Born and raised in Zimbabwe, Launa Inman has retail in her blood. She has led two of Australia’s most recognisable and beloved retail brands: Target and Billabong.
Hounded by the media during Billabong’s darkest days, Launa helped steer the company to financial recovery and remains one of only a handful of women to have led an S&P/ASX 200 Company.
A chance meeting and some sound advice started Launa’s CEO streak. Launa’s example shows why women should always be game to ask, whether it’s for the pay-rise, the promotion or any other aspect of their development. Now directing her expertise into full-time board work — including with the Commonwealth Bank, Bellamy’s, and The Alannah and Madeline Foundation — Launa brings decades of retail experience, strategic acumen and customer focus to a variety of industries, including banking and fashion.
In this edited extract from Gillian Fox’s Woman of Influence, Launa shares how she managed some of the scrutiny in her role at Billabong, how she handled the media, and the qualities she believes young women need for climbing the leadership ladder.
Billabong is an iconic Australian surfing brand; what do you think young female leaders can learn from your commitment to saving it?
At the time, it was probably my greatest moment: keeping Billabong on the stock market, 5,000 people employed, and giving the shareholders an opportunity to help get back some of their investment. It was a very emotional time, but we did it.
There were negative media reports at the time – how can emerging female leaders better manage persistent public scrutiny, particularly when it’s gender led?
I did find the scrutiny challenging. There was this fascination in the media that a woman was running a surfing brand from the very beginning. There was also a belief that it was impossible for someone who didn’t surf to run the organisation, which was nonsense.
I said to one reporter, “You’re not asking the gentlemen running various department stores whether they wear dresses or perfume, and yet most of their customers are women.”
And yet you and the company ultimately prevailed, so do you have any thoughts on how other women might approach the media in a similar situation?
You really have to manage your stakeholders. If you don’t speak to the media, they will write what they have to. They have papers to fill. They have columns to fill. If you’re not going to talk to them, someone else will. Even if you do talk to them, there’s no guarantee that they’re going to put forward your views, but at least you’re in with a chance.
I’d try to be more open if I had my time again. It’s a difficult game with the media. It’s very, very hard. You have to be very conscious of your obligations of continuous disclosure and you tread a very fine line.
I had to keep saying to myself. “They have a job to do. They’ve got to fill a newspaper. They’ve got to fill a column. I’ve got a job to do and that’s get the business right.”
How do you maintain focus?
Initially it did affect me when I picked up the newspaper, but I was so embroiled in trying to get through each day. Everyday things were changing and there was another challenge to deal with – that in the end I got through it. When you’re in it, you just keep going; there’s no alternative.
If anything my family found it more stressful. My husband would pick up the newspaper every day and see some comment or innuendo. My children were seeing it, and they were getting kind of outraged for me.
What would you say to younger women currently working their way up the ladder who have smaller children at home?
You can have it all, but there’s always trade-offs. I’ve always been a working mum. I didn’t always get to every school function, but fortunately if I didn’t, my husband did.
Was I always the perfect mother? No, I wasn’t, but my children had the benefits of my working that they would not have had otherwise. It’s a trade-off. You’ve just got to work it out as you go along. Some years it’s better than others, don’t beat yourself up with guilt.
What qualities do you think will help take emerging female leaders to the next level?
A good leader today has to have a number of attributes. One is that they need to have a manageable ego. I really believe that. The good leaders today are relatively humble and measured. They’re not the big personalities that they used to be.
I think the world has changed.
They have to have that common touch – and that’s related to ego as well. If you’re in a retail operation, those leaders are happy to walk the floors and see what the people are dealing with, and what customers are going through.
Leaders really do have to be smart, and able to clearly articulate a vision of what they want from this organisation – and delegate, because you can’t do it all. You
have to get people to follow you by constantly repeating that vision.
It’s got to be 2 or 3 messages and you have to keep going over them again.
I think if you have those 3 qualities to start with, you can learn to be a good leader.
What can younger women learn from those areas in which your networking activities were under-developed?
When I moved into full-time board roles, I recognised that my network was in some ways limited. I had been so caught up working all the time that I tended to turn down a lot of events where I would meet other co-directors or chairmen. I would go to business functions where I would meet my retail contemporaries, but I wasn’t broadening my horizons enough.
Start thinking of the future while you’re in your present job. Get out there, go to these functions, meet people and make an effort, because one day you won’t be in that role. Most people would have taken a phone I went on to not-for-profit boards and I’m really glad I did that. Most companies today are very obliging; they allow you to do something philanthropic. I really recommend that. Just choose one cause you’re passionate about. It’s good for you to grow as an individual and see another side of life, but also to meet different people who are not in your industry.
What advice would you give to emerging female leaders who don’t yet have that MD title?
The lesson is you can use your working title and position to benefit the company, but also benefit yourself by meeting other people. You’ve got to be careful however, that you’re not seen to be out there only trying to promote yourself, because that can be annoying to your bosses and co- workers.
Nothing is more disconcerting than someone who’s all about their own well-being and what’s in it for them, as opposed to what’s in it for the organisation. You do have to manage it carefully.
You have to decide what’s relevant to you. But you need to go out there, consciously try and work the room and talk to people. Then you need to follow up with them. If they’ve been promoted, you could send a text congratulating them.
Women’s Agenda readers can download an exclusive preview of Woman of Influence ahead of the official launch of the book on May 17, 2016. To download your exclusive preview, simply visit here.