Effective Independent Director for better Corporate Governance

About the Program

The Symbiosis Institute of Management Studies is an accredited Centre for Corporate Governance of the National Foundation for Corporate Governance (established by the Ministry of Company Affairs and CII). For better Corporate Governance, the need for Independent Directors is recognized the world over. Independent Directors in India too now have substantive role and responsibilities; simultaneously, the companies act now allows a reasonably good remuneration to the Independent Directors. Most of the listed companies, out of 9000, were required to comply with Clause 49 of the Listing Agreement by 31st December 2005, which mandates that Independent Directors should constitute 50% of their Boards; otherwise the defaulting companies will have to face severe penalties. An estimate puts the requirement of Independent Directors at over 30,000 (Ref-primedirectors.com). Corporations in general and Directors in particular have to update themselves regularly to be able to discharge their onerous responsibilities. In Malaysia, it is mandatory for every company Director to undergo training each year. The growing demands on the time of such directors leading to progressive reduction in the number of permitted corporate directorships that can be held by individuals, there is pressing need to train and equip such independent directors in large numbers to meet this demand.

Who should attend?

MDs & CEOs, Independent Directors, Full time Directors, Non Executive Directors, Chartered Accountants, Company Secretaries, Chief Finance Officers and Academicians. Those at the level just below the Board and are aspiring to the Board positions also find this program substantially enriching.

About SIMS

Established by the nationally recognized Symbiosis Society, the Symbiosis Institute of Management Studies (SIMS) is an AICTE approved and ISO 9001:2000 certified management institute. SIMS is a constituent of the prestigious Symbiosis International University and is equipped with all the facilities of a contemporary Business school in a fully integrated and networked campus.

Full time Masters in Business Administration (MBA) programs are offered in contemporary specializations and blue-chip corporates visit our campus year on to recruit our graduating student managers. A large number of executive management programs in part-time and weekend format are conducted in concert with the institute’s 'Campus-to-Corporate' management development programs in open and customized format.

In concert with NFCG we are conducting training programs and research projects funded by the NFCG (established by Ministry of Company affairs and CII) with the aim of disseminating good corporate governance norms in the business community in this location.

Between January 2008 and March 2008 we plan to hold two more conferences/workshops on the following themes:

• Risk Management and Corporate Social Responsibility for better Corporate Governance - January 2008
• Improving Audit Committee functions for better Corporate Governance - March 2008