New Delhi: The ninth edition of “Perspective – Stepping into the Boardroom” was held on 20th September 2019 at Hotel Taj City Centre.
The subject of the edition centered around Stepping into Boardroom. The session was moderated by Mr. Ankit Bansal, CEO of Sapphire Human Solutions. The panel discussion was led by corporate luminaries Mr. Deepak Kapoor, Mr. Bhaskar Pramanik. Two dozen CXOs discussed and debated the opportunity and the role of an independent director in corporate governance.
The Major discussion revolved around composition & role of the board in corporate governance also the members of the board coming with domain expertise add value to the board and provide proper direction to the company, however the Chairman plays a very important part in ensuring proper composition of the board as well as the executive team.
Other points discussed included about the responsibilities of the board, how the vision Statement needs to be communicated to every member of the company whether executive or non-executive. The panelists also highlighted that “the board functions as group and not as an individual and together they can even decide to change the composition of the executive team and even the CEO in the interest of Company and its business”. They further added, “Continuing being part of the board is an individual decision and one has decide his own course of action, ideally when one believes that he has ceased to contribute value to the board or the board continuously ignores his suggestions without any merit or the practices on boards are no longer ethical, one should resign and exit the board.”
The discussion was concluded on a note that “the statute provides for the role of an independent director, professional ethics should of an individual member is key to a successful corporate board”.