On November 1, 2017, the first specialized training program “Corporate Director” for the members of the supervisory boards of joint stock companies (hereinafter – the Program) was successfully completed. The specialists of the Corporate Governance Professional Association and the Ukrainian Corporate Governance Institute with the support of the International Finance Corporation (IFC) and the assistance of the British Embassy in Ukraine, as well as the Center for International Private Enterprise (CIPE), developed and implemented the Program.
Opening the second module program, Oleksandr Okuniev, the Head of the CGPA Management Board, emphasized that in this module the attention of the audience would be centered on the adoption of strategic investment decisions by the Supervisory Boards and the evaluation of the effectiveness of the work of individual Directors and Supervisory Boards as a whole.
Iryna Starodubova, Associate Partner of Capital Times, told about the development and implementation of a business financing strategy. Of particular interest was the issue of raising funds from direct investment funds. Sergey Goncharevich, Founder and Managing Partner of Capital Times, in his session, focused on the advantages and disadvantages of publicity of companies, in preparing the company for initial placement of shares (IPO).
Dmitry Leonov, Chairman of the Council of the Ukrainian Association of Investment Business focused on the issues of evaluating the company’s performance; responded to the question, which information board members could get from the financial statements, which indicators could indicate potential problems and risks of the company.
The sessions of Oleksandr Okuniev, the Head of the CGPA Management Board, were devoted to the aspects of the Board’s performance evaluation, the criteria for assessing the effectiveness of the Board, the methodology for conducting the evaluation, and also the approaches to solving the problem of continuity in the management of the company.
The special interest of the participants of the program was caused by the session of the invited speaker of the Program – Partner of the Saenko Kharenko Company Sergey Pogrebnoy, who outlined his vision of the role of the Board in ensuring corporate security of the company; the powers of the Supervisory Board in the field of business security, as well as the optimal scheme of corporate security and the actions of its management in emergencies.
Finally, in the round table format, the Program participants had the opportunity to talk with the members of the Registry Advisory Board the National Registry of Corporate Directors: Olena Voloshyna, the Head of the IFC Operations in Ukraine, and Oleksandr Okuniev, the Head of the CGPA Management Board. They answered all questions regarding the requirements and procedures for including in the Registry, as well as about the opportunities that can be opened to the directors included in this Registry.
Serhiy Triputen, Project Manager IFC, Corporate Governance Project in ECA, told about the long and fruitfull cooperation between IFC and CGPA in the field of implementation of good corporate governance in Ukraine.
Participants received a Certificate, which certifies their readiness for continuous improvement and the pursuit of new knowledge and achievements in the field of improving corporate governance in Ukrainian and international companies.