Gurugram: The Indian Institute of Corporate Affairs (IICA), in collaboration with the Directorate General Resettlement (DGR) under the Ministry of Defence, inaugurated a certification programme on August 20, 2024 aimed at preparing senior defence officers for roles as independent directors. The programme was launched at the IICA Campus in Manesar, Gurugram.
This inaugural two-week certification programme includes 30 senior officers, both currently serving and recently retired, from all three branches of the armed forces. The participants include Air Vice Marshals, Major Generals, and Rear Admirals, among others. The programme is set to conclude on 31 August 2024 with a certification ceremony.
In her keynote address, Monica Agrawal, Managing Director - Financial Services, Asia Pacific/India Lead - Board Services at Korn Ferry and the guest of honour, underscored the critical role of the board as a cornerstone of corporate governance. She emphasised the importance of board members in elevating corporate governance standards and highlighted the challenges contemporary boards face. Agrawal called attention to the potential for synergy between corporate India and the armed forces, advocating for the inclusion of defence officers on corporate boards to leverage their leadership and strategic expertise. She also provided guidance on the key behavioural and professional qualities that companies and executive search firms seek in board candidates.
The programme's director, Dr. Niraj Gupta, Head of the School of Corporate Governance and Nodal Officer of the Independent Director’s Databank, delivered the thematic address. He discussed the convergence and divergence points between public governance, military governance, and corporate governance. Dr. Gupta highlighted IICA's role as a catalyst and knowledge reservoir in corporate affairs and governance, contributing to the corporate ecosystem through best practices and capacity building for corporate governance professionals.
Designed to provide participants with a strong conceptual and regulatory foundation in corporate governance, the programme aims to equip them with the knowledge and skills needed to fulfil the responsibilities of an independent director effectively. The participants expressed enthusiasm for understanding the nuances of corporate governance and expanding their horizons to contribute to the growth of Indian corporations, ultimately aiding in the nation's development. IICA remains committed to championing initiatives that promote good governance and responsible business practices.
Colonel Amandeep Singh Puri, Chief Administrative Officer of IICA, welcomed the participants and provided an overview of the programme’s design, highlighting IICA's offerings for board members. The programme was facilitated by Anindita Chakrabarti, Principal Research Associate at IICA, along with Mathew John, Asheesh Singh, and Manoj Singh. /BI
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