Kim Stratton is Head of International Commercial at Shire, a company working to treat rare diseases. She brings experience within sales, marketing, innovation pipeline management and sustainability to her role as a member of Novozymes’ Board of Directors.
How has working on the board of a Danish listed company been for you?
It’s been about getting to know the business, the leaders, the culture, and the opportunities and issues that the business faces. And about starting to understand how I can add value and contribute to the well-being of Novozymes.
The dynamics and chemistry at board level are not too dissimilar from what I’ve experienced in other companies. Of course, it’s very Danish, but it feels like a global company.
What’s new to me is having the employee representatives serving directly on the Board. It’s healthy for the company’s future, because it’s healthy to hear directly from the employees. Nothing is filtered – I like that.
What was it about Novozymes that made you decide to join the Board?
Novozymes’ strong innovation and sustainability profile really got my attention. As I've become better acquainted with the company, I’ve seen just how much Novozymes has to offer so many customers in various industries.
The impact of small components, such as microorganismsMicroscopic, living, single-celled organisms such as bacteria and fungi. and enzymes,Proteins that act as catalysts, helping to convert one substance into another. is impressive. I firmly believe there are even more opportunities for Novozymes to capture future growth, and for the benefit of not only Novozymes, but also the world.
You have a commercial background, with experience of high-tech, innovation-led organizations. How does this influence your role on the Board?
The biotech industry is both technical and commercial. You have to be out there with the science and the evidence, but also understand the global nature of the business, and understand how innovation will create opportunities.
You also need to understand the commercial and economic aspects and how they impact our business performance. This fits quite well with my position on the Novozymes Board.
Does your work with Shire provide any learnings for Novozymes?
The closest resemblance is in the effect of innovation and how you bring it to both developed and emerging markets. You can’t cut and paste innovation from developed marketsMarkets that have a highly developed economy and advanced technology infrastructure relative to less industrialized markets. North America, Central Western Europe, Australia, New Zealand, Japan and South Korea. Rest of the world is considered as emerging markets. to emerging marketsMarkets that are progressing toward becoming more advanced, usually by means of rapid growth and industrialization. – you have to embed the innovation into the unique dynamics of individual markets.
It’s also about leadership, your understanding of those markets, and how you tailor innovation to the unmet needs in that market.