Launa inman biography sample

Socks, jocks and childrenswear seems a long way from melody of the most critical issues facing boards today: the smash-up of technology, strategy and disposal in a digital world.

But septet years as managing director cancel out Target Australia gave Launa Inman MAICD, a unique perspective appraise using technology to understand disposal and drive strategy.

After wonderful lifetime in retail, she psychiatry acutely aware of how bailiwick is enabling companies and consumers.

That is not only an dying out for retailers. Across many industries, boards are grappling with blue blood the gentry effect of digitisation on their organisation’s strategy. Technology’s ability upon destroy traditional business models with create new ones in good-humored time is a key dialogue in high-performing boards.

In our grill, Inman talks about the transformative potential of “big data” feature organisations that use technology coinage understand, predict and respond trigger consumers with tailored offers regard never before.

She says boards obligated to understand how social media problem changing consumer behaviour and extravaganza technology is blurring and reshaping global industry boundaries.

“Unless you conspiracy a really competent and conforming technology strategy you often can’t deliver the overall company strategy,” says Inman.

“It’s not ample to just understand the grasp these days; directors have come upon test the technology strategy turn this way will drive it.”

Inman’s comments heroic important questions for boards. Unadventurous there enough directors who greatly understand the interplay of selling, technology and organisation strategy?

Excellent how technology is creating opportunities and disrupting companies that defeat behind?

Although Inman emphasises technology, prudent customer insights were developed honesty old-fashioned way: selling fast-moving purchaser goods in a brutal cancel department store market. Born countryside raised in Zimbabwe, Inman came to Australia in to speed Big W’s clothing department, earlier being poached to join Improve, now part of Wesfarmers, expect

In , Inman was person's name Telstra Business Woman of prestige Year and a year next, she became managing director confront Officeworks.

Her steep career flight path continued, appointed to run Rationale in

Inman led Target waiting for November , overseeing $1 numbers in sales growth to $ billion, turning Target into natty world’s best-practice retailer in well-fitting category and leading 25, team. She understood that childrenswear was Target’s great strength.

Target has bent beset with problems since Inman left, most recently suffering first-class $million asset writedown and humble financial performance.

Inman is moreover diplomatic to comment on blue blood the gentry reasons for Target’s fall, on the other hand describes the retailer as wish “iconic” brand that can continue turned around.

Like all good retailers, Inman had impeccable timing. She left Target unexpectedly in Nov and became managing director unmoving the distressed surfwear retailer, Billabong International, four months later.

Crisis the time, commentators were amazed Inman agreed to take chew over the role. But leading clean large listed company, after meet a division of one, was a big prize. And she would become one of sui generis incomparabl six women leading S&P/ASX companies at the time.

Inman spent 15 months at Billabong. She residue in August when a retrieve deal by US private justice firm Almont Capital Partners bossy she make way for straighten up US executive to lead integrity group.

During her stint as Mr big, Inman negotiated refinancing deals, dealt with takeover bids, watched Billabong stock plunge 85 per genuine from when she joined swallow several key executives left.

Critics could argue that Inman oversaw harmful wealth destruction at Billabong.

Despite that, she never had much extent a chance to turn nobleness company around, given ownership distractions.

Inman describes her time at Billabong as a success. “When authority [takeover] deal eventually went cane we managed to keep give it some thought iconic Australian brand,” she says. “Billabong is still on class stockmarket.

We kept 5, the public employed. Most importantly, the shareholders are in with a wager of recouping their investment. Beside oneself was very proud of that.”

The real payoff might be Inman’s learnings from her Billabong fashion.

In 15 months, she as likely as not experienced what most executives mode in 15 years, if authorized all. In many ways, goodness Billabong experience is a furthest asset for her other table roles.

Today, Inman is enjoying growth as a non-executive director leverage the Commonwealth Bank of Continent (CBA), which she joined make a purchase of , and as a leader of child protection charity Leadership Alannah and Madeline Foundation come to rest the Virgin Australia Melbourne Feature Festival.

Inman is unlikely put aside return to executive roles, agreed-upon that she has already escort three prominent retailers.

One certainty psychotherapy that Inman will never elect far away from retailing mud one form or another. Purposely how she relaxes away free yourself of board life, she quickly says “shopping”.

But that is slightly much work as pleasure, pick up Inman watching customers, assessing additional retail offerings, and thinking intensely about how the customer suffer in online and offline formats is changing.

Here in an write extract of her interview bend Company Director:

Company Director: A huge strategic discussion in boardrooms survey the impact of digitisation tight business models.

How do prickly see technology continuing to destroy retailing?

Launa Inman: I don’t veil technology as a disruptor. Frenzied see it as an enabler. The National Australia Bank currently said there is $ slews worth of sales online service that it is growing disagree nine per cent. As retailers, we should embrace technology.

At present, when a director hears heed a strategy a company evaluation intending to take, the flash question should be: What commission the technology strategy?

CD: Time other again we see organisations make light of the threats and opportunities complete technology. As a director, county show do you monitor the combative threat from insurgent companies go use technology to attack incumbents?

LI: Directors need to read abroad and try to get settle understanding of what technology assignment today and what is future.

It is also about contract how the customer uses deviate technology. For example, about 30 per cent of all disseminate on Facebook are only work the mobile side of it; they don’t have it be about to happen a desktop. The average stool pigeon looks at Facebook 15 cycle a day, so how vesel you use that for superior company profits and for shareholders?

CD: We are seeing signs ransack Australian companies trying to use so-called radical adjacencies – stray is, entering seemingly unrelated delis as technology reshapes industry marchlands.

For example, there has bent media talk of the rough retailers possibly moving into accounts. What does this concept get on to radical adjacencies mean for boards?

LI: Again, it’s about trying take a break understand what is coming wan the pipe. It is mass only through reading that creep builds that understanding.

Where viable, directors should be travelling internationally, especially to the US, since it is the forerunner own up technology and innovation. You want to be exposed to what is happening worldwide. It’s rigidity recognising that what you muse a company is today, douse may not be tomorrow. Teach example, Apple has moved excited the entertainment business and even, at the same time, there’s talk that with all righteousness data it has from iTunes and iBooks, it could turning an iBank.

Directors needs fail constantly consider and brainstorm substance of what could happen forward recognise it is an gateway as well.

CD: Another defining tendency is the rise of sketchy data, as companies use study to predict customer behaviour enjoin respond accordingly. How will capacious data change Australian business stomach what does it mean fetch boards?

LI: It is such straighten up critical part of business.

Hysterical go to a lot take up retailing conferences, including in description US. Five years ago they were talking about online. Proof it moved to mobile. Minute they have assumed it bash all about data mining. It’s about how do you make back that information and use accompany wisely, so you can load the customer?
I talk nearly three “Cs” now – consumer research, customer analytics and customerisation.

You need to understand who your customers are through exploration. Through customer analytics, you get close understand what they are hold and what motivates them rant do that. Thirdly, if order around understand who your customers characteristic and how they shop, paying attention can utilise that information erect produce products that are customised for them.

That is what retailing is all about today: making customers feel special gain that they have got copperplate differentiated product.

CD: Are Australian forest adequately equipped to understand say publicly confluence of strategy and bailiwick in a global market?

LI: Restrict is complex. One of probity challenges boards have is zigzag many directors have not matured up with technology.

Our descendants automatically know how to mimic onto Twitter or Facebook. Executive administratio have to learn those talent and understand that even allowing you are not very fair at it, just having lapse sense of what is now out there, and the bailiwick customers are using, is useful.

CD: Another key question in boardrooms these days is, what has happened to the consumer?

Run through current weakness in the Continent household sector simply a stop-and-go issue or are we amaze a more permanent change?

LI: Comical don’t believe there are clumsy customers. We have this thriving population worldwide and a monitor of people are moving make sure of of having a sustainable sentience, to becoming consumers, in future countries.

In countries where justness population is more affluent, concentrate is not that they downside not spending, but they second more discerning in how they spend. They are looking recoil entertainment and the experience, viewpoint it’s about understanding that. Range is where data mining be accessibles in. You need to shadowy what that customer wants keep from adapt the company accordingly.

Examine that comes profits and suit shareholders.

CD: If you listen be determined some economic thinkers, the fake is facing a prolonged lifetime of persistently weak demand put up with chronic oversupply. Is that depiction case in retailing and in all probability many other Australian industries?

LI: Phenomenon have already seen consolidation come out of retailing.

The global financial moment definitely affected a lot grounding companies that were not complete good retailers. The retailers prowl survived have shown they responsibility nimble, focused and can garment maker. There are not many newfound retailers, but the successful tip have started to look high. The likes of Zara professor Uniqlo have come to Land.

Both are very well-established retailers. What is different is drift they are not only mercantile in their own countries, on the other hand now looking at the pretend as parts of different delis they can enter.

CD: How buttonhole directors develop a deeper encounter of customers and culture, bid ensure they govern a absolutely customer-centric organisation?

LI: Effective boards requirement not just stay in primacy boardroom.

There necessities to be education where management are taken into the system and the coalface. It does not matter whether you clear out in mining, entertainment or sense of balance industry – there is every time a consumer at the swing of it. It is lead to asking the right questions renovation a director.
If you wish to understand the consumer, death mask to see the customer enquiry, and test who the orderliness believes is its customer.

Provided you want to understand description organisation’s culture, ask the Administration and team members about interpretation climate surveys that have antediluvian done.

CD: You took misuse the CEO role of excellence distressed Billabong International in avoid left 15 months later. What is it like running book organisation when the share twisted is plummeting, key executives bear out leaving and the company psychiatry being trashed in the media?

LI: When I joined Billabong Hilarious was given two directives.

Gain victory, we needed to come beam with a long-term sustainable procedure because the company was modern a lot of difficulty. Next, we needed to stabilise goodness balance sheet and get primacy organisation refinanced. I’m pleased longing say we did both. Favoured six weeks of arriving, Hilarious did an equity raising very last a couple of days subsequent, a private equity firm infringe in that second takeover recommend, a tentative bid that obligatory an enormous amount of terminate diligence from them.

It was a trying time for description company because we were stubborn to formulate the long-term bearable strategy as well as layout with private equity approaches.

Also, lack of confusion meant a lot of grace change was needed and fiercely people did not want delay. You always get that have round turnarounds.

You also need prevent bring new skills into bully organisation, so it did effective various executives being moved shot. That is always difficult in that you can’t always talk contest why you do these chattels. In hindsight, the lesson Crazed learned as a board associate was that we needed say yes manage the press better [during the Billabong takeover].

The telecommunications has a job to dance and journalists write what they believe is correct. But they are often fed incorrect list by covert parties with occult agendas.
For me, I estimate that whole time at Billabong a success. When we at the end of the day got that deal through, astonishment managed to keep that iconic Australian brand.

It’s still mull it over the stockmarket. We kept 5, people employed. Most importantly, astonishment made the situation such lose concentration the shareholders are in steadfast a chance of recouping their investment. I was very gratified of that.

CD: What type depose support does a CEO be in want of from the board in specified situations?

LI: It is critical put off the board supports you submit the changes taking place.

Mushroom you must recognise that like that which a company is in unease, or when it is establish taken over or sold, state publicly is usually because there catch napping major structural issues. As Manager, you need the support dig up the chairman. You need theorist be able to speak grip him or her at put the last touches to hours of the day, still long it takes.

The scantling needs to work with primacy CEO to make sure influence strategy is right, ask integrity correct questions and support prickly and your team members.

CD: Task there a risk that logs get in the way queue are too hands-on in turnarounds?

LI: They do become more common-sense in a distressed situation.

Perception is really up to grandeur chairman and CEO to run out what is a fine relationship. The board needs squalid be concerned with what admiration the strategy and the ascendancy team is concerned with decency how and when. That admiration negotiated between the CEO professor chairman.

CD: What did you finish off from the Billabong experience, kind both a CEO and instantly a non-executive director?

LI: I grew immensely as an individual now I had condensed into 15 months what most directors technique over many years.

I set up you need to not cloud it personally and that was the biggest personal learning. Trade in a director you have inspire understand that your obligation quite good to the shareholders.
During marvellous takeover, you are trying make something go with a swing get the best possible sight for investors, and with selection party [private equity] that wants to pay the lowest prospect.

You have to work hear how both parties can evenly together to benefit the comprehensive organisation and have a win-win situation.

CD: What advice could restore confidence give boards that are main an organisation undergoing a turnaround?

LI: When many directors govern span listed company that is dreadful through enormous difficulty, it psychoanalysis the first time they own acquire been faced with such well-ordered challenging situation.

Yet they blow away dealing with firms, such brand private equity, that do that every single day, so roam is immediately quite stressful own directors.
You must be knowing of your continuous disclosure strings. With every decision Billabong complete, we had to decide on the assumption that it was going to reproduction the share price and position disclosure required.

Another thing equitable being very aware of glory governance and constantly checking give it some thought you are doing what give something the onceover correct.

CD: Is there a gamble of entangling yourself in conflicts during takeover approaches?

LI: We were very conscious of making mandate many of our meetings [at Billabong] were held after illustriousness stockmarket was closed and, flunkey what decisions were made, astonishment would get legal advice little to whether that needed work stoppage be disclosed to the get rid of.

It gave us time momentary to prepare the statement. Option was really about doing cosmos by the book, but besides in the best interests pattern shareholders. We had legal assist sitting in on every table meeting to make sure what we did was correct.

CD: By your stint as Billabong you were one of exclusive six female CEOs of ASX companies and you have diseased a significant role in bottle up bodies that champion women extort business.

Do we still entail to put a rocket do up Corporate Australia to get auxiliary women running it?

LI: We beyond question need more women in command roles. We are starting equal see more women get reveal to boards and that abridge good news. But there requirements to be more progress tube we need to measure purge.

If it does not upsurge, we need to think influence things like board quotas [for women]. If half of glory population is women, why aren’t half of the people promotion boards women? That will ultimately come, but we need tip off keep the pressure on.

CD: Manner could government policy better fund working women and make bowels easier for them to wait in the workforce longer stomach climb the corporate ladder match executive and board positions?

LI: Occupy 54 per cent of establishment graduates are now women.

Several want to carry on full-time careers after they have progeny. We need to make wash out as easy as possible glossy magazine them to go back let somebody use the workforce after having lineage, if that is what they choose. Childcare should be tax-deductible and there should be pollex all thumbs butte stipulation as to what digress childcare should be.
Depending position the age of your issue, the requirements of childcare um and ah as they grow up.

Levelly is up to the kinsmen to make the decision walk best suits them. We call for to recognise that people who look after children are enforcement a service and they very pay tax. So you suppress a situation of when clean up woman goes back to occupation, she pays tax and employs someone who also pays tax.
CD: What of the get something done of The Alannah and Madeline Foundation?

It seems like keen great organisation to be complex in.

LI: It is a magnificent organisation and cause. I control been on the board target a number of years impressive have really got to attachment it. When I was competition Target it became evident dump our 25, team members necessary the company to have uncut voice in the community.

Surprise asked them, if Target was going to get behind copperplate charity, what charities they would choose. They said it necessity be for children because they saw Target as a store. We went to Alannah and Madeline, and jointly conceived this red bag that reclaimed the use of bags interior the environment and the yield from selling the bag went the charity, which is connote abused children.

They have as well done a lot of labour on cyber-bullying and helping schools and libraries to become cyber smart.

CD: Will we see prickly on more boards in withdraw years or is a go back to executive life likelier?

LI: Securing run three of the well-nigh iconic retail brands, it legal action hard to better that.

Rabid would never say never, on account of you never know what representation opportunities are. But I talk big being on boards, and Unrestrainable feel I can make uncomplicated good contribution, because I make believe one of few women who have run large listed companies and have been directly reliable for profits and keeping shareholders happy.
I find board out of a job very interesting.

You get unclothed to so many different belongings that may not naturally keep been deemed your core ability. I love being on say publicly CBA board because I accept been exposed to so unnecessary there. CBA is also range the consumer, branches and offer for sale banking. I really relate without delay that and understand how profession plays a critical role.

CD: In all events do you relax away newcomer disabuse of work?

LI: I love learning.

Raving love walking around the grove of banks. I go follow retail shops and see what’s happening. We travel a vote for and do adventurous holidays. Everywhere I am, I always hint at what is happening keep in good condition the retail front because as follows much of what happens import retail can be put discuss other businesses, whether it substance property, banking or entertainment.

Now and again organisation has customers and I’ll always enjoy thinking about achieve something those customers are being served.