The topic of the effective Supervisory Boards in Ukrainian companies is very relevant now. There are many questions about the work of the Board, about the organization of the work of the committees, and about the form of holding the meetings. At the same time, an important part of the work with the Board is to familiarize the new members of the Board with information about the company itself, its features, internal documents, its strategy and plans. Therefore, we dedicated one of our closed meetings of the Association members to the topic “Induction session for members of the Supervisory Board. Features of work of the Corporate Secretary in the conditions of the conflict of shareholders “.
Oleg Zhuravlov, Independent Corporate Governance Expert, Advisor to the Chairman of the CGPA Managenet Board, Chairman of the Supervisory Board of the KRONA Insurance Company, Ph.D., MBA, helped us to deal with the peculiarities of the Induction Session – new procedure for Ukraine.
The purpose of the Induction is to provide the new member of the Supervisory Board (SB) with the information in order to become as effective as possible in his or her new role at the earliest possible time. According to the speaker, the provision of well-thought-out and comprehensive intduction programs to new members of the SB is an important element of good corporate governance.
During the meeting, the participants got acquainted with the directions of Induction, about the role of a member of the Board in the company (politics, corporate governance code, insurance, dress code, etc.), about the work of the committees, behavior during the Councils (expectations from the work of Board members, code of ethics and/or behavior), useful documentation (information) for the Board (annual report, meeting minutes, analytical studies, public news about the company).
Of course, the participants were particularly interested in practical examples of the implementation of such a procedure in Ukrainian and foreign companies.
The second part of the meeting was devoted to a case study about the peculiarities of the work of the Corporate Secretary in the conditions of a conflict of shareholders, his/her role and opportunities.
We remind you that closed meetings of the CGPA members are held every month on Tuesdays and are devoted to current topics in the field of corporate governance. During meetings, the members of the Association share their experience, answer questions, hold consultations, and get acquainted with new colleagues. Join now!