I have done my Post Graduate Diploma in Business Management from Tolani Institute of Management Studies, India with speciation in Finance Management in year 2003.
I want some more information for the course to be Independent director and the future opportunities on same.
The role of Independent Directors should be to ensure that the corporate follows the priciples of corporate governance. The ID's should be independent as the very name suggests and they should be nonaligned without joining any group in the Board.The independent Directors should add value to the Board and they should attend all the Board meetings.They should effectively participate and should not be a silent spectator otherwise the very purpose of their appointment will be defeated.
For the most of the Company's Independent Director appointment is only an execrise to comply with the requirements of the law.A person can became an Independent Director of a company only when he is a 'yes-men' of the promoter group because he need the support of promoter group for his appointment.
thus until and unless the appointment of independent director is by Central Govt. or an independent outside authority the concept of independent directors shall be merely an exercise to comply with.
Well, if getting and keeping a JOB paying you 12-16 lacs pa is the issue, why will anybody keep shareholders or government interest ahead of one's own. Do you expect 30000 harishchandras here ?
1. The IDs should be appointed / recommended by the regulator and paid by the regulator. Fees to be collected from the company based on its turnover / share capital or investor base ( more directors / fees for higher stakes )
2. They should not be on board of more than one company
3. They should not be serving for more than 2 to 4 years in any one company.
What about business ethics ? interest of customers ?
( oh, business and ethics, are they contradictory terms ? )
