190. Sir Lloyd Dorfman CBE: Why boards need to encourage more persistence and risk - lessons from Travelex and the Royal Ballet and Opera

Sir Lloyd Dorfman CBE is founder of Travelex, the world's largest retailer of foreign exchange. Today, he is Chair of the Royal Ballet and Opera and sits on the Mayor of London's Business Advisory Board and is Chair of Dorfman Media Holdings. Listen to this episode to hear about: How Sir Lloyd talked his way into Heathrow Terminal 4 (01:35) How Travelex outbid the clearing banks for the Heathrow contract (09:06) Why entrepreneurial businesses see opportunities incumbents miss (14:04) Why Sir Lloyd bet Travelex on a £440m acquisition (16:05) The integration lesson from the £440m Thomas Cook acquisition (20:47) The challenge of leading a cultural institution after COVID  (24:32) Why he banned hybrid board meetings (28:17) The mistake nonprofits make about commerciality (31:42) ⚡The Lightning Round⚡(34:34) Host: Oliver Cummings Producer: Will Felton Editor: Penelope Coumau Music: Kate Mac Audio: Nick Kold Email: [email protected] Web: https://www.nurole.com/nurole-podcast-enter-the-boardroom