The event was opened by Caroline Spillane CDir, Chief Executive Officer, IoD Ireland. Caroline welcomed the members and noted that the aim of event was to provide attendees with an international perspective, and an update from the OECD on their Principles of Corporate Governance.
(Pictured: Caroline Spillane CDir, Chief Executive Officer, IoD Ireland)
In his keynote, Daniel Blume, Head of the Corporate Governance Unit, OECD, provided an update on the revised G20/OECD Principles of Corporate Governance and the OECD Corporate Governance Factbook. In his address, Daniel noted how the OECD Principles are not a Code. He noted they provide guidance to help policy makers evaluate and improve the legal, regulatory and institutional framework for corporate governance. He added this was with the view to support market confidence and integrity, economic efficiency, sustainable growth and financial stability. As the main international benchmark for good corporate governance, the Principles have a global reach and reflect the experiences and ambitions of a wide variety of jurisdictions with varying legal systems and at different stages of development.
Daniel also noted that a key priority of the OECD is to monitor and promote the implementation of the Principles. Today, 53 jurisdictions have adhered to the Principles, including all OECD, G20 and FSB members. During his presentation Daniel also addressed the 6 pillars of the Principles, including the responsibilities of the board. On this area he also discussed themes such as stakeholder interest, board committees, risk diversity, and renumeration.
(Pictured: Daniel Blume,Head of the Corporate Governance Unit, OECD)
Daniel was joined by Dr Margaret Cullen, Governance Advisor, IoD Ireland, for the Q&A session. This session addressed key areas and themes such as investors, sustainability, whether Ireland should have its own corporate governance code, employee representation on boards and more.
After the discussion, the event provided business leaders and directors with a key networking opportunity to connect and reconnect as a member community.
(Pictured L to R: Daniel Blume, Head of the Corporate Governance Unit, OECD and Dr Margaret Cullen, Governance Advisor, IoD Ireland)
The IoD Ireland Briefing Series: Designed for Directors is sponsored by Accenture. Accenture is a global professional services company with leading capabilities in digital, cloud and security.
The webcast and event presentation slides will be available to members on our website shortly.
(Photographs courtesy of Damien Eagers @ Coalesce)