3-2-1 from NIRI ’25 Conf. – Affirming IR’s Value, Integrating Investor Insights, and What’s Next for ESG
Just wrapped up a few days at the NIRI 2025 Annual Conference in Boston.
Here are 3 standout sessions, 2 sharp stats, and 1 quote we’re still thinking about, all heard on stage or in conversations with peers and panelists.
Whether you attended or missed it, we hope this gives you a quick pulse on what’s top of mind in IR right now.
We’ll dive deeper into some of these themes in upcoming newsletters. But for now, here’s the meatiest of what we heard:
3 Sessions That Delivered the Goods
Session 1
Roger Ferguson on the Promise of Capitalism: Past, Present, and a Brighter Future
Why it stood out:
Roger Ferguson (former Vice Chair of the Federal Reserve and former CEO of TIAA, a Fortune 100 financial services firm) made a strong case for the enduring role of public companies.
Takeaways:
Despite shrinking public markets, Ferguson believes public companies remain essential. They keep businesses accountable and offer one of the best mechanisms for raising capital.
And in that system, IROs are key. His guidance for IROs:
Be the face of the company. Engage shareholders directly and constructively.
Talk to the media. Shape and lead the external narrative.
Equip analysts. Provide the right metrics and a clear strategy.
Segment your shareholders. Know who to prioritize and tailor your message accordingly.
Even if some of this sounds like “back to basics,” hearing it from Roger felt validating and encouraging for the IR profession.
Session 2:
Perception to Reality: Involving the Investor Perspective in Corporate Strategic Planning
Why it stood out:
Led by Mark Hayes (IR thought leader and partner at Breakwater Strategy), this session reinforced that investor feedback isn’t just helpful. It can and should influence high-stakes decision-making.
Takeaways:
Investor perception isn’t just about surveys. It’s built through ongoing conversations…with analysts, top holders, Q&A, perception studies, and more.
Panelists like Mark Macaluso (ITT) shared how insights from his top investors (nothing fancy, just talk to them consistently) inform real decisions, including M&A, capital allocation, executive compensation, and even CEO retention.
IROs Debbie Hancock (Lamb Weston) and Amy Wakeham (Solventum) made the case that strong IROs don’t stop at collecting feedback. They interpret it, filter out the noise, and bring meaningful insights to strategy discussions. And they do it with a clear, confident point of view. When internal leaders ask, “What will investors think about this divestiture or capex plan?”, IROs should already have an answer.
Everyone knows IROs communicate outward. There is incremental value when they bring investor insight inward and shape business decisions. That’s how IR earns its seat at the table and helps drive long-term value.
Session 3:
Various Sessions covering ESG
Why these stood out:
With all the headlines lately, it felt like ESG was losing relevance. But these sessions made it clear – while the label may be under pressure, the work behind it still matters.
Takeaways:
ESG as a term may be under pressure, and some companies are quietly dropping “ESG” and “DEI” from their messaging. But the work behind those terms isn’t going away.
Speakers from fantastic and well-respected companies emphasized this: environmental responsibility, inclusion, and community impact are still core to their strategies.
So call it what fits, e.g., sustainability, business resilience, inclusion, risk management…the point is, if it aligns with your business goals, it still matters. What’s changing is the language, not the substance.
2 Stats That Made Me Pause
Stat 1:
In a live poll (n=97) in one of the sessions, 41% of attendees (mostly IR practitioners) said companies attract activist investors not because they’re poorly run, but because they’re poor communicators.
Stat 2:
According to Corbin Advisors, 8 in 10 investors say an Investor Day has prompted them to increase or initiate a position.
1 Quote That’s Sticking With Us
“Just start.”
~ Amy Wakeham, IRO, Solventum
When asked how companies should begin incorporating investor perception into strategic planning, Amy offered practical advice. You don’t need a formal program to begin. Start small. Learn. Iterate. You’ll build it as you go.
Bonus: IR Resources Worth a Look
I. Hallmarks of Best-in-Class Investor Days, a White Paper from Corbin
Trends in format, cadence, and what actually matters to investors. Includes planning tips from both hosts and attendees.
II. Investor Day that Sticks: Story & Experiences that Shape Perception
Presented by OUTKREATE. This includes practical tips on building a clear narrative and using “experiential moments” to make your Investor Day stick.
We’ll dive deeper into some of these topics, and a few others, in the coming weeks. There’s lots more to share. Stay tuned.
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