New Delhi: SCOPE and Department of Public Enterprises (DPE) jointly organized two-day Programme today on “Global Trends in SOE Governance and Board Effectiveness – Focus on Independent Directors”. Mr. K.D. Tripathi, IAS, Secretary, DPE inaugurated the Programme. Mr. C.S. Verma, Chairman, SCOPE & Chairman, SAIL presided over the Programme. Dr. U.D. Choubey, Director General, SCOPE delivered the Welcome Address. Prof. Y.R.K. Reddy, Lead Resource and Mr. Peter Greenwood (UK), International Resource persons also addressed the Programme.
Mr. K.D. Tripathi, IAS, Secretary, DPE in his inaugural address said that the Boards play an important role in the governance of Central public sector enterprises. It is an intermediary between the State and its Executive Management. He said the government has given greater empowerment to CPSEs Boards by conferring Maharatna and Navratna status. He said the selection process in CPSEs ensures appointment of best talented and competent people on their boards.
Mr. C.S. Verma, Chairman, SCOPE in his Presidential Address said that Corporate Governance rests on four pillars i.e. Fairness, Transparency, Accountability and Responsibility, emphasizing that good Corporate Governance helps in building a good image of the country in domestic and international markets. Speaking on the present day functioning of PSE Boards, he mentioned that the three segments of the Board i.e. Functional Directors, Government Nominee Directors and Independent Directors need to work in a cohesive manner.
Dr. U.D. Choubey, Director General, SCOPE in his welcome address said the Board is head and management is hand in an enterprise. Board decides vision and strategy and implementation is done by the management. He said the CPSEs Boards represent complex coalition of diverse and heterogeneous partners i.e. Functional Directors, Government Nominee Directors and Independent Directors and they represent different stakeholders’ interest. Dr. Choubey emphasized on the need for regular orientation course so as to ensure effectiveness of the board with respect to best corporate governance.
Mr. Peter Greenwood, International Resource Person said that Indian CPSEs have massive intellectual power to develop their own Corporate Governance model which other countries can follow. Dr. Y.R.K. Reddy, Lead Resource, informed that Corporate Governance is beyond compliance and emphasis should be on value creation in the company.
The Programme is being attended by a large number of CEOs, Government Nominee Directors, Functional Directors, Independent Directors and potential Directors of CPSEs.
On the dias Mr. K.D. Tripathi, Secretary, DPE (centre), to his left Mr. C.S. Verma, Chairman SCOPE and Chairman SAIL. Other panelists (sitting Left to Right) Prof. Y.R.K. Reddy, Lead Resource; Dr. U.D. Choubey, Director General SCOPE and Mr. Peter Greenwood, International Resource person (extreme right).