Summary |
Every company incorporated for business is required by law to have a Board of directors –a statutory Board. Building an effective Board is a key feature of the governance journey to building a successful company. The duty of Board is to represent and protect the interests of all stakeholders. In the words of Ken Derr, CEO of Chevron, “there’s nothing more important to a company’s fortunes than a strong Board.” The Board of a company has overall responsibility of ensuring transparent, ethical and responsible governance of the company. It is therefore important that the Board processes of the company are robust. They can be broadly into two parts namely:
Part A – Board Structure
Part B – Board Systems and Procedures.
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