“We do business, not politics.”

Until very recently, this was the dominant reaction in boardrooms when geopolitical or political topics surfaced. Only a few years ago, such issues were considered external noise – interesting perhaps, but clearly outside the scope of governance.

That position is no longer tenable.

Trade conflicts, sanctions, elections, industrial policy, technological sovereignty, war, and macroeconomic fragmentation now directly affect strategy, cash flows, risk exposure, talent, and long-term value creation. As a result, geopolitics has entered the board agenda – not by choice, but by necessity.

This fireside chat examines how geopolitics found its way into the boardroom, why it has become such a challenging topic for boards, and what “enough” looks like at board level.

From a board leadership and governance perspective, Prof. Georg Guttmann will describe how boards have experienced this shift in practice: the initial resistance, the uncertainty, and the experimentation now underway. He will explore how boards are testing different responses – bringing in external experts, rethinking board composition, recruiting different director profiles – and why none of these solutions is straightforward. Central to his contribution is a critical question many executives are asking today: What do I actually need to know at board level?

From a geopolitical and macroeconomic perspective, Prof. Rudy Aernoudt will make the economic shortcut boards care about most: how geopolitics translates into cash flows, scenarios, and measurable impact. He will explain why geopolitics is not merely a political discussion but a structural board issue, how it affects financial outcomes, and whether it can – or should – be captured through indicators, scenarios, or KPIs. Why geopolitics matter?

The conversation between the speakers will tackle the kinds of questions currently debated in boardrooms, including:

• Is geopolitics a temporary shock or a permanent feature of governance?
• What macroeconomic and trade scenarios should European companies prepare for?
• How should boards deal with uncertainty they cannot model or control?
• Can geopolitics be governed – or only monitored?

Designed as an unscripted, interactive fireside chat, this session prioritises dialogue over presentations and invites participants into the conversation. It is aimed at senior executives and professionals preparing for board roles who want to understand not everything about geopolitics – but what truly belongs on the board’s radar, not only today but tomorrow.

Speakers:

Prof. Georg Guttmann

• Director of Board Programmes (ES-HSG) & Assistant Professor of International Corporate Governance at University of St.Gallen
• Director of Board Programmes at the Executive School where he leads a portfolio of research and practice initiatives aimed at executive committees and boards of directors of large European companies.
• His research focus lies in the area of strategic leadership and corporate governance.
• He obtained his doctorate in strategy and management from University of St. Gallen with highest distinction and was a Visiting Scholar at Singapore Management University.
• A lecturer for international corporate governance and big data analytics.

Prof. Rudy Aernoudt

• Professor of Corporate Finance at Ghent University and Affiliate Professor at BMI Executive Institute (Vilnius and Brussels).
• Co-founder of the European Business Angels Network (EBAN), founder of FREE, co-founder of the Growth Academy for Enterprises, and Senator at the World Business Angels Forum (WBAF).
• Extensive international experience in corporate finance and European economic policy, including roles at MIT, OECD, the European Commission, and the European Council.
• Former Secretary-General for Economy, Science and Innovation in the Belgian government and former Chief Economist at the European Commission.
• Columnist and prolific author of 35+ books and 300+ publications on corporate finance, politics, and economics; recipient of multiple international awards.

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