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INDEPENDENT THINKING
BETTER GOVERNANCE
At Light Years Agency, we believe that sound governance and precise execution drive organisational success.
Our directors share insights, case studies, and commentary on how boards and executives can strengthen accountability, deliver projects with confidence, and lead through complexity.
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From Forecasting to Foresight; What 2025 Taught Boards About Governing in Uncertainty
If the past year has proven anything, it is that economic forecasting has become an increasingly unreliable guide for decision-making. For boards and executives, 2025 reinforced a hard truth; the challenge is no longer predicting the future but governing effectively amid sustained uncertainty. Geo-economic fragmentation is now the baseline One of the defining features of 2025 has been the acceleration of geo-economic fragmentation. The post-war, rules-based trading system anc
Regulatory Reset or Incremental Relief? What APRA and ASIC’s Latest Moves Mean for Boards
Australia’s regulatory landscape is shifting; not dramatically, but meaningfully. Recent announcements from Australian Prudential Regulation Authority and Australian Securities and Investments Commission signal a recalibration in how regulators are thinking about governance, productivity, and market competitiveness. From a Light Years Agency perspective, these changes matter less for what they remove and more for what they signal; an acknowledgement that governance effectiven
Micro-Governance, Macro Impact; How Chairs and CEOs Build Future-Ready Boards
Much of governance failure does not stem from major decisions made badly; it stems from small issues not surfaced early enough. In our work with boards and executives, Light Years Agency consistently observes that governance effectiveness is built in the spaces between meetings, not just within them. At the centre of this is the cadence of interaction between the chair and the CEO. Governance happens in real time Quarterly meetings are no longer sufficient as the primary gove
The Chair–CEO Relationship Is Not Soft Governance; it's Board Infrastructure
Only one in five directors globally believe their board is future-ready; that statistic alone should trigger concern. Boards are operating in environments defined by regulatory density, stakeholder pressure, and constant disruption. In this context, process alone is no longer sufficient. What increasingly differentiates high-performing boards is not their paperwork, but the quality of leadership dynamics at the top. At Light Years Agency, we see one relationship repeatedly em
The Governance Blind Spot: Part Three: Why Boards Must Look Beyond Today’s CEO Profile
Boards frequently evaluate successors based on current operational conditions rather than future strategic horizons. AICD, PwC and other global governance advisory firms consistently warn that this short-term approach undermines organisational resilience. Boards must anticipate what the organisation will require from its CEO in five to ten years and design succession structures accordingly. The following case examples demonstrate the risks of focusing on the present instead o
The Governance Blind Spot: Part Two: How Boards Should Structure and Oversee CEO Succession
Building a Future-Ready Pipeline Succession planning begins with emergency readiness but must evolve into an integrated board process spanning talent mapping, development, exposure, and capability assessment. Australian boards often understand the principle but fail to apply systematic governance structures. AICD, Korn Ferry and PwC all reinforce that boards must treat succession as a continuous cycle, not a periodic project triggered by resignation. This requires visibility,
The Governance Blind Spot: Part One: Why CEO Succession Remains Boards’ Weakest Capability
CEO succession remains one of the most consistently weak governance capabilities across Australian and global boards, despite being among the highest-impact decisions a board will ever make. The Australian Institute of Company Directors has repeatedly warned that inadequate CEO succession planning exposes organisations to unnecessary risk, particularly during periods of disruption or crisis Its research highlights a persistent “succession gap”; boards acknowledge the importa
Governance Priorities for Australian Businesses in 2026
Australia enters 2026 with a governance environment that is more regulated, more transparent, and more demanding of organisational maturity than any period in the past decade. Boards and executives are under pressure to demonstrate competence, accountability, and resilience across financial, operational, and ESG dimensions. For businesses seeking stability and scale, this year will require disciplined operating models, strengthened compliance frameworks, and a clear understan
Professional Development as a Governance and Operational Risk
Member loyalty across the association sector in Australia remains strong as overall average renewal rates stay high. From a board perspective, this can appear reassuring. It should not, however, be taken as long-term security. Recent findings from Momentive Software’s Bridging the Gap study point to a persistent governance risk: a misalignment between member expectations and organisational priorities. Nearly half of members rate career advancement and job opportunities as ve
Surveillance, Privacy, and Governance: The New Operating Reality for Australian Workplaces
Light Years Agency Perspective Workplace and retail surveillance is undergoing a structural shift. Facial recognition in stores, AI-driven monitoring on laptops, automated performance analytics; these tools are no longer hypothetical. They are here, widely deployed, and increasingly scrutinised. For boards, executives, and governance professionals, the message is blunt: surveillance strategy is governance strategy, and the regulatory bar is rising fast. This briefing distils
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