At Executive Day 2024, Vodacom CEO Shameel Joosub took attendees through what it takes for successful exco collaboration during an insightful panel discussion.
Shameel was speaking on The CEO Perspective and told the over 100 executives in attendance his secrets to successful exco collaboration.
Here are his top tips on managing the exco in the boardroom:
- People: Surround yourself with the right people, smart and passionate.
- Alignment on targets: Set clear targets that incentivise and drive performance. The targets are driven by the strategy, and there is clear alignment on these between you and your exco and shared targets between exco members.
- Goals: Set individual goals from the big goals set for each exco member. Every employee is incentivised and understands how these targets cascade from the top all the way down;
- Right-size your exco: Do what is right for you as a leader to deliver, change the structure as and when you require.
- Performance management: Be brave and call out non-performers in your exco team and show them the door when necessary, be quick to execute these decisions.
Shameel, who has tripled subscribers, doubled revenue and introduced a successful diversification strategy during his tenure, also had the following advice on dealing with environmental factors:
- Identify top risks, which are top of mind for the organisation .
- Bring them in as part of considerations for future expansions.
- Over-invest to mitigate these external factors, have dedicated teams and people and reorganise departments as necessary.
- Work on how to manage ahead of a crisis and how to manage through a crisis (e.g. Covid).
