London calling

Enjoying your flexible working? More time in bed, no stress during the home time commute? Well, enjoy it while you can, because not everyone thinks it will last.

The pandemic may have given us a taste for working from home, hanging out in joggers and being on hand for the school run, but CEOs believe it’s bound to change.

The Times reports that KPMG’s annual Outlook survey reveals most CEOs have 2026 pegged as the year by which most people are back in the office five days a week.

Jon Holt, KPMG CEO, tells The Times that most corporate leaders are “keen” to be face to face with workers rather than “on screen”.

That’s not far off; you might want to start those workout routines so those old suits fit. Joggers are not exactly office smart.

Conduct unbecoming

In the wake of Bernard Looney’s departure from oil giant BP last month for failing to disclose a delicate personal relationship, the Financial Times reports that “personal conduct” is a growing risk for companies.

To be fair, leadership behaviour has always been an issue, though society’s judgement about what is good and poor behaviour may change with the times.

But the FT says the departures of CNN Worldwide’s president Jeff Zucker and McDonald’s Steve Easterbrook show that it’s a risk growing in its ability to unnerve boards and investors alike.

The FT cites Olivia Streatfeild, a board director at the publishing house Reach, telling a network event that organisational health and culture “is a thing we need to get stronger on”.

Though Board Agenda would like to point out that, to our reckoning, most leaders posing a “personal conduct” risk tend to be men. So, that’s something to think about.

Learning by numbers

Heidrick & Struggles, headhunter for top companies, has released a guide for first-time CFOs—very helpful if you’re a newbie suffering from imposter syndrome.

Based on interviews with existing CFOs, here are a few tips from the guide:

Remember you are an ally to the board: “provide guidance, explain things, make proposals”, says one former CFO.

Another nugget is building a good relationship with the CEO. As one CFO says: “The CEO has all the authority; you carry half the risk.”

But also remember the other stakeholders. “You can’t only focus on the numbers. It’s important to spend sufficient time on stakeholder management and relationship building,” another CFO veteran says.

Truth is, the accounts are no longer the dominant task for most CFOs. Personal skills may be more useful these days than numbers. Good luck.

On dubious ground

Now, over to corporate scandals—or, at least, a warning about corporate scandals. Dominic Rowles, an analyst with Hargreaves Lansdown, a fund manager, says avoiding corporate scandals is one the “most important” ESG-related priorities for investors.

Of course, history is littered with corporate scandals of all types. Rowles, however, points out that there are some markers of reliable companies and directors, among them: executive pay aligned with investor interest; an independent board; proper accounting, including a transparent approach to tax; a decent auditor and whether investors have “equal voting rights”.

All sound advice, except that the last one—equal voting rights—is controversial, given markets around the world, including London, have been embracing dual class shares. So, market watchers, that’s one to ponder.