Defence Officers Begin First-Ever Corporate Governance Certification
The Indian Institute of Corporate Affairs (IICA), in collaboration with the Directorate General Resettlement (DGR) under the Ministry of Defence, has launched a pioneering certification program tailored for defense officers. The program was inaugurated today at the IICA Campus in Manesar, Gurugram, marking a significant step towards bridging the gap between military leadership and corporate governance.
This two-week certification course, which runs until August 31, 2024, has attracted 30 senior officers from all three branches of the armed forces, including Air Vice Marshals, Major Generals, and Rear Admirals. These participants, both active and recently retired, are set to receive specialized training aimed at preparing them for roles on corporate boards.
Ms. Monica Agrawal, Managing Director of Financial Services for Asia Pacific and India Lead for Board Services at Korn Ferry, delivered the keynote address as the guest of honor. She underscored the critical role of boards in corporate governance and emphasized the unique value that defense officers bring to these roles. According to Ms. Agrawal, the strategic acumen and leadership skills honed in military service can significantly enhance the effectiveness of corporate boards, particularly in navigating today’s complex business environment.
Ms. Agrawal also discussed the growing importance of Independent Directors in maintaining high standards of governance and highlighted the challenges faced by modern boards. She encouraged corporate houses to actively consider defense officers for board positions, given their expertise and disciplined approach to decision-making.
Dr. Niraj Gupta, Programme Director and Head of the School of Corporate Governance at IICA, provided a thematic address that set the tone for the course. He explored the convergence and divergence between public, military, and corporate governance, and stressed IICA’s role as a knowledge hub and catalyst for best practices in corporate governance. Dr. Gupta emphasized the importance of equipping defense officers with a comprehensive understanding of corporate governance principles to enable them to make meaningful contributions as Independent Directors.
The program is meticulously designed to provide participants with a robust conceptual and regulatory foundation in corporate governance. It also aims to help them understand the roles and responsibilities of Independent Directors, preparing them to contribute effectively to the boards they may serve on in the future. The participants have shown keen interest in broadening their understanding of corporate governance, viewing it as a pathway to contributing to the growth of Indian corporations and, ultimately, the nation.
Col. Amandeep Singh Puri, Chief Administrative Officer of IICA, welcomed the participants and provided an overview of the program’s design and IICA’s offerings for board members. The program’s proceedings were led by Dr. Anindita Chakrabarti, Principal Research Associate at IICA, with support from Mr. Mathew John, Mr. Asheesh Singh, and Mr. Manoj Singh.
This initiative is a testament to IICA’s ongoing commitment to promoting good governance and responsible business practices, reinforcing the value of cross-sectoral collaboration in advancing the nation’s corporate governance standards.
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