First Certification Program for Senior Defence Officers as Independent Directors by IICA and DGR

The Indian Institute of Corporate Affairs (IICA) in partnership with Directorate General Resettlement (DGR), Ministry of Defence, inaugurated the first of its kind certification program for defence officers here at the IICA Campus in Manesar, Gurugram, today.

This two-week certification programme has 30 senior officers, serving as well as recently superannuated, representing all three services. The programme witnessed participation of Air Vice Marshals, Major Generals, and Rear Admirals, amongst other officers. The two-week long programme will conclude on 31^st August 2024 with the certification ceremony.

In her keynote address, Ms. Monica Agrawal, Managing Director- Financial Services, Asia Pacific/ India Lead- Board Services, Korn Ferry and the guest of honour, highlighted the significance of the Board as a key instrument of corporate governance. She emphasised on the role played by the board members for enhancing the standards of corporate governance. Ms. Agrawal drew attention to the key challenges that the present day boards face and the role that the Independent Directors are expected to play.

A convergence between India Inc. & the armed forces was underlined in her address by attracting the attention of the corporate houses to utilise the leadership and strategic acumen of the defence officers by including them in the boards based on their expertise and skills. A sincere need for a collaborative approach has been highlighted for utilisation of the available talent to harness the opportunities & managing the risks. Ms. Agrawal also guided the group on the key aspects of behavioural and professional traits that the companies and the executive search firms look for while finding the best fit for a board position.

For the thematic address and setting the tone for the two week long course, the programme director, Dr. Niraj Gupta, Head School of Corporate Governance and Nodal Officer of the Independent Director’s Databank discussed about the convergence & divergence points between public governance, military governance & corporate governance. He further highlighted the role of IICA, as being the catalyst & reservoir of knowledge on corporate affairs and governance by serving the corporate eco-system as a catalyst of best practices and capacity building of corporate governance professionals.

The two-week programme is designed with the objective of orienting the participants with the conceptual and regulatory understanding on corporate governance and aims to orient the participants about the roles and responsibilities of the Independent Director and also to help them contribute effectively. The participants expressed their willingness and enthusiasm to understand corporate governance and its nuances, broaden their horizons to contribute to the development of Indian corporations and in turn, lead to the development of the nation. IICA continues to champion initiatives that promote good governance and responsible business practices.

Col. Amandeep Singh Puri, Chief Administrative Officer- IICA, welcomed the participants and oriented them about the programme design while discussing the offerings of IICA for the board members.

Dr. Anindita Chakrabarti, Principal Research Associate, IICA led the proceedings of the programme. Mr Mathew John and Mr Asheesh Singh, Mr Manoj Singh facilitated the programme.