Chennai, Sep 14 : A one-day summit on Corporate Governance was conducted by the Institute of Directors (IOD) here on Saturday. IOD, Tamil Nadu and Puducherry Region organized this summit to bring together relevant stakeholders to one platform to listen to experts, discuss and share their insights on various issues pertaining to recent trends in Corporate Governance.
The Institute of Company Secretaries of India was the ‘Conference Partner’ for the event and Frost and Sullivan was the ‘Knowledge Partner’. The theme of the summit was ‘Emerging Trends in Corporate Governance’.
Inaugurating the summit, Tamil Nadu Governor Banwarilal Purohit said Corporate governance was very important in business management and its impact on society was significant. It includes evaluation of company boards, board diversity, role of independent directors, protection of shareholders, managerial compensation, etc, he said.
''Policymakers are conscious of this and several committees have been formed in this direction. Most of their recommendations have been accepted'', he added. Whatever was mode of ownership the basic principles of corporate governance should be to respect shareholders, he pointed out.
Stating that ethical and responsible decision making was the need of the hour, Mr Purohit said diligence and persistence, creativity, learning skills, competitive drive, willingness to learn more and time management form ethical leadership. The Governor said ''if your organization has ten departments, select ten best people to head them and leave everything to them. Then your organization will be the most successful one'' ''Now is the time for transparency, not only in corporate life but also in your personal life'', he said and added that ''a religious mind will help refrain from committing sins, and will not allow ill-gotten wealth to enter their houses. (UNI)