Speaking with the Boards 2025
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Mark Christopher Greaves: A Culture of Diversity Amplifies its Rewards
The Chairman of ComfortDelGro shares his perspective on what makes an effective board: Creating space for diverse voices, listening first, and fostering a culture of collaboration.
With operations in 13 countries, a fleet of 54,000 vehicles, 343 kilometres of rail, and 24,500 employees, ComfortDelGro is one of the largest land transport companies in the world. The Group’s purpose statement “Mobility for a better future” reflects a commitment to creating lasting positive impact. “Our purpose statement will guide us as we continue to create long-term value for our stakeholders, shape the future of transportation, and contribute to a more sustainable and connected world,” says its Chairman and Nominating and Remuneration Committee Chair, Mark Christopher Greaves. “To do so, we need a real diversity of opinions in the boardroom. This comes from creating the right environment to get the best talents, from the broadest pool of candidates, to come in and be part of something great.”
A strong advocate of continual learning, Greaves spent the first 25 years of his career with NM Rothschild & Sons, where as CEO of its Singapore operations he served under then Rothschild (Singapore) Chair Dr Goh Keng Swee. He describes the former finance minister and economic architect as a “model chair” from whom he picked up the finer points of leading boardroom deliberations.
ComfortDelGro was a frontrunner in board diversity, particularly in maintaining at least 30% women on board since 2019. How deliberate was it to harness talents from both genders?
Our Chairman Emeritus Mr Lim Jit Poh saw that board gender diversity would become, not necessarily mandated, but normalised, and for very good reason – it makes sense. He was extremely proactive also about age diversity and backgrounds.
Winding the clock back further, it would have been traditionally quite difficult to entice women into our industry. So, the view taken was that diversity outcomes are not from numbers, but from creating an atmosphere where more women and persons of diverse background are comfortable to be considered for a position.
We see a parallel with our sustainability efforts. What started from the boardroom has now permeated throughout the organisation, inspiring a new generation of young professionals passionate about ESG to join ComfortDelGro.
Is it a challenge managing different views in the board room?
I’d say our board directors have very open mindsets, and I encourage different views. Our board composition is diverse by design. We’ve a union representative, as part of our tripartism approach to our business, who brings a constructive workplace point of view. We also have former senior civil servants who have a huge amount of experience in the way government agencies work and think. All that’s equally useful. If somebody has a view, let’s listen to it. As Chair, I listen first and be the last to speak. Of course, sometimes I will need to decide on the direction, “We’re going to do it this way”.
Listening – so, that’s the secret formula to fruitful discussions?
I don’t think there is one. It’s more about creating the right environment to get the best talents, from the biggest, broadest pool of candidates, to come and be part of something great. Even if that means looking among candidates with no prior board experience and then providing the relevant training. People view the world in different ways. What we want is a real diversity of opinions.
On listening – that is something I learnt and observed from Dr Goh Keng Swee who chaired the board when I ran the NM Rothschild & Sons office here. He was a model chair. Always on top of absolutely everything, but he didn’t say very much. He let everybody else talk and then he’d come out with a view, a pearl of wisdom, after taking it all in. He believed that you should have a view, but that you don’t force it on others. I’m greatly honoured to have worked with him for a few years.
What kind of programme does the ComfortDelGro board have for new directors?
Our induction involves visiting and spending time to understand key operations. We have a programme where directors visit our overseas operations on an ad hoc basis to understand specific operations or issues. If there’s a need for corporate governance training, the company secretary will help with that too.
All new directors are invited to join one or two committees. One school of thought is that you’ve got to have a particular skill set to serve on a particular committee, and another that says you’ve got to rotate people around. Because if they don’t know the business inside and out, they haven’t been doing their job.
We also encourage further learning and have sponsored directors to go on courses. The Singapore government got it right in encouraging lifelong learning. I myself did a law degree in 2017, before joining this board though I’m an economist by training.
"It’s more about creating the right environment to get the best talent, from the biggest, broadest pool of candidates, to come and be part of something great. People view the world in different ways. What we want is a real diversity of opinion."
Your annual report makes a note of the board’s relative youth, balanced with collective expertise. That was a rather refreshing observation shared.
We’ve a mix of experienced and new thinking. Our current average board tenure is 4.2 years. It’s because a third of our board is up for re-election every year. That keeps things moving along. It does mean there’s a constant learning process for the board and also a constant interchange of new ideas. That kind of cocktail is to be encouraged to avoid group think and biases.
What’s your advice on authentically communicating company policies and values?
Simply put, it is to be transparent and proactive in the way we engage with our stakeholders and with each other. It should not be just a tick a box exercise. We know people won’t buy it. If you upset the relationship you have with your stakeholders, it takes a long time to rebuild trust.
And your advice to someone about to step into their first board appointment?
Try to approach it with an open mind and a bit of a blank canvas. Because for somebody who’s been in management, as CEO for example, it’s easy to think you have all the answers and that you know how things should be done, but sometimes you need to listen first. It’s extraordinarily eye opening to see how another company does the things that you thought you knew. You immediately start to learn fascinating new things. I’m not suggesting you jettison your own knowledge base. But before bringing it to bear on the organisation, learn about it, find out about it. Go in being a listener, don’t be frightened to speak. It will be a fascinating journey.
This conversation was first published in Speaking with the Boards 2025, an accompaniment to Singapore Board Diversity Review 2025.
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