Baltic Institute of Corporate Governance’s Post

Preparing to Be a Corporate Director What does it take to succeed as a corporate director? For senior executives interested in joining a corporate board, preparation is key, as board service presents unique responsibilities, dynamics, risks, and opportunities. It also calls for a distinctive set of skills. This program will equip you with critical tools and insights that will enhance your readiness for corporate board service and enable you to make a lasting contribution at the highest level of an organization.

Singapore Leaders Network (SGLN) and Human Capital Leadership Institute (HCLI) recently hosted a timely and crucial webinar featuring Andrew Fastow, the former CFO of Enron. His insights on navigating the grey zone in one's career were enlightening. As a finance steward, I had the privilege of attending this session in person on the mid-autumn festival, a night of family gatherings and celebrations. During the webinar, Andrew Fastow shared valuable insights that resonated with me and my takeaways were: - Emphasizing the importance of never shying away from accountabilities and responsibilities as a mark of strong leadership. - Demonstrating talent and creativity in the pursuit of perfectionism at work. - Stressing the significance of understanding accounting principles underlying IFRS or GAAP when navigating grey areas and managing risks, drawing from Enron's case. - Encouraging reflection on whether the right questions are being asked to fulfill fiduciary duties when striving to meet objectives in financial reporting. It was a thought-provoking session that shed light on the complexities of financial leadership and the critical role of accountability in decision-making. #Leadership #Finance #Webinar #CareerInsights

COMMONLY ASKED QUESTIONS PART 1 🔑👇🏼 ”How many people must be on the board to register a company in Finland?” This is one of the most common questions we get regarding company formation in Finland and here’s the answer: 🔹 You can set up an Oy either solo or with other shareholders 🔹 If you opt for a solo setup, you’ll be the sole shareholder and often, the Board of Directors. In this scenario, your company’s Board of Directors must also include at least one deputy member. 🔹 It’s essential for both the actual member and the deputy member to reside in the European Economic Area. Otherwise, they’ll require permission from the Finnish Patent and Registration Office to assume leadership roles in your company. Other options and solutions are possible - in this case, contact us to go over your situation. 🙏🏼 Need assistance navigating through the company setup process? Reach out to us for tailored advice! 📩 [email protected] #companyformation #companyformationinfinland #businessinfinland #businessconsultationinfinland #businessconsultation #accountinginfinland #kirjanpito #kirjanpitäjä #yritysneuvonta #lakineuvonta #yrittäjyys #yrittäjille #yrittäjätsuomessa #liikevaihto #raamatupidaminesoomes

4 KEY FOCUS AREAS FOR NEW LEADERS IN GRANT MANAGEMENT For organisations heavily dependent on grants, as well as those that distribute a lot of grant funding, the efficiency and effectiveness of their grant management program is a tell-tale sign of how sustainable they will be in the future. Here's what new leaders should prioritise when they join a grant-dependent organisation. 👇 🔗 https://lnkd.in/gUFvh-eU

After an intense and insightful three weeks, I’m proud to have completed the Board Member Program by Baltic Institute of Corporate Governance. In my advisory work with companies considering tapping the capital markets or going through M&A processes, the importance and value-adding role of strong governance practices is undeniable. Companies are increasingly recognizing the need to adopt models that ensure long-term success. What I truly appreciated about the program was its comprehensive, engaging and analytical approach, offering diverse perspectives without prescribing a "one-size-fits-all" solution. Some key takeaways include: - The crucial role of independent boards in fostering accountability and diversity of thought. - The real impact of stakeholder relationships—from employees, communities to investors—on long-term success - The governance structures that drive resilience. A big thank you to Rytis Ambrazevičius, Erik Sakkov, Andris Grafs and all the speakers for delivering such a high-quality program, which clearly reflects years of refinement. That exam in the end was no joke either! Also, I had the pleasure of sharing the experience with an exceptional group of professionals over the past three weeks. Thank you all! Special shoutout to Flemming Lindeløv for the unforgettable life quote: “If you want a task done, ask a busy person to do it.” #corporategovernance #leadership #boardmember #sustainability #capitalmarkets

My colleague Wout Van Impe met with GUBERNA - Instituut voor Bestuurders/Institut des Administrateurs to talk about the importance of diversity and inclusion and to give a stepwise guide on how organisations can implement this in their selection and recruitment procedures. "We could state that there is an academic consensus on the fact that diversity is a key ingredient for better quality of governance decision-making. Furthermore, a large body of academic literature finds a positive relation between increasing inclusivity on Boards and Executive Committees and organizational effectiveness. We observe that inclusive and diverse boards and management teams perform better. Collaboration, innovation, improved decision-making, and better stakeholder engagement are all fostered by a diverse composition.  We must also keep in mind that diversity is important, but not sufficient. To enhance team performance, it often comes down to inclusion. Nonetheless, in Belgian practice we see that diversity and inclusive leadership are maybe still undervalued in the Boardroom. Some organisations definitely have a ‘diversity problem’.  This brings us to Wout Van Impe, partner & Team Director MU Belgium, for a conversation about both technical and strategic issues on how to enhance the diversity and inclusivity of board and leadership teams." Read the full article here: https://lnkd.in/dCxe9mAr

🔴Full News🔴As a seasoned governance expert with over 16 years of experience in Corporate/Board Governance, I have seen firsthand the importance of a well-functioning Board of Directors. Currently, I sit on various Councils, Boards, and Committees, including--and the Cape Peninsula University of Technology. In this article, I will share my insights on the critical role of the Board and the dangers of getting involved in day-to-day operations. Full News⬇️ https://lnkd.in/dB7EHnEu

#GLOBALSOUTHALERT: #TRUST FROM SINCE MEDIEVAL #ENGLAND, TO BEYOND #AMERICAN DECLARATION OF INDEPENDENCE ON JULY 4, 1776. [FOR DETAILS: https://lnkd.in/ewiwj4Nz ] TAGLINE: "#TREASURE THE #PEARL , RIDE #SPECIAL #MOBILITY." iSPECIAL MOBILITY ECOSYSTEM LINK: https://lnkd.in/dQeAywjs VISION STATEMENT: "WHOLE BUSINESS SECURITIZATION (#WBS) FOR #AFRICA AND #BEYOND."

As many South African business families have entered (are entering) into a phase of inter-generational transition, and with the younger generations being more concerned with social and entrepreneurial legacies, open dialogue and collaboration is imperative across generations, enriching the family business legacy by incorporating diverse perspectives and approaches. It is important to recognize that change can be embraced without losing sight of the foundations that the business has been built upon. With this in mind, business family leaders need to find a balance between tradition and innovation, and in turn to create a legacy that ensures the success of their business(es) across generations. This question lies at the heart of the recent STEP Project Global Consortium (SPGC) and #KPMGPrivateEnterprise comprehensive study on family business legacies. Through a global survey and regional roundtable discussions with family business leaders, the study delves into the essence of legacy and its impact on business performance. This article identified some of the pertinent takeaways for business families to consider. You can find the full report here - https://lnkd.in/dDk5rfPh. Alan Barr CA(SA) Robyn Langsford Andrea Calabrò Daniel Trimarchi Rosalia Santulli Laura Taylor Arpita Vyas Alfredo Valentino Michelle Draai

My colleague Wout Van Impe met with GUBERNA - Instituut voor Bestuurders/Institut des Administrateurs to talk about the importance of diversity and inclusion and to give a stepwise guide on how organisations can implement this in their selection and recruitment procedures. "We could state that there is an academic consensus on the fact that diversity is a key ingredient for better quality of governance decision-making. Furthermore, a large body of academic literature finds a positive relation between increasing inclusivity on Boards and Executive Committees and organizational effectiveness. We observe that inclusive and diverse boards and management teams perform better. Collaboration, innovation, improved decision-making, and better stakeholder engagement are all fostered by a diverse composition.  We must also keep in mind that diversity is important, but not sufficient. To enhance team performance, it often comes down to inclusion. Nonetheless, in Belgian practice we see that diversity and inclusive leadership are maybe still undervalued in the Boardroom. Some organisations definitely have a ‘diversity problem’.  This brings us to Wout Van Impe, partner & Team Director MU Belgium, for a conversation about both technical and strategic issues on how to enhance the diversity and inclusivity of board and leadership teams." Read the full article here: https://lnkd.in/dV8VA4Ve