On Friday, February 2, 2018, the regular general meeting of the members of the Corporate Governance Professional Association (hereinafter the Association) was held.
During the opening of the meeting, Oleksandr Okuniev, the Head of the Management Board, congratulated the new individual and institutional members upon joining the Association, having handed them certificates of members.
Further, Oleksandr Okuniev said that in 2017, the Association continued to work in three main areas: the activities of the corporate directors, the activities of the corporate secretaries and the implementation of anti-corruption compliance in business.
«Our Association is focused on people who work in the field of corporate governance. If we help them to become professionals of the highest level, we will thus help the business, and, therefore, we will help the country», – said Oleksandr Okuniev.
If we talk about the activities of the corporate secretary, the Association achieved success in this direction more, because, firstly, the demand was formed earlier, and secondly, specialists in this direction are more active. A regular calendar event was the International Corporate Secretaries Forum, which is already known and recommended in a professional environment. Every year the number of participants and the number of participating countries increases. In 2018, the Forum of Corporate Secretaries is scheduled for June 14 and the event is being actively prepared.
Also, the competition «Corporate Secretary of the Year» became annual: «The level of the competition is quite high. We can be proud of our laureates and winners of the Contest, and their further significant career development is a convincing evidence of it», – said Oleksandr Okuniev.
The achievement of the Association in 2017 was the signing of an agreement with the ICSA: The Governance Institute, the British Institute of Corporate Governance, which enables Ukrainian specialists to become closer to the world community of professionals by passing exams for obtaining British professional qualifications in Ukraine.
The project «Support Information Materials for Specialist on Corporate Governance» was significantly improved by the addition to the electronic bulletin the opportunity to participate in webinars, getting the individual consultations and the possibility of attending two one-day seminars from the list of topics. The package helps specialists to keep abreast of all developments in the field of corporate governance regardless of location.
As Oleksandr Okuniev noted, the Association once again confirmed its role as the leading center of expertise on corporate governance issues, helping state bodies (the National Securities Commission, SPFU, the relevant committees of Verkhovna Rada of Ukraine) in developing solutions, and the market entities in law enforcement.
In activities for corporate directors, there were many innovations. One of the significant achievements was a whole range of issues on the implementation of the National Registry of Corporate Directors (hereinafter – the Registry), which started in spring 2017. The Regulations on the Registry were developed, the Registry Advisory Board was formed from well-known business representatives, several meetings of the Board were held, and the first three independent directors were included into the Registry. The Association is still trying to complete the Registry and promote its members, monitors the tenders for the selection of independent members of the Supervisory Boards.
Public authorities have already paid attention to the active activities of the Association and invited several members of the Association as representatives of the publicity to the competition commissions for the selection of independent members of the Supervisory Boards of state joint-stock companies.
At the end of 2017, the Code of Professional Conduct of Corporate Directors was developed; it defines the principles that non-executive directors must adhere to, namely the members of the Supervisory Boards in the performance of their duties. With the help of the Code, all interested parties can better understand the requirements for directors, the principles of their selection for positions and the evaluation of their work. The Code is approved by the General Meeting of the Association.
Last year, the training of directors on the training program «Corporate Director» was resumed. Two pilot programs were supported by donor organizations. For the first time we were supported by the British Embassy in Ukraine and our regular partners – the International Finance Corporation (IFC) and the Center for International Private Enterprise (CIPE).
In December 2017, the Second International Corporate Directors Forum was held, which brought together about 200 participants from Ukraine, the United Kingdom, the United States, the Netherlands, the Republic of Kazakhstan, the Kyrgyz Republic, the Republic of Belarus, and the Republic of Moldova. Among them were members of the supervisory boards of Ukrainian and foreign companies, representatives of government agencies and heads of large and small companies, representatives of investment companies, banks and international organizations that are involved in the process of establishing and developing corporate governance and the activities of the Supervisory Boards.
The third main activity of the Association is compliance. This direction is very close to corporate governance, and therefore a project was launched to develop a curriculum for anti-corruption compliance; training was conducted and teachers were selected for the program; training materials were developed and 6 five-day programs for business representatives were successfully conducted. This year, the Anti-Corruption Compliance Manual is already being prepared for publication.
During the General Meeting, the Board and the Audit Commission of the Association were re-elected, and after the end of the General Meeting, the first meeting of the new Management Board took place, at which the members of the Management Board re-elected Oleksandr Okuniev as a Head of the CGPA Management Board.