Is Talent Enough? Why Boards Are Betting on Experience

When every decision feels like a high-stakes gamble, boards are turning to proven and time-served judgment over raw talent. Experience isn’t just an advantage, it’s the ultimate risk hedge. 

Global uncertainty, political volatility, and regulatory whiplash have created an environment where the cost of a wrong move far outweighs the reward of a bold one. In this climate, resilience matters.  

As part of our ‘Leading Through Uncertainty’ series, Kate Burns, Chief Operating Officer at Odgers, joins Mark Freebairn, Head of our CFO and Board Practices, to discuss changing leadership expectations and how boards can make confident, transformative decisions when the stakes are highest. 

Why Experience Wins 

Periods of deep uncertainty stall investment, slow decision-making, and inhibit growth. In such conditions, organizations are prioritizing leaders who’ve faced the storms before and delivered, including the dot-com bubble, the financial crash, Brexit, COVID, and war.  

Mark commented: “These executives know what to do when the map runs out. Having made the counterintuitive high-pressure decisions and invested in uncertainty when instincts may have said otherwise, this judgment is invaluable. Past resilience is the best predictor of future stability.”  

The Anatomy of Leadership Under Pressure 

Exceptional leadership is very rarely a solo act. Today’s Chairs tend to fall into two distinct archetypes, both of which place experience over promise: 

• ‘The conductor’ assembles a virtuoso team of top talent and lets them play, intervening only to orchestrate success. 
• ‘The practitioner’ moves in lockstep with the CEO, guiding the board through complexity with a steady hand. 

For CFOs, the calculus is even starker. In tight credit markets, deep relationships with credit committees and hard-won expertise in raising finance can spell the difference between survival and stagnation. 

Waiting Is Riskier Than Change 

“Uncertainty is cyclical. It is without a doubt prolonged, but it follows a period of growth and will also be followed by a period of growth,” added Mark. “The skills you need now aren’t the same as those you’ll need in the next growth phase. Boards must hire for today while preparing for tomorrow.” 

Keeping familiarity at the table may feel like the safer option, but it isn’t; introducing exceptional leaders delivers immediate value.  

The cost of hesitation is far greater than the cost of change. 

According to Mark, there are five leadership imperatives to consider for organizations navigating uncertainty: 

1. Recognize and prioritize the value of proven experience. 
2. Build leadership teams that complement each other. 
3. Adapt hiring criteria to market conditions. 
4. Balance short-term stability with long-term growth. 
5. Plan for cyclical change. 

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