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CORPORATE
GOVERNANCE
Board of Directors
Role of the Board
Board Structures
   1. All Executive Board
   2. Majority Executive Board
   3. Majority Outside Board
   4. Two-tier Board
         (i) Supervisory Board
         (ii) Management or Executive Board
Responsibilities of the Board

1. Determination of Board functions.
2. Setting the values, mission and vision.
3. Preparing strategic plan, operating plan
   and budget.
4. Ensuring adequate resources.
5. Monitoring progress towards achieving
   the agreed objectives.
Responsibilities of the Board

6. Preparation of a work plan.
7. Mentoring, monitoring and evaluating
   the Chief Executive.
8. Ensuring compliance and disclosure.
9. Communicating with stakeholders.
The Role of Directors
 A. The Performance Role
    1.Contributing know-how, expertise and
      information about the external
      environment.
    2.Representing the Company and
      networking.
 B. The Conformance Role
    1. Judging.
    2. Questioning the board’s assumptions.
    3. Surpervising Executive management.
C. The Watchdog Role

D. The Role of a Confidante
The Responsibilities (Liabilities) of Directors

 1.Responsibilities to shareholder.
 2.Duty to act honestly.
 3.Duty not to make secret profits.
 4.Duty to exercise reasonable care, diligence
   and skill in their work in the board.
 5.Selection and monitoring of key
   executives.
 6.Review of remuneration.
7. Ensuring a formal and transparent board
    nomination process.
8. Monitoring and managing potential
    conflicts of interests.
9. Monitoring the effectiveness of
    corporate governance practices.
10. Ensuring the integrity of company’s
    accounting and financial reporting
    system.
11. Putting in place appropriate control
    systems.
Board Objectives

 1.Business objectives.
 2.Market Related objectives.
 3.Financial objectives.
 4.Technical objectives.
 5.Compliance objectives.
 6.Social Responsibility.
 7.Environmental objectives.
Types of Directors

  1.Executive Directors.
  2.Non-Executive Directors.
  3.Nominee Directors.
  4.Representative Directors.
  5.Associate Director.
Non-Executive Directors – Their Role

 1.Infusion of external perspective.
 2.Role in the formation of company strategy.
 3.Succession Planning
 4.Takeovers and Mergers.
 5.Monitoring.
 6.Board Meetings.
 7.Counselor to the Chairman.
 8.Strengthening of Accountability of
   Management to Shareholders.
Nominee Directors - Induction

 1.Under the provisions of Term Loans.
 2.Investments in shares of Private
   Companies.
 3.Large shareholdings by investment
   institutions.
 4.Underwriting developments.

Role of Nominee Director
Structure and Composition of Boards

 A.Structure – How to Balance?

   1.Representation of Core Management
     Group.
   2.Representation      of    Independent
     Elements.
   3.Majority Representation.
   4.Nominees Representation.
   5.Professional Representation.
B.Composition

 1.Skills
 2.Experience
 3.Age
What makes Effective Boards

 1.Existence of Board as a Team.
 2.Guarding against the breaking of the
   team bond.
 3.Creation of a climate of trust.
 4.Foster a culture of open Dissent.
 5.Allow role switches.
 6.Ensure Individual Accountability.
Independent Directors – Meaning

How to strengthen them?

 1.Appointment.
 2.Remuneration.
 3.Human Resources.
 4.Other areas.
 5.Periodic review.
 6.Liability insurance.
 7.Training of Independent Directors.
8.Disclosure by independent directors.
9.Separate meeting of independent
  directors.
10.Designation of one or more as lead
   independent directors.
11.Substantial shareholding.
Board Leadership

 -Barriers to Effective Board Leadership.
  1.Time Management.
  2.Resistance to risk taking.
  3.Strategic planning.
  4.Complexity.
  5.Micro Management.
  6.Clinging to tradition.
  7.Confused Roles.
  8.Past habit.
The Board Chairman and the CEO
Board Chairman – Concept and Role
Qualities of Chairman
 1.Conceptualiser.
 2.Character.
 3.Sound Health.
 4.Aloofness.
 5.Listening to criticism.
 6.Own critic and judge.
 7.Risk taker.
Functions of the Chairman
 1.Management Function.
 2.Approval Function.
 3.Leadership Function.
 4.Consultative Function.
 5.Spokesperson.
 6.Initiative Function.
 7.Special Invitees.
 8.Planning and Running of Meetings.
 9.Drafting of Minutes.
The CEO and His Role
 1. Periodical review of systems and
    procedures.
 2.Consultation with Chairman.
 3.Relations with NEDs.
 4.Talent recognition.
 5.Make available for performance review.
Relationship between Chairman and
 CEO
 1.Complementing the CEO.
 2.Directing the CEO.
 3.Consulting and Coaching the CEO.
 4.Reviewing and controlling.
 5.Restricting the power of the CEO.


Separation of Positions   of   Board
 Chairman and the CEO.

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Corporate governance 1

  • 2. Board of Directors Role of the Board Board Structures 1. All Executive Board 2. Majority Executive Board 3. Majority Outside Board 4. Two-tier Board (i) Supervisory Board (ii) Management or Executive Board
  • 3. Responsibilities of the Board 1. Determination of Board functions. 2. Setting the values, mission and vision. 3. Preparing strategic plan, operating plan and budget. 4. Ensuring adequate resources. 5. Monitoring progress towards achieving the agreed objectives.
  • 4. Responsibilities of the Board 6. Preparation of a work plan. 7. Mentoring, monitoring and evaluating the Chief Executive. 8. Ensuring compliance and disclosure. 9. Communicating with stakeholders.
  • 5. The Role of Directors A. The Performance Role 1.Contributing know-how, expertise and information about the external environment. 2.Representing the Company and networking. B. The Conformance Role 1. Judging. 2. Questioning the board’s assumptions. 3. Surpervising Executive management.
  • 6. C. The Watchdog Role D. The Role of a Confidante
  • 7. The Responsibilities (Liabilities) of Directors 1.Responsibilities to shareholder. 2.Duty to act honestly. 3.Duty not to make secret profits. 4.Duty to exercise reasonable care, diligence and skill in their work in the board. 5.Selection and monitoring of key executives. 6.Review of remuneration.
  • 8. 7. Ensuring a formal and transparent board nomination process. 8. Monitoring and managing potential conflicts of interests. 9. Monitoring the effectiveness of corporate governance practices. 10. Ensuring the integrity of company’s accounting and financial reporting system. 11. Putting in place appropriate control systems.
  • 9. Board Objectives 1.Business objectives. 2.Market Related objectives. 3.Financial objectives. 4.Technical objectives. 5.Compliance objectives. 6.Social Responsibility. 7.Environmental objectives.
  • 10. Types of Directors 1.Executive Directors. 2.Non-Executive Directors. 3.Nominee Directors. 4.Representative Directors. 5.Associate Director.
  • 11. Non-Executive Directors – Their Role 1.Infusion of external perspective. 2.Role in the formation of company strategy. 3.Succession Planning 4.Takeovers and Mergers. 5.Monitoring. 6.Board Meetings. 7.Counselor to the Chairman. 8.Strengthening of Accountability of Management to Shareholders.
  • 12. Nominee Directors - Induction 1.Under the provisions of Term Loans. 2.Investments in shares of Private Companies. 3.Large shareholdings by investment institutions. 4.Underwriting developments. Role of Nominee Director
  • 13. Structure and Composition of Boards A.Structure – How to Balance? 1.Representation of Core Management Group. 2.Representation of Independent Elements. 3.Majority Representation. 4.Nominees Representation. 5.Professional Representation.
  • 15. What makes Effective Boards 1.Existence of Board as a Team. 2.Guarding against the breaking of the team bond. 3.Creation of a climate of trust. 4.Foster a culture of open Dissent. 5.Allow role switches. 6.Ensure Individual Accountability.
  • 16. Independent Directors – Meaning How to strengthen them? 1.Appointment. 2.Remuneration. 3.Human Resources. 4.Other areas. 5.Periodic review. 6.Liability insurance. 7.Training of Independent Directors.
  • 17. 8.Disclosure by independent directors. 9.Separate meeting of independent directors. 10.Designation of one or more as lead independent directors. 11.Substantial shareholding.
  • 18. Board Leadership -Barriers to Effective Board Leadership. 1.Time Management. 2.Resistance to risk taking. 3.Strategic planning. 4.Complexity. 5.Micro Management. 6.Clinging to tradition. 7.Confused Roles. 8.Past habit.
  • 19. The Board Chairman and the CEO Board Chairman – Concept and Role Qualities of Chairman 1.Conceptualiser. 2.Character. 3.Sound Health. 4.Aloofness. 5.Listening to criticism. 6.Own critic and judge. 7.Risk taker.
  • 20. Functions of the Chairman 1.Management Function. 2.Approval Function. 3.Leadership Function. 4.Consultative Function. 5.Spokesperson. 6.Initiative Function. 7.Special Invitees. 8.Planning and Running of Meetings. 9.Drafting of Minutes.
  • 21. The CEO and His Role 1. Periodical review of systems and procedures. 2.Consultation with Chairman. 3.Relations with NEDs. 4.Talent recognition. 5.Make available for performance review.
  • 22. Relationship between Chairman and CEO 1.Complementing the CEO. 2.Directing the CEO. 3.Consulting and Coaching the CEO. 4.Reviewing and controlling. 5.Restricting the power of the CEO. Separation of Positions of Board Chairman and the CEO.