What does it really take to lead a board that delivers? In this powerful episode of The Strategy Sessions, host Jeremy Burt sits down with legendary board chair and financial services veteran John "JT" Thomas, whose career spans five decades, 60+ boards, and an unbroken record of never losing a single cent of investors’ money.
From humble servant leadership to high-stakes strategy, JT shares the hard-earned lessons that separate average boards from truly effective ones. We unpack:
The four critical roles of a Chair
How to mentor (without micromanaging) your CEO
The anatomy of a high-performing board meeting
Why AI is a tool—not a decision-maker
How to manage conflict, hold people accountable, and ensure every voice is heard
And what emerging directors must do to earn their seat at the table
With war stories, wisdom, and straight-talking insight, JT gives a rare behind-the-scenes look at how great Chairs shape culture, performance, and governance at the very top.
Whether you're a current director, an aspiring board member, or a leader looking to lift your influence—this is the episode you’ve been waiting for.
🔗 Like, share, and subscribe for more real-world leadership insights from The Strategy Sessions.
Check out this interview with Sean Garvey and delving into the "Hidden Job Market"
This is a must listen if you're thinking of taking on a new challenge in the next six to twelve months and you want some inside tips on how to work with Executive Recruiters effectively.
Listen to:
✅Gain visibility in the hidden leadership market
✅Align with the expectations of top-tier Executive Search firms
✅Position yourself for roles that are not yet public — but highly strategic
✅Navigate the nuances of board-level and C-suite engagement
A great conversation for those thinking beyond the next role — and towards long-term leadership impact.
In this powerful episode of The Strategy Sessions, host Jeremy Birt sits down with Tanya Jackson-Vaughan, one of Australia’s most impactful Social Justice leaders. Tanya shares candid insights from her time leading the Refugee Advice and Casework Service and Dress for Success, as well as her current work coaching social impact organisations.
Together, they explore:
✅What social justice really means today—and why it still matters
✅The role individuals and businesses can play in driving meaningful change
This is a conversation about courage, systems, values, and the power of real leadership. Whether you’re a leader, volunteer, board director, or just curious about doing more, Tanya’s story will leave you motivated and better equipped to lead with purpose.
Join Bernie Brookes AM and me on the latest Strategy Series Podcast where we talk about the evolution of Retail in Australia and Globally....
In this episode of the Strategy Sessions, Bernie takes us through the colourful journey he's had over many decades in the Retail industry, and shares with us his thoughts on who the movers and shakers are now, and what markets are leading the way globally. It's not who you might think!
Come on the RETAIL journey with Bernie to understand more about the:
✅Roots of retail in Australia
✅Development of the retail industry over the last forty years, through to the present day
✅ Future including the importance of omnichannel strategies and the impact that AI will have on the industry.
Jeremy (Host):
Welcome to The Strategy Sessions. This is where we cut through the noise and explore what it really takes to lead, grow, and be successful in business at the highest level.
In this session, we focus on leadership, strategy, boardroom dynamics, and the challenges ahead for boards. We dig into what it really looks like to be a Chair. We’ll look at three important roles of an effective Chair, how to run a decent board meeting, and then finally, take a look into the future and what it holds for Chairs and boards.
I’m your host, Jeremy Burt—leadership coach and mentor to CEOs, emerging leaders, and businesses that are curious to find out what their best really looks like.
Let me introduce today’s guest to help us unpick all of this.
Today, I’m really excited to welcome John “JT” Thomas to the session. JT—John Thomas OAM, KS, SF AICD, FIFS, and JP—is a seasoned financial services executive and board chair with nearly 50 years of experience across banking, mortgage, and property fund management industries.
He’s best known for building the Howard Mortgage Trust into Australia’s largest and top-performing fund of its kind, and for founding the Mariner Mortgage Trust. JT has chaired several commercial and not-for-profit boards, including FC Capital Group, and continues to advise financial institutions through his consultancy.
He’s a trusted figure in governance and regulatory reform, having advised APRA, ASIC, and chaired the FSC Mortgage Fund Working Group. He’s a Fellow of both the AICD and the Institute of Financial Services. JT also coaches CEOs and business owners. He received a Medal of the Order of Australia for distinguished service to business and the community, and a Papal knighthood for his contributions to education, aged care, and church financial management.
And perhaps best of all—his tagline? He’s never lost a single cent of investors’ money in 50 years in finance.
JT, welcome to The Strategy Sessions.
JT (Guest):
Thanks, Jeremy. Good to be here with you.
Jeremy:
Let’s jump in. How would you describe your leadership style, particularly as a Chair?
JT:
It’s a great question. I believe leadership is one of the most misunderstood elements in management. There have been more books written about it than any other topic in the business world. But the one I connect with most is Robert Gottliebsen’s concept of “steward leadership.” It’s about leading by stewarding people.
If you look through history, you’ll find incredible examples of servant leadership—Abraham Lincoln, Nelson Mandela, Mother Teresa. They led by serving others, by being deeply human and committed to those they led.
That’s the style I try to embody. Others can be the judge, but it works well for me.
Jeremy:
So, how do you balance that servant leadership style with the authority a Chair needs?
JT:
There are four main aspects to the Chair’s role.
First, you’re the boss—like it or not. There’s a CEO, but the board is ultimately accountable to shareholders. The Chair holds a position of oversight and authority.
Second, you’re a mentor—especially to the CEO. The CEO is human, and sometimes needs someone to bounce things off in confidence.
Third, you're a confidant. A CEO might face difficulties with a team member or just feel overwhelmed. Having someone to talk to who’s seen it before can be invaluable.
Fourth, you’re a teacher. I’ve had a lot of knocks in my career. Part of leadership is helping others avoid the same pitfalls by sharing the lessons from those experiences.
Jeremy:
And what about CEO autonomy? Is that something you actively encourage?
JT:
Yes, but with caution.
There’s a dangerous myth that boards should stay out of operations entirely. But I’ve seen what happens when a board gives a CEO too much leash—Qantas under Alan Joyce is a recent example. He was bringing in profits, but at great long-term cost. The board failed in its duty to rein him in.
So yes, CEOs need room to lead. But it’s not a blank cheque.
Jeremy:
Where’s the line between proper oversight and micromanagement?
JT:
That was a hard one for me early on.
As Chair, you guide, but you don’t do. You can review a report and offer perspective, but if you’re rewriting it—that’s micromanagement.
The CEO and their team do the “doing.” The board oversees, asks questions, and offers feedback. That’s the line.
Jeremy:
Let’s shift gears. What’s influenced your leadership style most—experience, mentors, formal training?
JT:
I’m a history nut. I’ve read countless biographies of leaders—not just businesspeople. From Abraham Lincoln to Mandela, these people led in impossible circumstances.
Reading about them helped shape my own thinking. Over time, I’ve refined that into a servant leadership style.
Jeremy:
And what if people don’t align with your style? What happens when there’s conflict in the boardroom or with execs?
JT:
Great question. Whether it’s a brand-new board or a seasoned one, relationships matter.
I make it a practice to have a coffee with every director at least twice a year. I ask them how things are going, give them honest feedback, and invite them to give me feedback too. It builds trust.
With CEOs, I typically meet weekly or fortnightly. If there’s friction—between board members or with execs—we deal with it early. Avoidance just breeds dysfunction.
I also do one-on-ones with key C-suite staff every six months. One CEO pushed back once—“they’re my people,” he said. And I said, “yes, but I’m the Chair.” It’s about governance and communication.
Jeremy:
What’s one big lesson you've learned over your career?
JT:
None of us are clones. Everyone brings their own style, and a Chair must let board members be themselves—whether they’re quiet or love the limelight. The key is making sure everyone feels valued and aligned to a shared goal.
Jeremy:
What makes a great board meeting in your view? How do you set expectations as a new Chair?
JT:
I always observe the first meeting before changing anything. Then I introduce my expectations—how I like to chair, how board papers should be structured, how we discuss.
Never had a board push back on that.
Jeremy:
What’s your approach to board papers?
JT:
Board papers must be distributed a full week in advance—non-negotiable. If you get them 3 days out, it’s disrespectful to the process.
If I’m Chair, I expect directors to read the papers thoroughly. I’ll ask the CEO to summarise the key points, and then we open it up for discussion. That way, we stay focused.
Jeremy:
And if someone hasn’t read the papers—pretty obvious, right?
JT:
Oh, absolutely. They scramble, they dodge, they deflect. So I make a point of involving every director. I’ll go around and ask for input—even from the quiet ones.
If there’s division on an issue, I’ll invite views from both sides to ensure balance.
Jeremy:
Have you had to guide executive teams on how to write better reports?
JT:
Yes—many times. I’ve sat on 61 boards over 34 years, and the variation in report quality is staggering. Templates help. Structure helps. And it saves everyone time.
Jeremy:
Let’s talk accountability. How do you enforce follow-up and prevent talkfests?
JT:
Action items are key. I want them closed before the next board meeting—no excuses. If people don’t follow through, I get pretty annoyed. Procrastination kills performance.
Jeremy:
And how do you hold yourself accountable as Chair?
JT:
I ask for feedback—every meeting. On one board, we went around the room and each person shared how the meeting went. It was constructive, honest, sometimes even funny.
I want that feedback. It’s the only way to grow.
Jeremy:
What are your top three responsibilities as Chair?
JT:
Gentle persuasion. Lead with calm authority—not with ego.
Ensure every voice is heard.
Follow up on actions—without it, nothing gets done.
Jeremy:
Let’s talk AI. What’s its place in the boardroom?
JT:
AI is here—and it’s powerful. But it’s a double-edged sword.
Used properly, it can streamline work, like taking minutes. But if board members or execs start relying on it too much—without understanding or critical thinking—that’s dangerous.
It’s a tool, not a decision-maker.
Jeremy:
What about emerging leaders wanting to get onto boards—what advice would you give?
JT:
First, get qualified—do the AICD course.
Second, get experience—join a not-for-profit board. You’ll do more work, but you’ll earn real respect.
Board appointments can be tough to get, especially on commercial boards. But experience in the NFP space is a great stepping stone.
Jeremy:
JT, thank you so much. This has been a fascinating conversation. I’ve really appreciated your openness and insight.
JT:
My pleasure, Jeremy. Thanks for having me.
Jeremy:
And to our listeners—thanks for tuning in to The Strategy Sessions. If you found value in this conversation, please like, share, and subscribe. Keep an eye out for our next episode, where we continue exploring what it takes to lead and succeed at the highest level.