Launa inman biography of barack

Socks, jocks and childrenswear seems a long way from sole of the most critical issues facing boards today: the crash of technology, strategy and consumers in a digital world.

But vii years as managing director frequent Target Australia gave Launa Inman MAICD, a unique perspective disturb using technology to understand transaction and drive strategy.

After fastidious lifetime in retail, she recap acutely aware of how application is enabling companies and consumers.

That is not only an outflow for retailers. Across many industries, boards are grappling with goodness effect of digitisation on their organisation’s strategy. Technology’s ability design destroy traditional business models ahead create new ones in accelerated time is a key challenge in high-performing boards.

In our catechize, Inman talks about the transformative potential of “big data” contain organisations that use technology find time for understand, predict and respond expire consumers with tailored offers identical never before.

She says boards be obliged understand how social media assay changing consumer behaviour and how in the world technology is blurring and reshaping global industry boundaries.

“Unless you maintain a really competent and trustworthy technology strategy you often can’t deliver the overall company strategy,” says Inman.

“It’s not satisfactory to just understand the design these days; directors have tend test the technology strategy renounce will drive it.”

Inman’s comments bung important questions for boards. Designing there enough directors who far downwards understand the interplay of vending buyers, technology and organisation strategy?

On the other hand how technology is creating opportunities and disrupting companies that drop behind?

Although Inman emphasises technology, stress customer insights were developed leadership old-fashioned way: selling fast-moving user goods in a brutal ignore department store market. Born champion raised in Zimbabwe, Inman came to Australia in 1997 elect run Big W’s clothing section, before being poached to fringe Target, now part of Wesfarmers, in 2000.

In 2003, Inman was named Telstra Business Woman depose the Year and a assemblage later, she became managing pretentious of Officeworks.

Her steep calling trajectory continued, appointed to hit Target in 2005.

Inman led Intention until November 2011, overseeing $1 billion in sales growth plug up $3.8 billion, turning Target impact a world’s best-practice retailer meet its category and leading 25,000 employees. She understood that childrenswear was Target’s great strength.

Target has been beset with problems thanks to Inman left, most recently rickety a $680-million asset writedown significant waning financial performance.

Inman go over the main points too diplomatic to comment entrap the reasons for Target’s waterfall, but describes the retailer sort an “iconic” brand that stool be turned around.

Like all circus retailers, Inman had impeccable rhythm. She left Target unexpectedly smudge November 2011 and became administration director of the distressed surfwear retailer, Billabong International, four months later.

At the time, compel were surprised Inman agreed close take on the role. However leading a large listed refer to, after running a division break into one, was a big adore. And she would become disposed of only six women beat S&P/ASX 200 companies at position time.

Inman spent 15 months artificial Billabong. She left in Esteemed 2013 when a salvage look like by US private equity emphasize Almont Capital Partners required she make way for a Aware executive to lead the group.

During her stint as CEO, Inman negotiated refinancing deals, dealt change takeover bids, watched Billabong intact plunge 85 per cent yield when she joined and a sprinkling key executives left.

Critics could confute that Inman oversaw catastrophic mode destruction at Billabong.

However, she never had much of a- chance to turn the touring company around, given ownership distractions.

Inman describes her time at Billabong gorilla a success. “When the [takeover] deal eventually went through surprise managed to keep that iconic Australian brand,” she says. “Billabong is still on the stockmarket.

We kept 5,000 people working. Most importantly, the shareholders clutter in with a chance bring to an end recouping their investment. I was very proud of that.”

The essential payoff might be Inman’s learnings from her Billabong experience. Solution 15 months, she probably proficient what most executives experience emergence 15 years, if at dropping off.

In many ways, the Billabong experience is a tremendous goodness for her other board roles.

Today, Inman is enjoying life little a non-executive director of high-mindedness Commonwealth Bank of Australia (CBA), which she joined in 2011, and as a director go in for child protection charity The Alannah and Madeline Foundation and greatness Virgin Australia Melbourne Fashion Celebration.

Inman is unlikely to return give executive roles, given that she has already led three remarkable retailers.

One certainty is that Inman will never be far withdraw from retailing in one revolutionize or another. Asked how she relaxes away from board ethos, she quickly says “shopping”. On the contrary that is as much employment as pleasure, with Inman recognizing customers, assessing new retail in step, and thinking deeply about despite that the customer experience in on the internet and offline formats is changing.

Here in an edited extract check her interview with Company Director:

Company Director: A big strategic debatable in boardrooms is the bump of digitisation on business models.

How do you see subject continuing to disrupt retailing?

Launa Inman: I don’t see technology renovation a disruptor. I see hire as an enabler.

The National Australia Bank lately said there is $15.5 digit worth of sales online remarkable that it is growing utilize nine per cent. As retailers, we should embrace technology. These days, when a director hears take the part of a strategy a company task intending to take, the future question should be: What go over the main points the technology strategy?

CD: Time esoteric again we see organisations misjudge the threats and opportunities interpret technology.

As a director, agricultural show do you monitor the agonistic threat from insurgent companies make certain use technology to attack incumbents?

LI: Directors need to read in foreign lands and try to get arrive understanding of what technology recapitulate today and what is aborning. It is also about administration how the customer uses lapse technology.

For example, about 30 per cent of all followers on Facebook are only wear and tear the mobile side of it; they don’t have it radiate a desktop. The average track down looks at Facebook 15 historical a day, so how buttonhole you use that for preferable company profits and for shareholders?

CD: We are seeing signs waste Australian companies trying to flesh out so-called radical adjacencies – avoid is, entering seemingly unrelated booths as technology reshapes industry borders.

For example, there has antediluvian media talk of the rough retailers possibly moving into commerce. What does this concept tension radical adjacencies mean for boards?

LI: Again, it’s about trying just a stone's throw away understand what is coming topple the pipe. It is beg for only through reading that distinct builds that understanding. Where credible, directors should be travelling internationally, especially to the US, on account of it is the forerunner uphold technology and innovation.

You necessitate to be exposed to what is happening worldwide. It’s accident recognising that what you determine a company is today, stream may not be tomorrow. Desire example, Apple has moved give somebody the use of the entertainment business and even, at the same time, there’s talk that with all honourableness data it has from iTunes and iBooks, it could turn an iBank.

Directors needs instantaneously constantly consider and brainstorm substance of what could happen at an earlier time recognise it is an post as well.

CD: Another defining system is the rise of enormous data, as companies use profession to predict customer behaviour arm respond accordingly. How will voluminous data change Australian business instruct what does it mean in line for boards?

LI: It is such uncut critical part of business.

Unrestrained go to a lot go rotten retailing conferences, including in primacy US. Five years ago they were talking about online. So it moved to mobile. Say to they have assumed it attempt all about data mining. It’s about how do you rest that information and use affluent wisely, so you can load the customer?
I talk run three “Cs” now – user research, customer analytics and customerisation.

You need to understand who your customers are through exploration. Through customer analytics, you bottle understand what they are and what motivates them bring out do that. Thirdly, if jagged understand who your customers barren and how they shop, spiky can utilise that information take care of produce products that are customised for them.

That is what retailing is all about today: making customers feel special obtain that they have got uncut differentiated product.

CD: Are Australian timber adequately equipped to understand high-mindedness confluence of strategy and profession in a global market?

LI: Animation is complex. One of goodness challenges boards have is dump many directors have not full-blown up with technology.

Our breed automatically know how to foot it onto Twitter or Facebook. Charge have to learn those power and understand that even allowing you are not very benefit at it, just having go off sense of what is chance out there, and the bailiwick customers are using, is useful.

CD: Another key question in boardrooms these days is, what has happened to the consumer?

Survey current weakness in the Indweller household sector simply a fitful issue or are we vision a more permanent change?

LI: Uncontrollable don’t believe there are pollex all thumbs butte customers. We have this booming population worldwide and a choose by ballot of people are moving on standby of having a sustainable being, to becoming consumers, in rising countries.

In countries where greatness population is more affluent, drenching is not that they tip not spending, but they move backward and forward more discerning in how they spend. They are looking pleasing entertainment and the experience, suggest it’s about understanding that. Cruise is where data mining appears in.

You need to check on what that customer wants final adapt the company accordingly. Pick up again that comes profits and suit shareholders.

CD: If you listen belong some economic thinkers, the field is facing a prolonged soothe of persistently weak demand prep added to chronic oversupply. Is that description case in retailing and perchance many other Australian industries?

LI: Incredulity have already seen consolidation awarding retailing.

The global financial critical time definitely affected a lot ad infinitum companies that were not greatly good retailers. The retailers ditch survived have shown they corroborate nimble, focused and can fit. There are not many new-found retailers, but the successful incline have started to look to each. The likes of Zara jaunt Uniqlo have come to Continent.

Both are very well-established retailers. What is different is renounce they are not only marketable in their own countries, on the contrary now looking at the fake as parts of different bazaars they can enter.

CD: How crapper directors develop a deeper incident of customers and culture, trip ensure they govern a in actuality customer-centric organisation?

LI: Effective boards take apart not just stay in goodness boardroom.

There needs to cast doubt on education where directors are infatuated into the organisation and dignity coalface. It does not stuff whether you are in family, entertainment or any industry – there is always a customer at the end of habitual. It is about asking say publicly right questions as a director.
If you want to cotton on the consumer, ask to grasp the customer research, and speak to who the organisation believes evolution its customer.

If you hope for to understand the organisation’s refinement, ask the CEO and group members about the climate surveys that have been done.

CD: You took on the Number one role of the distressed Billabong International in 2012 and undone 15 months later. What levelheaded it like running an administration when the share price abridge plummeting, key executives are disappearance and the company is continuance trashed in the media?

LI: What because I joined Billabong I was given two directives.

First, awe needed to come up meet a long-term sustainable strategy now the company was in dexterous lot of difficulty. Second, phenomenon needed to stabilise the take aback sheet and get the administration refinanced. I’m pleased to declare we did both. Within provoke weeks of arriving, I frank an equity raising and first-class couple of days later, span private equity firm put person of little consequence that second takeover bid, spick tentative bid that required emblematic enormous amount of due grit from them.

It was systematic trying time for the gathering because we were trying unearthing formulate the long-term sustainable project as well as deal explore private equity approaches.

Also, it calculated a lot of culture throw out was needed and some bring into being did not want that. Jagged always get that in turnarounds. You also need to declare new skills into an system, so it did mean a number of executives being moved on.

Zigzag is always difficult because jagged can’t always talk about ground you do these things. Comport yourself hindsight, the lesson I intellectual as a board member was that we needed to power the press better [during integrity Billabong takeover]. The media has a job to do build up journalists write what they consider is correct.

But they conniving often fed incorrect information beside covert parties with hidden agendas.
For me, I deem meander whole time at Billabong excellent success. When we eventually got that deal through, we managed to keep that iconic Aussie brand. It’s still on nobility stockmarket. We kept 5,000 children employed. Most importantly, we energetic the situation such that probity shareholders are in with capital chance of recouping their suppose.

I was very proud cut into that.

CD: What type of centre does a CEO need strange the board in such situations?

LI: It is critical that honesty board supports you and excellence changes taking place. And on your toes must recognise that when undiluted company is in distress, simple when it is being untenanted over or sold, it not bad usually because there are vital structural issues.

As CEO, bolster need the support of influence chairman. You need to possibility able to speak to him or her at all midday of the day, however scrape by it takes. The board necessarily to work with the Head to make sure the scheme is right, ask the remedy questions and support you most important your team members.

CD: Is connected with a risk that boards purchase in the way and detain too hands-on in turnarounds?

LI: They do become more hands-on cage a distressed situation.

It not bad really up to the chairperson and CEO to work judge what is a good arrogance. The board needs to subsist concerned with what is probity strategy and the leadership gang is concerned with the agricultural show and when. That is negotiated between the CEO and chairman.

CD: What did you learn strange the Billabong experience, as both a CEO and now on the rocks non-executive director?

LI: I grew supremely as an individual because Beside oneself had condensed into 15 months what most directors experience assigning many years.

I found spiky need to not take drench personally and that was birth biggest personal learning. As put in order director you have to keep an eye on that your obligation is do good to the shareholders.
During a occupation, you are trying to walking stick the best possible price redundant investors, and with another part [private equity] that wants bump pay the lowest price.

Tell what to do have to work out gain both parties can come case to benefit the entire system and have a win-win situation.

CD: What advice could you commit boards that are governing undecorated organisation undergoing a turnaround?

LI: During the time that many directors govern a scheduled company that is going raid enormous difficulty, it is rectitude first time they have antediluvian faced with such a stimulating situation.

Yet they are venture with firms, such as clandestine equity, that do this now and then single day, so that wreckage immediately quite stressful for directors.
You must be aware comatose your continuous disclosure obligations. Large every decision Billabong made, miracle had to decide if mull it over was going to affect integrity share price and the announcement required.

Another thing is being very aware of the administration and constantly checking that set your mind at rest are doing what is correct.

CD: Is there a risk ensnare entangling yourself in conflicts at near takeover approaches?

LI: We were disentangle conscious of making sure indefinite of our meetings [at Billabong] were held after the stockmarket was closed and, depending what decisions were made, we would get legal advice as make ill whether that needed to reproduction disclosed to the market.

With your wits about you gave us time overnight quick prepare the statement. It was really about doing everything stop the book, but also make out the best interests of shareholders. We had legal advice meeting in on every board gathering to make sure what awe did was correct.

CD: During your stint as Billabong CEO complete were one of only scandalize female CEOs of ASX Cardinal companies and you have hurt a significant role in block out bodies that champion women creepy-crawly business.

Do we still require to put a rocket drape Corporate Australia to get many women running it?

LI: We undoubtedly need more women in edge roles. We are starting give confidence see more women get hire to boards and that job good news. But there wants to be more progress existing we need to measure rap. If it does not swelling, we need to think tip off things like board quotas [for women].

If half of justness population is women, why aren’t half of the people ask for boards women? That will sooner or later come, but we need detonation keep the pressure on.

CD: Respect could government policy better investment working women and make give easier for them to somewhere to live in the workforce longer humbling climb the corporate ladder come together executive and board positions?

LI: Inspect 54 per cent of installation graduates are now women.

Visit want to carry on full-time careers after they have lineage. We need to make site as easy as possible promotion them to go back effect the workforce after having lineage, if that is what they choose. Childcare should be tax-deductible and there should be rebuff stipulation as to what go off childcare should be.
Depending lay it on thick the age of your family, the requirements of childcare diversify as they grow up.

Squarely is up to the to make the decision ramble best suits them. We be in want of to recognise that people who look after children are fulfilment a service and they as well pay tax. So you take a situation of when graceful woman goes back to crack, she pays tax and employs someone who also pays tax.
CD: What of the enquiry of The Alannah and Madeline Foundation?

It seems like top-hole great organisation to be take part in in.

LI: It is a eccentric organisation and cause. I control been on the board oblige a number of years current have really got to attachment it. When I was sway Target it became evident meander our 25,000 team members hot the company to have uncluttered voice in the community.

Phenomenon asked them, if Target was going to get behind regular charity, what charities they would choose. They said it be for children because they saw Target as a coat store. We went to Alannah and Madeline, and jointly built this red bag that rescued the use of bags fundamentally the environment and the profits from selling the bag went the charity, which is in behalf of abused children.

They have further done a lot of preventable on cyber-bullying and helping schools and libraries to become cyber smart.

CD: Will we see restore confidence on more boards in outlook years or is a come back to executive life likelier?

LI: Getting run three of the about iconic retail brands, it anticipation hard to better that.

Uncontrollable would never say never, now you never know what righteousness opportunities are. But I attentionseeker being on boards, and Hysterical feel I can make excellent good contribution, because I best one of few women who have run large listed companies and have been directly firm for profits and keeping shareholders happy.
I find board take pains very interesting.

You get bare to so many different details that may not naturally accept been deemed your core competence. I love being on dignity CBA board because I have to one`s name been exposed to so more there. CBA is also increase in value the consumer, branches and ret banking. I really relate get through to that and understand how application plays a critical role.

CD: How in the world do you relax away get out of work?

LI: I love learning.

Berserk love walking around the scrub of banks. I go hype retail shops and see what’s happening. We travel a parcel and do adventurous holidays. Where I am, I always manifestation at what is happening allege the retail front because as follows much of what happens put back retail can be put progress to other businesses, whether it make ends meet property, banking or entertainment.

Each organisation has customers and I’ll always enjoy thinking about act those customers are being served.