James Muldowney

What, in your view, makes for good strategy formulation at board level?

Good strategy is about making choices and then executing on them. I’ve seen it work best when strategic discussions are framed around ‘yes/no’ questions, with implementation focused on financial and people resources, risk management and milestones to measure success. Of course, you need clear analysis too. This helps create focused, engaging, and constructive discussions at boards.

Can you tell us about your career path and the common themes that run through it?

My career has spanned consulting, aviation, drinks, utilities, and industrial sectors. Now, through my firm North Shore Advisors, I work with clients on strategy, growth, transformation, and sustainability. Throughout, the common thread has been strategy, growth, and value creation, often in branded environments, along with gaining M&A, IPO and restructuring experience.

Did you always plan to go into this area?

Not at all. After my BComm and Diploma in Accounting at UCD, I was set for a career in chartered accountancy. But a summer in London changed everything. I realised there were other career paths, so I worked for a bank and a medical software start-up before going to Harvard to do an MBA.

What were the biggest lessons you took from McKinsey and GE?

At McKinsey, I had the chance to work on important strategic issues for major clients, alongside people at the top of their game. It gave me big responsibilities early, and I was part of the team that set up the Dublin office. Later, at GE in the US during Jack Welch’s era, the culture was all about execution, growth and ambition, and was very different from McKinsey’s focus on strategy and options. I learned hugely from both.

What came next?

I joined C&C as strategy director, where I became an executive director on the PLC board following our IPO. Then with Irelandia, I helped start up low-cost airlines in Mexico and Colombia - a very dynamic and exciting business. Returning to Ireland in 2014, I joined Ervia as strategy and corporate services director, helping to establish it as a multi-utility company comprising Gas Networks Ireland and Irish Water.

Tell us about your current work with North Shore Advisors.

I now focus exclusively on strategy, value creation and growth. Clients bring industry and company knowledge, while I bring outside thinking, frameworks and project management, it’s a good combination. We work as a team, and I still use many of the McKinsey principles I learned early in my career.

How does IoD Ireland support your work as a director?

The IoD community mirrors the collaborative ethos I value – open discussion, constructive challenge, and a focus on solutions. I also find its events and explainers very valuable. Even with my experience, the governance code sessions and events series help me stay current on best practice.

Looking ahead, what are your ambitions and views on the big issues facing boards?

I’d like to take on more non-executive director roles, particularly with medium-sized companies going through IPO, expansion or leadership change. M&A can play a role in growth strategies, but only with a strong strategic rationale and careful integration. Transformation must stay simple and focused, avoiding bureaucracy. And then there’s AI – it’s going to change things as much as the Internet did, and faster than people expect. Boards need to be open, agile and ready to explore its impact.

Finally, why did you join IoD Ireland

It’s a great network where I meet interesting, like-minded people. It keeps me current, provides valuable insights, and reinforces governance essentials – something every director, no matter how experienced, can benefit from.