š Taking the TEA Cup This Week: Standard Charteredās Chair and CEO
For facing the music (Literally) at their 2024 AGM and for modernising tradfi.
š This Weekās TEA Cup Honours: Dr JosĆ© ViƱals and Bill Winters, Standard Chartered
This weekās TEA Cup Honours goes to Standard Charteredās leadership duo Chair Dr JosĆ© ViƱals, who navigated a turbulent 2024 AGM with composure and fairness, and CEO Bill Winters, for championing progress and pioneering initiatives to modernise traditional finance (tradfi).
First up: a special shout-out to Dr ViƱals, who wraps up a nine-year run as Chair this year. We'll continue our kudos to Mr Winters in a follow-up article next week. Full disclosure: I wasnāt originally a fan of Dr ViƱals - and even told him so after the AGM! But read on to find out why he ultimately won me over.
š¶ A Harmonious Protest with Discordant Consequences
On 10 May 2024, Standard Charteredās AGM in London hit a high note - and then a few off-key ones - thanks to the Climate Choir Movement. Around 50 activists burst into a reworked Taylor Swift anthem, āFossil Fuels are Trouble,ā complete with trumpets blaring the Star Wars Imperial March. The protest delayed proceedings by 90 minutes and turned up the security dial to max.
The creativity was undeniable. The prolonged disruption, however, spotlighted the delicate dance between passionate protest and productive dialogue.
š§ Leadership in Real Time
Amid the singing and chaos, Dr ViƱals showed the rare calm of a seasoned, high-EQ Chair. While many shareholders (myself included) grew restless - especially when the extended Q&A left us questionless - Dr ViƱals kept his cool and treated everyone, both online and in the room, with consistent respect.
Despite the onslaught of activist questions, he made time to honour an absent longtime retail shareholder who had recently passed away, and he seemed particularly attuned to ensuring elderly shareholders got their voices heard. (Meanwhile, yours truly, marooned somewhere between Boomers and the activist Gen Zs, was left flapping my hand about like a forgotten cricketer in the outfield.)
š± Walking the Talk with Shareholders
After the AGM, Dr ViƱals and the Board didnāt just vanish into a side exit (looking at you, other companies). They bravely mingled with hundreds of shareholders - activists still in the mix - for post-AGM refreshments.
When I finally ācorneredā Dr ViƱals, I gave him an earful about my missed question, but what stuck with me wasnāt just his patience with my rant, but the genuine way he engaged, especially with longtime individual shareholders.
Having attended many AGMs since - some where boards didnāt even bother to show up in person or just threw their shareholders online (Iām looking at you AstraZeneca and Haleon) - I now see how rare and meaningful that is. Dr ViƱals didnāt just chair a meeting; he led by example, treating all stakeholders like they mattered. Because they do.
āØ In Short:
Leadership is easy when things go smoothly. Itās how you show up when the trumpets blare and the timelines slip that defines you.
So hereās to Dr JosĆ© ViƱals - a Chair who weathered the storm with grace, grew on this sceptical shareholder, and leaves behind not just a legacy of governance, but a quiet standard of respect that many would do well to follow.
Next week: why Bill Winters deserves a TEA Cup too. Stay tuned!