Categories: Leadership, Portfolio Management
By Wanda Curlee
The Internet Corporation for Assigned Names and Numbers (ICANN) oversees the Internet’s system of domain names, which include .com, .edu, .gov and .mil, among others. More broadly, the not-for-profit organization aims to keep the Internet “secure, stable and interoperable,” while promoting competition.
Unfortunately, for several reasons ICANN is in the midst of organizational change. ICANN’s current president and CEO announced in May that he’ll be leaving the organization next March, and the search for a new CEO will start soon. More countries are voicing their desire for free or low-cost Internet access and more domain name categories, while pushing their agendas. The disruptive potential of the Internet of Things is making ICANN leadership think as well.
All this change is driving change within ICANN—and creating a wonderful opportunity for portfolio managers.
ICANN needs to focus on strategic goals, which need to tie back to its charter. A strong portfolio manager should be able to assist the new CEO in pursuing and achieving strategic alignment. The portfolio manager will focus country representatives and those that work within ICANN to ensure that projects and programs meet a strategic need.
The organization may require more than one portfolio manager. There may be one master portfolio with several sub-portfolios focusing on specific strategies or goals. Alternatively, there may be several portfolios reporting straight into the C-suite.
The new CEO and other executives will provide strategic direction, and the portfolio manager should have their ear. While executives resolve strategic issues and travel to give presentations, work with governments and testify before government agencies, the portfolio manager is focused on driving strategic initiatives to the finish line.
The portfolio manager is the person at the helm turning strategic goals into results while making course adjustments when necessary. This is accomplished with a healthy governance structure, an understanding of the industry and environmental factors, and constant communication with the C-suite sponsor and major stakeholders.
I’ve focused on ICANN here, but this scenario is largely true for many organizations operating in the dynamic IT and telecommunications industries. The CEO and other executives' suite collectively serve as the captain, while the portfolio manager provides guidance to maintain a healthy bottom line while still achieving the organization’s strategic objectives.