With a background in the oil and energy sector, aviation, finance, and technology, Helen Fasth Gillstedt has experience few can match. She has built her board career on a unique combination of financial expertise and social engagement – with a particular focus on ESG, corporate governance, and diversity. Today, she sits on the boards of, among others, Sortera, PowerCell, Munters, and Handelsbanken Fonder. Here, she shares her journey to the boardroom, why the chairperson sets the agenda – and why companies play a key role in the climate transition.

You describe your career journey as varied but instructive. How did it all start?
“I was actually a bit of an odd bird – I applied to the Stockholm School of Economics without really knowing what it was. I just wanted to learn how companies work. My first job after SSE was in banking and finance, but life took a different turn when I moved to Norway and was offered a position at Statoil. There, I became the first Swede in the group, which opened many doors.

After a few years at Statoil, my first board assignment came somewhat unexpectedly. I accompanied then Swedish Minister of Industry Per Westerberg on a visit to an oil platform, and shortly thereafter I was contacted by the Ministry of Enterprise to join the board of the Swedish-Norwegian Industrial Fund. That was the beginning.

Following that, I held positions on, among others, the board of neXus Technology ahead of its IPO and the Advisory Board of Save the Children. In the beginning, I said yes to almost everything – I wanted to understand, contribute, and build networks. In 2008, I chose to leave SAS after ten years and focus entirely on board work. It has been a journey with very diverse assignments – which is my strength today: I am broad and used to adapting to different industries, owners, and business phases.”

You have highlighted ESG as a central driver in your career. Why?
“I am convinced that companies play an important role in addressing our societal challenges. ESG – and initially the climate issue – is a natural part of value creation.

For me, it started with a year of studies at the Stockholm Resilience Center, where Johan Rockström was, and courses at KTH, to gain scientific support for complex ESG questions. I wanted to understand in depth. I then applied it in practice on the board of Handelsbanken Fonder, where sustainability was more than a side project – there was a clear vision that financial return and care for the planet’s boundaries can go hand in hand. Today, I actively seek companies where I can contribute to the transformation. ESG is not a compliance requirement – it is a growth area, a strategic business issue, and something that creates long-term shareholder value – if handled correctly.”

What do you see as your main role in the boardroom?
“I want to be a voice that both supports and challenges. I have built a solid foundation in corporate governance, finance, and audit committees – and combine that with insights into sustainability, strategy, and risk. As a board member, you always have a statutory responsibility, but it is equally important to support management and the board as a whole to dare more and always do a little extra to become sharper.”

You sit on many nomination committees. How do you view the issue of board diversity?
“Density of perspectives’ is a phrase I often return to. It’s about ensuring differences in background, experience, and viewpoints – not just gender or age. On paper, a board may look diverse, but if everyone went to SSE, worked at McKinsey, and owns a house in Torekov, there is still a lack of breadth.

I also believe in the 40/60 rule as a concrete mechanism to increase variation. When the threat of quotas emerged, something actually happened – the issue was taken seriously. But the key often lies with the chairperson. If the chairperson does not like being challenged, it doesn’t matter how competent the rest of the board is.”

“I often think about the board of Samhall, which I sat on during Monica Lingegård’s tenure as CEO. It was far from a typical corporate composition – and that’s exactly why the discussions were so strong. Different backgrounds, different perspectives – it created real value.”

How do you view companies’ role in the climate transition?
“I am fully convinced that companies will drive the transformation – but they need political support. We are not just talking about reducing emissions but about transforming the entire societal model into one that respects planetary boundaries: biodiversity, water resources, climate.

It is not an easy path. But if handled correctly, it leads to innovation and resource efficiency, stronger customer relationships, and better attractiveness as an employer. I don’t think there is a way back – it’s only a question of which companies dare to go first and seize the opportunity to create good business.”

What challenges do you see for board work right now?
“It’s a turbulent world. We see a strong VUCA dynamic – volatility, uncertainty, complexity, and ambiguity. Geopolitics, technological paradigm shifts, AI, climate… Everything happens at once, creating high transformation pressure.

This requires board members who are not only competent but have integrity, experience, and well-developed risk thinking. When the world becomes unsettled, values such as diversity and long-term thinking can easily be sidelined. That must not happen.

I sit on the boards of two industrial companies, Munters and PowerCell. The external environment feels very real, and it would have been easy to pull back on some issues, like sustainability. But it is now that we are tested, persevering and holding on to the long-term.”

Do you have experience with Executive Interim Management in your board roles?
“Yes, absolutely. Interim Management is a fantastic tool – especially in transition phases. It is not just about ‘filling a gap’ but bringing in the right person for the right phase.

A good interim leader can give the company energy, momentum, and often a new direction. I have seen what it can do – it is a much more strategic tool than many give it credit for.”

Finally – what do you hope to influence in the coming years?
“I want to continue contributing to companies acting actively and responsibly. What we call ESG today must become the core of business strategy – not a sidetrack. And I want to see more boards with real diversity, strong leadership, and the courage to make uncomfortable but long-term correct decisions. We can no longer afford to just sit still. For the sake of the planet, society, and companies, we need to act – and the board is a very important part of that.”