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Penny Bingham-Hall FAICD recalls the steep learning curve of her first year on an ASX-listed board that was facing a crisis situation.
What surprised you most in your first year on a board?
Quite early in my career, I went on a board as an executive, but the main shock came when I joined an ASX-listed board as a non-executive. What surprised me most was how different it was being on the other side of the table. I’d spent a lot of years attending board meetings and presenting to boards as an executive, but it’s very different when you’re a part-time NED. I thought it would feel normal, and in some ways it did, but it exercises a different part of your brain.
Is there anything you would do differently?
Not much. I made sure I didn’t take on too many new boards at once, which I think was wise, particularly as one of the boards I went on had a near death experience. It was a hectic year, which slowed me down a bit.
I made sure I’d left time in my diary for reading board papers. You can plan to spend all day reading the board papers, but if you try to read papers for eight hours straight, you realise after a few hours that the information is not being retained. Managing my diary to set aside blocks of time to read board papers was something I learned early on.
The only thing I’d change is not going on an ASX-listed company that had a really tough year. I think we had 25 board meetings in that first year, so I was launched straight into a crisis situation. But I learned about the company very quickly.
What was the best advice you got from a mentor?
I didn’t really have a mentor when I had my first board meeting, but I did have a great chair, who advised me, “Don’t feel like you have to ask a lot of questions. It’s your first meeting. It’s a complex business. It’ll take you a while to get up to speed.”
That immediately took the pressure off. It was also a good lesson for the long term, because when you sit and observe boards, you see those who ask the most interesting questions and challenge management usually aren’t the directors who ask the most questions or make the most comments. I’ve seen a lot of new directors turn up to their first meeting obviously keen to impress. But it often has the opposite effect.
How would you describe your growth in that first year?
Exponential. It was a big learning curve. I felt a bit like a bunny in the headlights, because I didn’t know the industry very well and didn’t know anyone on the board. But I felt fortunate to be on a board with very experienced colleagues.
That was one of the reasons I was really excited about joining, because I knew I’d learn a lot. And I certainly did.
This article first appeared as 'My First Board' in the June/July 2026 Issue of Company Director Magazine.
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