Podcast Summary: The Corporate Director Podcast

Episode Title: Empowering Female Corporate Leaders
Date: June 11, 2025
Host: Dottie Schindlinger, with co-host Megan Day
Guest: Alicia Surret, Founder of Madam Chair

Overview

This episode explores the journey and impact of female leaders in corporate boardrooms, with a special focus on Alicia Surret and the organization she founded, Madam Chair—a premier network for female board chairs and lead directors of publicly traded companies. The discussion examines best practices in governance, the evolving landscape of board leadership, increasing scrutiny and accountability, and the power of peer networks for women leaders.

Key Discussion Points & Insights

1. Latest Trends in Corporate Board Diversity

• Survey Highlights (00:55–06:13):

  • From the 2024 Corporate Governance and Incentive Design Survey (Meridian Compensation Partners):
    • All 200 surveyed large cap US companies have at least one female board member.
    • 82% have more than 30% female board participation.
    • 97% disclose board-level ethnic diversity statistics.
  • Other trends mentioned:
    • 57% maintain separation between board chair and CEO roles—rising in the US but long mandated in Europe.
    • 77% disclose mandatory retirement age policies for directors (usually set at 72–75).

  “I feel like there has been just a fundamental shift in a lot of governance thinking... this is far more embedded into what we think makes a great board.”
  — Megan Day (02:08)

2. The Madam Chair Network: Origin & Purpose

• Alicia Surret’s Backstory (07:21–09:10):

  • Began in finance and entrepreneurship, then transitioned to board service.
  • Founded Madam Chair after becoming a public board chair and realizing the lack of support networks for female chairs.
  • Personally researched and reached out to all female chairs and lead directors to build the group.

  “I don’t know any other chairs and especially don’t know any female chairs... When I realized that didn’t exist, I thought, well, let me start it.”
  — Alicia Surret (08:22)

• Group Structure and Membership (09:19–10:18):

  • Now over 300 members from diverse industries and geographies.
  • Invitation-only; members increasingly recommend new recruits.
  • Emphasis on confidentiality and candid exchanges.

3. Themes and Activities within Madam Chair

• Confidential Peer Learning (10:30–12:49):

  • Monthly (mostly virtual) events with off-the-record policies for open dialogue.
  • Topics include: activist investing, best practices in board assessments and succession planning, crisis communication, macroeconomic strategy, DEI, and CEO turnover.

  “When this group is connecting, they all become better at their roles because they’re able to exchange that information.”
  — Alicia Surret (13:38)

4. The Unique Benefits of a Chair-Focused Community

• Knowledge Sharing & Support (12:49–14:47):
  • Lack of standardized practices means chairs gain immensely from sharing experiences.
  • The group enables directors to ‘level up’ by learning what works for others.
  • Emotional support and camaraderie are key outcomes.

5. Hallmarks of Excellent Board Chairs

• Qualities Observed Over Four Years (15:19–16:09):

  • Exceptional accomplishment and inspiration from members.
  • Community and mutual support are as valuable as technical insights.

  “These women are just so accomplished... I just love working with the women on so many different fronts.”
  — Alicia Surret (15:21)

6. The Expanding Role and Responsibility of Board Chairs

• Increasing Scrutiny (16:28–17:41):
  • Chairs are seen as “lightning rods” for any perceived board issue.
  • Must lead by example and maintain the focus on CEO succession and board-CEO balance.
  • “The buck stops here” mentality is crucial.

7. Advice for Aspiring Board Chairs

• Practical Steps (17:58–20:22):

  • Take on responsibility early (e.g., lead committees).
  • Master succession planning.
  • Learn from governance failures covered in the news.
  • Assume all actions could become public (“assume transparency”).
  • Be highly proactive about emerging issues.

  “I would always think: what if all of this were to become public? And how can we deal with these issues now so that never becomes an issue for us?”
  — Alicia Surret (19:48)

Notable Quotes & Memorable Moments

• On Accountability (20:36–23:14):

  “Not only are the board directors responsible for more things, they are being held to account with more things... It's a higher level of very personal accountability.”
  — Alicia Surret

• On Chair Networks (13:38):

  “...when this group is connecting, they all become better at their roles.”

• On Director Training (14:47):

  “There’s a lot of training out there about the role of the board... but there’s not as much on how to be a good board chair.”

Important Segments and Timestamps

• 00:55–06:13: Discussion of Meridian Compensation Partners’ survey findings on board diversity, structure, and retirement policies.
• 07:07–09:10: Alicia Surret’s journey and reason for founding Madam Chair.
• 10:30–12:49: Format and topics of Madam Chair meetings.
• 12:49–14:47: Unique value of networks for board chairs.
• 15:19–16:09: Inspiration and community among female chairs.
• 17:58–20:22: Alicia’s advice for those aspiring to board leadership roles.
• 20:36–23:14: Predictions about increased accountability and tech-driven scrutiny for future boards.
• 23:24–24:55: Governance lessons from the article “The Superstar CEO, A Role Beset by Danger.”
• 25:04–25:49: Alicia’s passion project: family and cherishing time with her daughter.

Tone & Language

The conversation is candid, supportive, and practical, reflecting both the challenges and the camaraderie among women corporate leaders. Alicia’s remarks offer insight, humility, and a collaborative spirit, while Dottie and Megan's tone remains welcoming and “governance geek”-friendly.

Conclusion

This episode sheds light on the emerging strength, resilience, and necessity of networks like Madam Chair in empowering female corporate leaders and improving governance. The increasing demands of board service—especially for chairs—make shared learning, peer support, and proactive accountability ever more essential.