Initiative aims to provide Directors with leadership experience as well as exposure to Corporate Governance and sustainable practices
22 March, 2023, Bengaluru: The concluding session of the first batch of the Young Directors’ Forum (YDF), an initiative of the Centre for Corporate Governance and Sustainability (CCGS) at IIM Bangalore, was held on 14th March 2024 at IIM Bangalore.
The session was led by Prof. Rejie George Pallathitta, Strategy area, IIM Bangalore and Krishnava Dutt, Managing Partner, Argus Partners. In his presentation, Prof. Pallathitta covered different aspects of ownership structures related implications on governance, the relationship and importance of controlling shareholders and minority shareholders, the evolution of capabilities in business groups to maintain continuance and relevance to stay in the market successfully, and types of business structures in family-controlled firms.
Krishnava Dutt spoke about the evolution of corporate governance principles and its emphasis on the Board’s responsibility to protect the interests of all the stakeholders – be it shareholders, the environment, or society. He also highlighted, with examples, the key responsibilities of independent and Executive Directors in a company and also how appropriate and sensible actions of the Board of Directors would impact and uphold the governance standards of the organization.
The session was chaired and moderated by Prof. Padmini Srinivasan, Chairperson, Centre for Corporate Governance & Sustainability and faculty from the Finance & Accounting area of IIM Bangalore.
The Young Directors’ Forum is primarily a group of young, senior professionals aspiring to be Directors on companies' Boards. The 2023-24 group covered sectors including SMEs, listed companies, unlisted private companies, start-ups, educational institutions and government organizations. Under this initiative, young Directors were brought together for capacity development and mentorship, in a bid to provide them with leadership experience and exposure to Corporate Governance and sustainable practices, policies as well as culture.
The speakers at the forum comprised IIMB faculty and industry stalwarts to provide practitioners' perspectives. Through multiple webinar sessions, YDF covered topics such as, Evolution and Imperative of Corporate Governance; Role of Independent Directors; Internal Control, Risk Management & Role of Board Committees; Financial Statement – Analysis, Interpretation and Communication by the Board; Cyber Security, IT Governance & Leadership; Directors’ Duties, Care and Skill Set in the Conduct of Business; Board Role in Succession Planning and Talent Management; Environmental, Social & Governance (ESG), and Managing Board Dynamics, Integrity in the Board Room; Private Boards Vs Public Boards.
The sessions were highly beneficial, offering useful insights to the participants on corporate governance and sustainable practices across India and other parts of the world. After the successful completion of the first batch of YDF, the second batch will be launched by CCGS shortly.