In our Shaping the Future With… series, we explore the insights of directors who are redefining governance. In this edition, Watson Partner Rachel O’Connor speaks with David Simmonds – an experienced board director and executive – on the evolving role of governance, the weight of stewardship, and why trust is a board’s most valuable currency.

Read on to learn more, including David’s perspective on being a “disruptive” director, and the art that most inspires him.

Rachel O’Connor: David, we like to start every conversation with the same question: how do you define good governance?

David Simmonds: Stewardship. When you serve on a board, the space that you’re provided to observe, ask the right questions, and monitor progress is important. I think about the exercise of stewarding not just financial capital, but also trust, people, and reputation as a significant privilege and responsibility.

ROC: I love that description of board service as a privilege. It can be easy to think about what we’re bringing to the organization and forget about the privilege side of it.

DS: Yeah, and like a lot of privilege, you have to earn and re-earn it.

I think about the exercise of stewarding not just financial capital, but also trust, people, and reputation as a significant privilege and responsibility.

ROC: What does it look like to continue to “re-earn” that privilege?

DS: It’s about integrity. Did you do what you said you were going to do? One of the most powerful ways to lead is to make the complex simple. As a board member, you have the opportunity to cut through noise to focus on whether the organization is delivering what it promised. Are the right products and services being protected? Is the investment paying off? Doing that in a way that reflects the significance of those questions can help you re-earn that trust.

ROC: David, reflecting on your own board career, is there a particular board role that you feel you learned a lot from?

DS: The one that really comes to mind is Western University’s board. Every time I go into that boardroom, I’m reminded of the value that higher education brings to society. Sometimes we underestimate the significance of universities – the intellectual property they create, the properties they steward and develop, the lives and livelihoods they’re often responsible for. I’ve been on the Western board for nearly a decade, and the gravity of that has become very real to me in that time.

It’s also unique in that it’s such a stakeholder-driven board. I sit as one of six appointees, alongside a number of elected members from constituent groups. So we can’t help but acknowledge stakeholder perspectives, while balancing the fiduciary duty we have to the University. That experience has given me a professional toolkit and a perspective that I’ve been able to take into other work environments where the stakeholder reality isn’t as obvious. The experience has also reinforced something I bring to every board: there should be humanity in the boardroom. The decisions we make there are touching people’s lives.

There should be humanity in the boardroom. The decisions we make there are touching people’s lives.

ROC: Do you think boards are evolving to better reflect that impact?

DS: We’re seeing a shift. Historically, boards focused heavily on financial risk and capital allocation. Now, trust and reputation are seen as key enterprise risks – because those are what give us the license to grow the business. Directors are asking: how do we earn trust? How do we measure it? And how do we spend that trust capital wisely? We know that it’s finite. Some industries have had to adapt faster than others – like energy and financial services, where public trust is critical – but this is a growing focus across sectors.

ROC: Are boards developing the governance muscle to oversee these areas effectively?

DS: I’ve seen a lot of positive developments in this space. I’ve been grateful to be a part of organizations that making it a priority, and lucky to work with directors – either as an officer or as a fellow director – who are taking it seriously.

At Rocky Mountaineer, for example, our CEO has made trust a huge priority, internally and externally, embedding it into employee engagement and stakeholder relationships. There’s a board committee where we’re thinking about stakeholders and the communities that the train directly and indirectly affects, including Indigenous communities who have been caretakers of the land.

ROC: David, you’re a sought-after director. How do you decide which boards are the right fit for you?

DS: My first instinct is usually to say no. A mentor once told me: “Only take on a role if you fundamentally believe you can make a differentiated contribution.” It took me a while to be able to do it, but that advice has stuck with me. Now, when I’m approached about a board opportunity, I always ask: Why me? What can I uniquely bring to this board that no one else can? We have a very candid conversation about what I think I can give. And then I revisit that question annually with the board chair – are we getting what we said we needed? If not, maybe it’s time for a change.

Now, when I’m approached about a board opportunity, I always ask: Why me? What can I uniquely bring to this board that no one else can?

ROC: You’ve also mentioned being “disruptive” as a director. What does that look like in practice?

DS: Growing up, my parents told me – affectionately – that I’m always going to be seen as different. And they’ve been right. I think as Jamaican immigrants to Canada with a pretty loud, overly-involved Black kid in schools that were predominantly white, they wanted me to be thoughtful about the way I showed up. And as I’ve moved through my life and become more and more different in many different ways, I’ve learned that aiming to fit in was probably a fool’s errand.

So, as I live my life in an incongruent way, I lead in an incongruent way – hopefully in a way that adds value. I’ll be thoughtful, but I’ll say what’s on my mind – probably bringing somewhat of an outside perspective – and I’ll do it in a way that tries to get to a consensus.

ROC: There’s an incredible power in what you’re describing – if you can find a joy and freedom in being who you are and bringing that difference in a way that has a positive impact. That level of self-awareness must have taken time to develop.

DS: It did. I believe agency is the greatest form of diversity and inclusion, and when we can prioritize individuals acknowledging and exercising their agency, we’ll have high performing teams, organizations, and cultures.

I’ve deliberately chosen to be “inside the system” to create change, and I have friends and colleagues who’ve made deliberate choices to do important work outside of it. Real change happens when we recognize the value of both the insider and the activist, and find ways to integrate those approaches.

I believe agency is the greatest form of diversity and inclusion, and when we can prioritize individuals acknowledging and exercising their agency, we’ll have high performing teams, organizations, and cultures.

ROC: We always like to end on something personal. Can you tell us about a piece of art, or an artist, who inspires you?

DS: I love Kent Monkman’s art, and I think he deserves more praise and focus across Turtle Island. I know that he gets attention now from the canon and in traditional spaces, but I would pray that more people get to experience his art and the stories he tells. There’s a beauty and a brashness to his art. It embodies the tension between advocacy and establishment – it sits inside the traditional art world while simultaneously challenging our awareness and hopefully leaving us with something that we might take action around. That dynamic resonates deeply with me.

ROC: I love that. It brings our conversation full circle – that balance of the insider and the activist.

DS: Exactly. That’s where transformation happens.

David Simmonds is Senior Vice-President, Chief Marketing and Communications Officer, Great-West Lifeco and Canada Life. A member of the Executive Management Committee, David leads a team responsible for global communications, reputation and brand management, marketing, public policy, sustainability, and corporate impact. David also provides strategic partnership and advisory guidance to the CEO’s agenda.

A respected business leader, David brings deep experience to Lifeco from senior roles across consulting, public policy, media, and healthcare, including time as senior vice president at McKesson Corporation. David is a member of Western University’s Board of Governors, a Board Member at Sunnybrook Health Sciences Centre, and a Director at Rocky Mountaineer, a leading North American luxury train operator.

David has been named one of the “Top 100 Black Canadians” by the Diversity Advancement Network, is a recipient of the Black Business and Professional Association’s “Harry Jerome Leadership Award” and has been awarded Western University’s Alumni Award of Merit. In 2024, the Globe and Mail named David one of Canada’s Best Executives, and to Campaign Magazine’s “Power List”.

A graduate of Western University, David holds a BA (Hons.), MA, and completed the executive development program at The Wharton School. David joined the Stratford Festival’s Board of Directors in March 2021 and chairs the Nominating Committee; he also serves on the Advancement and AD Search committees.