Storm The Norm 16: Indian boards are more statutory than strategic, end up as rubber stamps
What really makes for a great board?The turn of the century saw the collapse of Enron, Worldcom, Tyco, Adelphia, 2008 saw the collapse of Lehman Brothers. They all had boards with great experience, diversity, equity involvement, independence, and they all oversaw governance as well as strategy. Closer home, we’ve seen the tussles in the past few years in two of the most iconic Indian companies—Tata Sons and Infosys. We take this norm head-on with the leading subject matter expert on Board Governance, Mr. Shailesh Haribhakti. We asked him—much like how it’s asked of journalism: who will watch the watchers—what governs the ones tasked with governance?And as expected, he didn’t just make sense. He gave a rousing rallying cry and pointed unequivocally towards the direction Indians boards need to take, and what it takes to be a successful board.#Business #IndianBusiness #India
