Beyond Compliance, Toward Conviction

LEADERSHIP-IN-ACTION CONVERSATIONS

May 8, 2026

More than 60 corporate board directors and leaders from across Singapore’s corporate governance ecosystem gathered for a morning session convened by the Council for Board Diversity (CBD), marking an important milestone in the ongoing journey towards more effective and inclusive boards.

The session saw the official release of CBD’s annual board diversity statistics, covering more than 1,300 organisations across Singapore-listed companies, statutory boards and Institutions of a Public Character (IPC), providing a longitudinal view of board composition and diversity.

But even with the new data confirming deepened diversity gains across organisation, representation alone is not the benchmark for success. The conversation has evolved. The critical question now is how boards can move beyond diversity as representation, towards inclusivity, conviction, and ultimately, impact. This next chapter challenges boards to translate diverse composition into stronger governance, better decision-making, and richer boardroom culture.

To deepen this discussion, insights from the Board Diversity & Inclusion Study 2026, developed in partnership with Egon Zehnder, was presented. Drawing on survey insights from 170 board directors across SGX-listed companies and enriched by in-depth conversations with respected leaders such as Piyush Gupta, Chaly Mah, Chew Gek Khim and Lim Siong Guan, the study examines how diversity is being experienced and operationalised in practice.

Together, the annual statistics and the study offer a comprehensive and practical roadmap for the next stage of progress. They underline a key message: diversity is not an end in itself. Inclusion, while essential, is also not the final destination. The ultimate goal is stronger governance and improved organisational performance.

Inclusion, Expertise, and Performance in Practice

Speaker
Peter Seah
Chairman, DBS Group Holdings, DBS Bank Limited, Singapore Airlines, LaSalle College of the Arts Limited, National Wages Council

Moderator
Ang Wan May
Managing Partner, Egon Zehnder Singapore

A highlight of the morning was a fireside chat with Peter Seah, Chairman of Singapore Airlines and DBS Bank. Drawing from his extensive leadership experience, he shared how intentional leadership shapes the effectiveness of diverse boards. He emphasised the importance of actively drawing out different viewpoints through listening, robust debate, and a culture that encourages constructive challenge.

He also reflected on the often-underestimated dynamics between the Board Chair and CEO – one of the most critical drivers of organisational performance. Strong relationships built on trust, openness, and mutual respect enable more candid dialogue and better decision-making at the highest levels.

Several key themes emerged from the discussion:

The most effective boards demonstrate a balance of respect, rigour, warmth, and accountability – qualities that are complementary rather than contradictory.
Inclusion does not happen by chance; it is intentionally cultivated, with the Chair playing a pivotal role in setting the tone and enabling open, trust-based engagement.
Boardroom culture, shaped by leadership, determines whether diversity translates into meaningful outcomes.

As participants reflected on these insights, one takeaway stood out clearly: The evolution of board diversity requires a shift from compliance-driven action to deeply held conviction. Organisations that embed conviction are harness the full value of diverse perspectives in navigating complexity and driving sustainable performance.