Maria Pakozdi recently joined Descartes Systems Group as senior corporate counsel, leading the company’s corporate legal function. Her role addresses critical corporate governance, compliance, and legal operations challenges. With a background in securities law and regulatory compliance, her role at Descartes – a global leader in logistics technology – touches on diverse issues, from managing multijurisdictional compliance to advising on M&A transactions. Pakozdi spoke to Lexpert about the nuances of navigating governance on a global scale, balancing innovation with risk, and aligning legal frameworks with business strategy.
From big law to in-house
Pakozdi articled at Gowling WLG and then joined McMillan LLP as an associate, focussing on public company work and securities. She then joined the Royal Bank of Canada (RBC), where her career shifted towards operational and compliance-driven legal work.
“When I moved in-house at RBC right before COVID, I started working in the corporate secretariat office,” she recalls. “COVID shook the board… we needed to help the board… assess risks before it became problematic.” The crisis, she says, underscored the importance of dynamic and proactive governance.
Her later roles, such as building a compliance function from scratch at a venture capital firm, added breadth to her expertise. “I knew that if an opportunity at a public company came up, I would jump at it to oversee a larger operation,” Pakozdi says.
A dynamic role at Descartes
At Descartes, Pakozdi’s responsibilities span securities disclosures, investor relations, and overseeing the legal intricacies of the company’s M&A activities. “Descartes is very active in the M&A space. There were five acquisitions this year,” she notes, emphasizing the importance of meticulous due diligence and regulatory approvals in these transactions.
Her approach to governance reflects the complexity of leading a global organization. “Governance must be proactive in a dynamic way,” she explains. For Descartes, this involves addressing domestic issues and those arising in its European and Asian operations. “The role of legal counsel is to… advise the board on a wider scope, whether these are political or regulatory issues.”
Tackling multijurisdictional compliance
In a business operating across multiple jurisdictions, legal consistency is critical. Pakozdi champions the use of technology and standardized contracts to streamline compliance. “We’ve implemented contract templates, so no matter if you’re in Africa or Europe, this is our position,” she says, explaining that uniformity in regulatory clauses helps reduce risks and ensures operational alignment.
However, external counsel also play a pivotal role, and Pakozdi relies on law firms to get it right the first time. “Where external counsel fails is where they don’t have the expertise, and they’re learning with you,” she warns. For a company like Descartes, she emphasizes the need for reliable local expertise to navigate unfamiliar legal landscapes.
Balancing innovation with risk
As Descartes continues to expand its SaaS offerings, the balance between fostering innovation and managing risk is a key concern. Pakozdi describes innovation as inherently risky but insists it must be pursued with clear contingency plans. “The question is not whether we take risks but how we take risks in a measured way,” she says.
For her, defining risk tolerance and the ability to pivot when needed are essential. “You need to adapt and abandon things if things go wrong,” she says. This approach ensures that while the company invests in cutting-edge technologies, it remains resilient in facing challenges.
Looking forward
Pakozdi’s experience across various organizations has equipped her to navigate the complexities of a global legal role. “Every organization I’ve worked for has taught me something new,” she reflects. She applies these lessons at Descartes to align the company’s legal strategy with its broader business objectives.
Her pragmatic approach to governance, compliance, and innovation reflects the evolving role of in-house counsel in a fast-paced business environment. By anticipating risks and fostering proactive governance, Pakozdi ensures that Descartes remains a leader in the logistics technology space.