ltd n Highlands and Islands Enterprise Regional Director Bob Buskie Port of Cromarty Firth n Tayside Ian Collins (NXD) n South of Scotland Ryan Brown Robinsons Scotland n Aberdeen & Grampian Graham McWilliam Glencraft (Aberdeen) Ltd, Glencraft Luxury Highly commended: Hugh Little CLAN Cancer Support

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Architects of the new Scottish economy

What will Scotland’s economy look like in the future – and who will be the architects of this new landscape? To find out – and contribute to the debate – join us from 31 October - 1 November at the Gleneagles Hotel for the IoD Scotland Conference 2019.

There you will hear from our highoctane line-up of business leaders and civic commentators to discuss what they think the economic landscape of the future will look like and map out a route to future stability and growth for your business in an increasingly hi-tech world.

You will be joining over 150 IoD members and other senior business figures in a dynamic and vibrant atmosphere in which the emphasis will be on inclusive debate.

Scotland needs to build an economy fit for the modern age – one that is open and connected, capable of delivering

the financial results needed for growth but at the same time, grounded in the principles of inclusivity, diversity and trust.

Meeting these goals will take great leadership and vision as the nation looks to learn from the stories of its past and present and build on them to transform the future.

Now is the time to ask yourself whether you are ready for the challenges ahead – and to re-engineer your skill-set so you can play your part in creating the economy of tomorrow.

Our speakers will reflect on their experiences in tackling this challenge and share their own views on leadership in changing times.

They are drawn from a broad crosssection of business and society, with representatives from the cutting-edge tech sector joining directors and experts from the worlds of charities, retail and

big business to reveal an over-arching view on the future.

Their presentations will be backed by the now regular Friday Business Panel session which will include representation from IOSH, and a number of workshops, including one from Where Now Consulting, which will examine indepth the key issues of the day, creating an unrivalled forum in which to become better informed and to be challenged.

The conference also holds numerous networking opportunities to connect with your peers to discuss the issues raised.

The Conference opens on Thursday, October 31 with our now traditional Leadership Lecture, together with Director Development taster sessions and an informal networking supper.

Details to be released in Autumn.

A black-tie dinner concludes the conference on Friday.

BOOK YOUR PLACES NOW!

To reserve your places(s) or for more information, call First City Events on 01577 865498 / 07711 432745 / 07483 812596 or email conference@firstcityevents.co.uk

Conference speakers: David Cutter,

President, Diageo, Global Supply & Procurement & Chief Sustainability Officer David Cutter was appointed President, Global Supply & Procurement in July 2014. He is based at the Global Supply headquarters in Edinburgh and responsible for a world-class supply chain delivering Diageo’s brands to 180 markets around the world from over 100 production facilities located in more than 30 countries. In December 2018, he was appointed Diageo’s inaugural Chief Sustainability Officer (CSO), in addition to his role as President of Global Supply and Procurement.

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Previously David was Supply Director of Diageo’s International Supply Centre (ISC) where he was responsible for Diageo’s spirit and beer production operations in Europe, which included production of global brands such as Johnnie Walker, Guinness, Baileys, Smirnoff, Gordon’s and Tanqueray.

Before taking up his role in the ISC, David was President, Diageo, Americas Supply, overseeing the company’s end-to-end supply operations for the Americas, which included the North

America and Latin America & Caribbean markets. During this time David also led the creation of a new distillery in the US Virgin Islands.

Prior to this role, David led Diageo’s Asia Pacific Supply business based in Singapore.

He has worked in manufacturing, supply and product management for more than 20 years and prior to joining Diageo held leadership roles at other leading consumer goods companies including Frito-Lay and SC Johnson.

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Guiding you through to the future economy: our Conference speakers David Beurle

Chief Executive Office and Founder, Future iQ David Beurle is CEO of Future iQ and is a world-renowned expert on urban, community, regional and organisational economic revitalisation. His work extends from the local and regional, through to corporate and governmental levels with a focus on ‘future thinking’ and long-term planning.

He specialises in creating innovative future planning approaches for use in regional and organisational settings. He

developed the ground-breaking Future Game as a planning and workshop tool, which has been successfully used across the world in community, regional, industry, corporate and governmental settings. He pioneered the application of Scenario Planning to regions and rural industries around the world. Having worked in the field of regional and community planning/ revitalisation for over 20 years, he is a leader in the field of regional and organisational development.

An accomplished speaker, having led over 200 community visioning sessions across North America, Australia and

Edel Harris

Chief Executive, Cornerstone Edel Harris joined Cornerstone, one of Scotland’s largest charities, as Chief Executive in May 2008 having previously been Deputy Chief Executive of Aberdeen Foyer.

A former Metropolitan Police Officer, Edel’s background is in health promotion, holding a 1st class honours degree in Health and Social Care.

She spent eight years working for NHS Grampian and has significant experience in setting up and leading successful social enterprises and in developing new social care services.

Edel is a Director of the Aberdeen Football Club Community Trust, Director of Scottish Council for Development and Industry (SCDI), Director of Robertson Trust and served as the first female President of Aberdeen and Grampian Chamber of Commerce.

She was also one of the first Directors of Opportunity North East (ONE), former Chair of The Life Changes Trust and former Chair of the Scottish Government’s Social Investment Fund.

Among Edel’s many achievements she was awarded IoD North East’s Director of the Year accolade in 2015, and in 2017 became the Scottish EY Entrepreneur of the Year. On International Women’s Day 2018 Edel was awarded an honorary doctorate from Robert Gordon University for her contribution to charity and business in Scotland.

Europe, he has been invited to provide numerous keynote addresses and workshop presentations across the globe.

David has worked in the remotest parts of Australia through to working at the highest levels of Government, with eight years as the ‘right-hand man’ to a senior Australian Cabinet Minster.

His work in community and economic development has earned him numerous awards, including the International Community Development Society’s ‘Innovative Project Award’.

Dr Kim Winser obe

Founder & CEO, Winser London Kim Winser obe is one of Europe’s most internationally renowned business women.

She was the youngest ever female director of Marks & Spencer and has held global posts as CEO of Pringle of Scotland and CEO of Aquascutum, as well as acting as special adviser to Natalie Massenet at Net-A-Porter. In 2013 Kim launched her own digitally-based fashion business, www. winserlondon.com.

Kim holds a Doctorate from Heriot-Watt University and an OBE for her contribution to the British fashion industry. In 2013 she was appointed as Board Trustee of the Natural History Museum by the then Prime Minister David Cameron. She also serves as an Independent Non-Executive Director of the Hongkong & Shanghai Hotel & Property Group (Peninsula Hotels).

Kevin Mathers

Country Sales Director, Google UK

Kevin leads teams that help Google’s UK advertising clients make the most of the web.

During his 12+ years at Google, Kevin has also been the MD of YouTube UK, led Google UK’s new products team with responsibility for the introduction and growth of all their advertising products, and led their technology sales and UK search partnership teams.

Prior to Google, he worked at Deloitte, T-Mobile and one2one.

He has an engineering undergraduate degree and a MBA from London Business School.

Conference sponsors

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Membership benefits

Make the most of your IoD membership IoD membership comes with a host of benefits – on travel, on accommodation, hotels and meetings rooms as well as business services.

Facilities/Locations Free access to IoD lounges at the following sites, plus special discounts on meeting rooms and other services n IoD Scotland, 10 Charlotte Square n 200 SVS – Glasgow Hub n Forth Valley College Stirling Hub

The new IoD base in Aberdeen

Diesel 24 Fuelcard Diesel 24 is an independent distributor for Shell, Esso, Texaco, UK Fuels and Key Fuels cards and provides fuel management solutions to business. All IoD members receive a fixed weekly discounted rate for their fuel. Card fees will be waived for IoD members. The main benefits of the unique deal for members • Fixed weekly discounted rate for fuel • HMRC-approved invoice saving you valuable time.

• No annual card charges • No administration charges • No non-usage or under-usage charges • No minimum spend • Access to our network which covers all Shell, Esso, Texaco, Gulf, Keyfuels, UK Fuels, Fastfuels, Gleaner, Topaz, Morrisons, Co-op, Moto and Tesco • Designated Account Manager • Your own online account giving you control 24/7 • No contracts – Change cards anytime The Diesel 24 fuelcards save you time and money. Even if you are using a fuelcard already get in touch and see how much you can save on this fantastic offer: Sue Florence: Tel: 01698 537157 Email: sflorence@diesel24.co.uk

n The Centre for Entrepreneurship – Elevator, Dundee n Citibase Business Centre Aberdeen (pictured) n London – 116 Pall Mall + many centres around the UK Travel and Parking n Emirates frequent flyer benefits n Free ScotRail first-class upgrade with smartcard (see right) n Members and accompanying family and friends receive 20% discount on Swissport Lounges on production of membership card.

n Discounted parking (£10 per day Castle Terrace car park) for members using 10 Charlotte Square – contact the IoD office on (0131) 557 5488 for information. n Diesel 24 Fuel Card - All IoD members will benefit from a fixed weekly discounted rate for their fuel. Allcard fee will be waived for IoD members See this feature for more details on specific benefits, or contact the IoD office on 0131 557 5488, or via iod. scotland@iod.com. See www.iod.com/ Scotland or @IoD_Scotland

Emirates exclusive IoD Skywards upgrade Emirates works in partnership with IoD Scotland members on its Skywards frequent flier programme, automatically upgrading their membership levels from Blue to Silver or Silver to Gold.

Additional benefits include dedicated check-in, priority boarding, additional baggage & Emirates First & Business Class lounge access*.

Please contact Jill Niven, Senior Sales Executive – Jill.Niven@Emirates.com quoting your forthcoming Emirates booking reference to take advantage of this offer.

Emirates flies 19 times daily to Dubai from eight UK airports: London Heathrow, Gatwick, Stansted, Birmingham, Manchester, Newcastle, Glasgow and Edinburgh, offering seamless connections to over 160 destinations.

On board passengers enjoy world-class service, regionally inspired gourmet cuisine and over 3,500 channels of award-winning entertainment – plus phone, sms and Wifi connectivity from every seat. On the ground, First and Business Class passengers can take advantage of the complimentary Chauffeur Car service, expedited check-in, dedicated

baggage handling and luxurious lounges ensuring a seamless journey from start to finish. * Emirates has dedicated First & Business Class lounges in 36 worldwide cities along with several in Dubai. Our premium customers departing Glasgow will have access to one of these dedicated lounges while those departing from Edinburgh will be welcome to use the brand new No 1 lounge. * T’s & C’s – Skywards status upgrades will be valid for 1 year, tier miles must be maintained to retain status level; repeat upgrades cannot be approved.

UK-wide Member Benefits All members of the IoD can take advantage of exclusive business services: Information and Advice - Business Information Service n Research n Guidance n Advisory n Tax Line n Law Express

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Personal and Business Services at preferential rates n Directors Liability Insurances n Business Sales, Acquisitions and Strategy Services PLUS n Car and Van Hire n Professional Indemnity Insurance n Home and Contents Insurance

n Health Cash Plans n Office Insurance n Private Client Insurance n Director-level Jobs and Recruitment Influencing policy – Policy Voice IoD Policy represents your views to policy-makers across the key areas of public policy. Get your message through - join Policy Voice at policyvoice@iod.com

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Smart PA

Scotrail 1st Class Upgrade

SmartPA is a market leader in outsourced administrative, personal assistant and business support services. It frees business leaders from day-to-day management and administrative tasks that can hold them back, leaving them to focus on their core business.

Smart PA creates a tailor-made package to suit your needs, including weekly reporting, supporting delegation and providing full visibility of any need to scale up or down depending on your requirements.

As an exclusive benefit for IoD members, we are offering an 20% increase of support with each of our regular package hours.

Visit smart-pa.com/iod-offer or contact us on 0845 241 3372, quoting your IoD membership number

Ignite Your Brand Inspire and grow ambitious brands – from start-ups looking to acquire their first customers, through medium-sized organisations exploring new markets, to corporates looking to enhance their bottom line.

Inspire Your Brand is offering a half-day brand strategy workshop (face-to-face or virtually) for free as an exclusive offer to IoD members.

This provides ambitious organisations with an overview of their target markets and steps to improve their internal and external communications.

More details at www.inspireyourbrand.com

All IoD members can upgrade their seat on ScotRail to First Class.

To access this special offer: Apply for an individual Smart Card through the ScotRail Leisure Site, this process will take about 7-10 days from application to receipt of card, and will require the IoD member to upload their photograph. https://www.scotrail.co.uk/tickets/smartcard • Once the IoD Member receives their Smart Card, they should contact Elaine Chester (details below) to register their Smart Card number and contact details. This will also allow Elaine to contact IoD members in the future when Account Based Travel is available.

IoD Members can then: • purchase rail tickets online through the ScotRail Leisure Site, paying by card at the time of booking. Tickets will then automatically upload onto the Smart Card when they present the card at a Platform Validator or Gateline.

• buy a ticket from a Ticket Vending Machine (TVM) at the Station. When you buy from a TVM the ticket is uploaded immediately.

• Smart Card should be presented to on train staff along with the IoD Membership Card to qualify for the 1st Class Upgrade.

• If an IoD member is looking to open a ScotRail Business Travel Account for employee rail travel, this can be done by contacting Elaine Chester – elaine.chester@scotrail.co.uk Terms and Conditions • Advance Tickets do not qualify for this offer.

• The 1st Class upgrade is available on Anytime and Off Peak tickets only, and subject to availability of seating in 1st Class.

• Only IoD members with a ScotRail Smart Card will qualify for a free 1st Class upgrade, subject to availability and ticket type.

• This offer may be withdrawn at any time.

The 1st Class upgrade is available on ScotRail services only.

If you already hold a Club 50 Card or Smart Card you do not need to apply for another card but you still need to contact Elaine Chester – elaine.chester@scotrail.co. uk with your card details.

1st Class upgrade is NOT available on discounted Club 50 purchases or Flexipass.

Hotels and accommodation IoD Scotland has negotiated a host of superb discounts and special offers for members at hotels across Scotland.

• PH Hotels - 15% discount on food, beverages and accommodation at IHG Hotels: Kimpton Charlotte Square Edinburgh, Kimpton Blythswood Square Glasgow, Intercontinental on George Street Edinburgh and Voco Grand Central Glasgow.

Contact hotels direct. Also new 15% discount on the Gym & Spa at the Charlotte Square Hotel – now rebranded to Kimpton Hotels.

Quote IoD Scotland member when booking.

• Kingsmill Hotel, Inverness – Preferential rates for members • Holiday Inn, Edinburgh – 15% off best available rate, plus free wifi, unlimited access to Spirit Health Club and free parking. To book 0131 314 7018 or reservations@hiedinburgh.co.uk, quoting IOD Scotland.

• Malmaison Hotels – 20% off lunches and dinners in Aberdeen, Dundee, Edinburgh and Glasgow; 10% off best available rate for bedrooms in Aberdeen and Dundee.

• Locke Apartments - 20% discount • Lateral City Apartments - 12% discount • Fountain Court Premier Apartments - discounted rates • Mode Aparthotel, Edinburgh – discounted rates. Members are asked to book through Geeta.wilcox@modeaparthotel.com or call 0131 370 8433.

• Angels Share Hotel, Edinburgh – 15% discount. Quote GLC15 when booking.

• 20% off at Eden Locke – designer apartment with the facilities, amenities and services synonymous with a boutique hotel.

Visit LOCKELIVING.COM and enter code “LOCKEDIN” for 20% off Best Available Rate.

Leisure stays at weekends 15% off through

Left, The Map Room, Principal Edinburgh

website - enter the code LIVELOCKE. • 12% discount Lateral City Apartments • Fountain Court Apartments See www.fountaincourtapartments.com/ apartments/braid/gallery/ To book, please contact sales@fountaincourt. com and receive special discounted rates.

Please quote “IOD”.

• Hawksmoor Edinburgh – a round of drinks on us when eating. Quote IoD when booking.

Where Now Consulting offers new service to IoD members Where Now Consulting is a leading management consultancy that specialises in helping companies and organisations to develop effective growth and operational plans, and to convert these into actions and results.

IoD Scotland Member Benefits Members receive • One hour of free consultancy or advice • A 10% discount

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Our team of experts provide practical advice on: • Business growth • Mergers and acquisitions • Business performance improvement • Market analysis and insights • An online IoD members’ portal via the Where Now Consulting website, a platform for interaction between IoD members and the Where Now Consulting team

For more details Call 0141 370 8999 Email: info@wherenowconsulting.com Web: www.wherenowconsulting.com

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Events diary

Event details: Contact Patricia Huth on 0131 557 5488 or email Patricia.Huth@iod.com

AI – Artificial Intelligence: The key to increased productivity Date: Venue: Time: CPD: Prices:

Why Barclays chose Glasgow Date: Venue:

Time: Price:

13 June Barclays Gateway Building, Glasgow G2 8AE 6pm-8pm Free of charge

Find out why Barclays chose Glasgow to be the home of its new global technology hub in what was one of the largest ever inward investments in Scottish history.

Join us at The Gateway facility for a preview of this temporary structure erected on the site at the Southern end of the Tradeston footbridge, which has been designed to allow members of the

community to learn about the development.

Craig will highlight what Barclays has planned for the Hub, which will be populated by more than 5,000 colleagues in fewer than three years.

It’s a story that truly validates why Glasgow is such a great place to do business!

Includes drinks and canapes.

Event timetable: 6.00pm - Guests arrive. Drinks and light buffet, networking 6.30pm - Welcome and Presentation

by Craig Jamieson, Chair, IoD Glasgow & West of Scotland Committee 7.00pm - Questions and answers 8.00pm - Close Street car parking is available.

Learn & Lunch: An introduction to Innovation Engineering Date: 10 Sept Venue: IoD Scotland, Edinburgh Time: 12 noon-2pm CPD: 1 hour Price: Members £15 + VAT

Non-members £20 + VAT This event will deliver a 45-minute introduction to Innovation Engineering, including an explanation of what Innovation Engineering is and how, at its heart, is the notion of Meaningfully Unique ™.

Helen Potter’s story will highlight the benefit of knowing how to innovate and discover how it is possible to turn innovation from a random gamble to a reliable system.

This event is aimed at MDs, FDs and HR Leads – indeed,

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anyone who wants to grow their business through innovation or who want to embed innovation capability into their business Companies which innovate realise 200 to 300% increases in profit growth when they transform to a proactive innovation culture versus a reactive price driven strategy. Innovation Engineering (IE) is the only data-driven, evidence based, fully documented system for innovation in the world.

This session will be led by Helen Potter, who is pioneering the introduction of IE to Europe from her home in Perthshire.

19 June IoD Scotland, Edinburgh 5.30pm-8pm 1 hour Members and guests £15 + VAT Non-members £20 + VAT

Will Artificial Intelligence (AI) liberate us or replace us, and how can we use it to enhance our productivity?

Should we believe the hype around AI? Explore the opportunities (and risks) that AI brings and discover how we can harness the benefits right now.

Are we on the cusp of a sci-fi future where we can relax and focus on our creative and leisure interests while robots do all the mundane, repetitive jobs?

Or are we doomed to be made redundant by technology, with our individuality erased as our behaviours and choices are determined by algorithms?

Could the use of software tools and machine learning enable us to operate more effectively and productively?

Of course, the reality is more likely to be a mixture of all of the above – and at this event we will explore all the options with our panel of speakers.

• Gary Gillespie – Chief Economist, Scottish Government • Dimitrios Michelakis – Head of Mapping and Earth Observation team, Ecometrica (www.ecometrica.com) • Alastair Andrew – CTO and cofounder, Airst (www.airts.co.uk) Discussion will be chaired by Stephen Westwood and the evening will conclude with a Q&A session, allowing delegates to explore the issues with our expert panel and obtain a clearer understanding of the data and tools that we can use to be more successful.

This is a joint event between IoD Scotland and ICAEW Members in Scotland (IMS)

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Networking at Sea on board the SV Tenacious Date: Venue:

Time: Prices:

11 Sept SV Tenacious, Customs House Quay, Greenock 8.30am-5pm Free of charge

Join us for an exclusive day of networking at sea as you are cordially invited to join IoD Scotland for a unique and unrivalled experience on-board the SV Tenacious, an ocean-going sailing ship which has been specially designed to be accessible for all abilities throughout.

The day will give you the chance to connect with other IoD members and get involved in the working of the ship, to learn about the mission and purpose of the Jubilee Sailing Trust, or simply to relax as we sail around the Firth of Clyde.

Get involved as much or as little as you wish.

The Jubilee Sailing Trust (JST) was founded to help a diverse range of people facing challenges in their daily lives by:

• Providing liberation from their restrictions • Helping to transform fear into freedom • Allowing individuals to explore their ability, potential and place in the world The JST achieves this by creating a safe, inclusive and non-discriminatory community on board two flagships, which sail the high seas with a crew of all

ages, backgrounds and abilities.

We are now seeking like-minded partners to join our mission and, at the same time, strengthen their own organisations by enabling staff to explore new abilities, talent and potential.

This is your chance to see if you want to get involved with this wonderful organisation be inspired by what you find on board.

Summer drinks... and 99 Socials 99 Socials, Dundee, Edinburgh Date: 20 June Venue: Henderson Loggie - Dundee

Date: 17 Sept Venue: Deloitte Edinburgh, Saltire Court, EH1 2DB Both events: run from 6pm-7.30pm and are free We want to meet you, the ambitious entrepreneurs of Dundee and Edinburgh, at these two free-of-charge IoD 99 events. Both are informal networking events over drinks and canapés and will give you the opportunity to learn how you can access the IoD’s support services to accelerate business growth.

The Dundee event is hosted by Henderson Loggie in the Vision Building, while the Edinburgh is hosted by Deloittes. Both will be opened by Alexandra Mancini, Chair, Young Directors Forum, and will include an opportunity for short micro pitches from attendees (roughly one minute minute each) before networking and drinks.

The event is free to attend, but places are very limited, we expect there to be a lot of interest, so please book on early.

If you are an IoD 99 member just register with us that you are coming. We have a small number of guest places available, so if you are not an IoD 99, but are the founder/ co-founder of a start-up, we would love to have you along, just let IoD Scotland know.

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Members’ Connectivity Drinks Evening

Date: 27 June Venue: IoD Scotland, Edinburgh Time: 5pm-7pm Price: Free of charge We would like to invite all our recent new members as well as existing members to an informal get together. Over drinks and nibbles, you will have the opportunity to meet other members, as well as the IoD Scotland team and learn more about the facilities at Charlotte Square to enjoy drinks and nibbles. If you have a colleague who is interested in joining the IoD, please feel free to bring them along.

Summer Drinks Reception, Glasgow

Date: 27 June Venue: Barclays Office, Glasgow Time: 6pm-8pm Price: Free of charge The IoD Glasgow & West of Scotland Committee invites you to a Summer Drinks Reception to celebrate the start of the summer season.

It’s the perfect opportunity to meet the committee and network with members. The event opens at 6pm with drinks and a light buffet, before a welcome from Craig Jamieson, Chair, IoD Glasgow & West of Scotland Committee and networking.

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IoD Events: Director Development

For details on all events and to book, contact Ms Avril Gall on 0131 557 5488 or director.scotland@iod.com

Making an impact for business presentations – A Ros Taylor Masterclass Date: 17 July Venue: IoD Scotland, Edinburgh Time: 9am-1pm Price: Members £175 + VAT

Non Members £195 + VAT This workshop will help participants to present to any size of group and have a rewarding, enjoyable experience. You will learn how to put a presentation together speedily without jeopardising quality, and how to be relaxed enough to focus on the audience not your beating heart.

You’ll also learn: • What makes a good business presentation?

• The nature of body language – the essential components to make an impressive impact • The Magic Process for speedily constructing effective business presentations • An introduction to Mind-Mapping • How to involve an audience • Relaxation and visualising success It will be led by Ros Taylor, a leading UK

and international clinical psychologist, corporate and leadership coach who travels the world developing the leadership potential of employees through her Just Leadership programme. She is a visiting professor at Strathclyde Business School focusing on leadership and runs her own successful leadership and coaching business.

• All IoD Scotland masterclass half-day workshops can be taken alone or in conjunction with five other masterclasses that aim to provide practical learning and focus on the different behaviours and skills needed to be effective on boards.

Of relevance to individuals who are directors and those about to be appointed within the Private, Public and Third Sectors, this series is for those serious about their professional development.

There are six Masterclasses in this series; book on all six and pay for only five.

Contact director.scotland@iod.com

Directors’ accountabilities in a digital era Date: Venue: Time: CPD: Price:

7 Nov IoD Scotland, Edinburgh 9am-1pm 4 hours Members £150 + VAT Non-members £195 + VAT

This half day (9-1) workshop addresses navigating board risk, compliance and security threats in today’s business world.

Security and risk management must go beyond technology and network infrastructure products. It needs to be an on-going process that includes people throughout an organisation. Understanding the risk levels that your organisation faces and effectively leading change to protect your individual legal accountabilities, as a Director, is paramount.

Professional Director Series: The Chair Workshop Date: 29 Aug Venue: IoD Scotland, Edinburgh Time: 8:30am - 5pm Prices: Member Early Booking Rate

£310 + VAT

Members £345 + VAT

Non-Members £395 This one-day workshop (9-5) explores the pivotal role of the Chair. Perhaps the single most important area with which a board can improve its effectiveness is how it is chaired. This requires two things to happen – the Chair leads the board and the understanding by the other directors of the rules of engagement. Have you ever noticed how good Chairs seem to effortlessly get through the business of the board and yet ensure that everyone has their say?

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Have you noticed when you leave the board meeting with a sense of achievement rather than the nagging doubt that it probably was not the best use of your time? The ability to chair any meeting is an important facet in the development of managers; once appointed to a board there is more than likely to be a requirement to chair board sub-committees or lead the board itself at some time in the future. Too often the training in the art of chairing a meeting or leading a board is left to chance or learning by observing others.

There are some basic rules which this workshop seeks to explore: • Setting agendas • Keeping to time • Controlling the meeting

• Stimulating the debate • Understanding board culture and what lies behind what people say • Winning board behaviours • Working with the CEO • Role of the chair between meetings • The external role of the chair • Evaluating performance • Ensuring adequate information • Devising board composition.

This is a highly interactive workshop which seeks to outline the theory of leading boards and put this theory to the test through group discussion, workshops and case studies. It is aimed at directors, soon-to-be directors and those serious about their professional development as chairs or future chairs, in the public, private or Third sectors.

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Driving Eureka! Innovation Engineering for Leaders Date: 03 Oct Venue: IoD Scotland, Edinburgh Time: 9am-5pm CPD: 8 hours Price: Members Early Bird £310 + VAT

Members £345 + VAT

Non Members £395 + VAT This workshop is for directors who want to know how to embed innovation into their organisation.

Companies that innovate realise 200 to 300% increases in profit growth when they transform to a proactive innovation culture versus a reactive price driven strategy. However, research indicates

The Apprentice Director Workshop Date: 8 Oct Venue: IoD Scotland, Edinburgh Time: 9am-5pm Price: Members Early Bird

£310 + VAT

Members £345 + VAT

Non-members £395 + VAT This one-day workshop is designed for the newly-appointed, or apprentice, directors who want to gain the basic tools to do the job. It outlines the role and legal responsibilities of a director and explores how the apprentice moves from managing to directing.

The workshop will include: • The legal duties of a director • The legal and regulatory environment • Company Constitutions • Corporate Social Responsibility – its width and its relevance • Relationships with shareholders and stakeholders, including use of social media • Board structures and organisation • Contributing at board meetings • Relationships with the chair and the non-executive directors • Board decision-making • Understanding strategy and risk including cyber risk • Director contracts and removal of directors • Director and board evaluation The workshop will help improve your current performance as a director and help you prepare for your first appointment to the board.

Opportunity to network and learn from the experiences of other delegates.

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that leaders believe innovation is risky, takes too long or they simply do not know how to innovate.

Innovation Engineering (IE) is a new field of study that transforms innovation from a random gamble to a reliable system that delivers increased speed (up to 6x) and decreased risk (30 to 80%).

In this highly interactive workshop, participants experience some of the tools that could enable their teams to create, communicate and commercialise big ideas for new products, services or work systems faster and with less risk.

Focusing on the role of the leader and how to build innovation into a business

plan to drive innovation success, participants will get to practice the Strategy Activation System. This ensures the innovation effort is focussed in an area that is both important and possibly urgent for the business.

The workshop comprises short presentations followed by fast-paced group exercises to practice the innovation tools. It will be led by Helen Potter, co-founder and CEO, Potter Innovation, who now teaches leaders how to turn ideas into reality, quickly and with less risk, by using IE, a proven, data-driven, systems-based approach to innovation.

The Role of the Family Business Director and the Board Workshop Date: 9 Oct Venue: Crieff Hydro, Crieff,

Strathearn House,

Crieff PH7 3LQ Time: 9am-5pm CPD: 8 hours Price: Members Early Bird £310 + VAT

Members £345 + VAT

Non Members £395 + VAT This one-day workshop explores the role of the director and the Board within individual and family-owned companies. Important aspects of the director’s role are the legal duties and changing architecture of governance, which have much to offer both start-up companies and established familyowned companies.

It will give participants: • Overview of relevant principles of governance for board effectiveness.

• Directors’ statutory duties and responsibilities.

• Why the company’s property

belongs to it and not the shareholders.

• Striking a balance between family control and effective management people and processes.

• The role of the Family Council.

• The role of the independent NXD. • The role of the professional advisor.

• Family Business Survival - energising succeeding generations.

• Next Generation Leadership development.

• Working with providers of private equity.

• Family Business exits.

It will be led by Mairi Mickel, a Family Business advisor with her own consultancy specialising in succession planning - Mairi Mickel’s Business Families.

She tutors, speaks and publishes within the UK business sector on topics such as family business governance, family business leadership and next generation development.

Mastering the Art of Strategic Questioning Date: 21 Nov Venue: IoD Scotland, Edinburgh Time: 9am-5pm CPD: 8 hours Price: Members £345 + VAT

Non-members £395 + VAT Questioning skills are the sine qua non of successful business leaders.

In this highly interactive one-day workshop (9-5), you will learn a breakthrough questioning method that is steeped in investigative journalism,

cognitive neuroscience and social psychology. The method emphasises humility, finely tuned listening, empathy, and Eastern and Western perspectives on mindfulness – an ideal model for effective leadership and governance.

This workshop will offer you a new way to think about and ask questions, and will be led by Dr David Steinberg, a consultant and university lecturer who specialises in advanced questioning skills.

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A new global force for Scotland

There is a newcomer in town – Vistra has arrived in Scotland.

Established for over 150 years, with four companies in the Group – Jordans Limited, Jordans (Scotland) Limited (previously Oswalds), Jordans Corporate Law Limited and Jordans Trust Company – Jordans has now become part of Vistra, which employs over 4,000 professionals across 46 jurisdictions throughout the Americas, Europe, Middle East and Asia Pacific.

Vistra’s expertise and hands-on approach helps their clients’ businesses run smoothly and seize the opportunities to grow, to innovate and to expand into new markets, and new countries.

The company is in the unique position of being able to provide clients with everything they need under one roof; from business information services, antimoney laundering and compliance support, international expansion, UK and international incorporations including company secretarial, to wider corporate governance support, director, accounting, tax and legal services.

Andrew Cockburn, Director Scotland, Corporate Services explains: “We have always provided our clients with opportunities to do business throughout the world but being part of a global group with a presence in 46

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jurisdictions has opened up exciting new opportunities for our clients in Scotland and further afield.

‘This has helped us to win new business and enhanced the service we offer to existing clients. Given the age and reputation of our business, it has also provided Vistra with a stronger presence in Scotland and the UK. “We have some great growth plans and a key part of those plans is reassuring our longstanding clients that they will continue to receive the very personal service that makes our approach so unique.

“Probably best known for company formations and company secretarial support, globally we incorporate over 50,000 companies per year. As part of Vistra’s global network this makes us the perfect partner for professional firms, business owners and entrepreneurs looking to expand into new markets or support their clients from Scotland,” Andrew said.

Vistra also provides

expertise in other service areas including alternative investments, fund administration, regulation and compliance services, private clients, structuring and asset protection, and relocation and residence support, to name but a few.

Andrew added: “Moving from strength to strength, Vistra continues to grow into new jurisdictions while remaining focused on delivering quality services. With an in-depth knowledge of international jurisdictions, we provide expertise and support to clients as they conduct business beyond their borders.

“The completion of the rebrand confirms we are now fully embedded into an integrated, full-service global business. At a time when many UK businesses are looking further afield because of the changes Brexit may bring, we are now ideally positioned to help UK companies successfully establish their operations overseas, as well as enable international companies who wish to establish a presence in Scotland and the UK.” • Vistra in Scotland can be found at 4th Floor, 115 George Street Edinburgh EH2 4JN T: (0)131 226 8282 E: andrew.cockburn@vistra.com edinburgh@vistra.com W: www.vistra.com

“At a time when many UK businesses are looking further afield because of the changes Brexit may bring, we are now ideally positioned to help UK companies successfully establish their operations overseas ...”

Andrew Cockburn (pictured) WWW.IOD.COM