On 2nd August 2024, the Indian Institute of Corporate Affairs (IICA) hosted a private roundtable consultation with leading executive search firms at its Gurugram campus. This event featured over 20 managing, equity, and senior partners from some of India’s top executive search firms, aiming to collaboratively enhance board compositions in Indian boardrooms.
Dr. Ajay Bhushan Pandey, Chairman, Director General & CEO of IICA and Chairman of the National Financial Reporting Authority (NFRA), presided over the meeting. Key figures such as Dr. Niraj Gupta, Head of the School of Corporate Governance & Public Policy at IICA, Mr. Mathew John, Chief Program Executive, IICA, and Mr. Manoj Singh, Chief Program Executive, IICA, led the session.
During his address, Dr. Pandey highlighted the significance of the session and the pivotal role of executive search firms in improving board governance.
Dr. Niraj Gupta and Mr. Mathew John presented an overview of IICA’s initiatives, including the Independent Director Databank.
Notable firms at the event included Korn Ferry, Egon Zehnder, Executive Access, ABC Consultants, Kestria, KPMG, Pedersen & Partners, EMA Partners, DHR Global, Boyden India, Sheffield Haworth, Vahura, Athena Consulting, 3P Consultants, WalkWater Talent Advisors, Xpheno, and Deininger Consulting.
The roundtable reinforced IICA’s dedication to fostering best practices in the Indian business sector. It facilitated a rich exchange of insights on board governance and the roles of executive search and talent advisory firms in enhancing board effectiveness.
Dr. Niraj Gupta opened the event with a welcome address, setting the stage for the discussions that followed.
Key discussion points included:
Reflections and Expectations:Insights from executive search firms on board practices and director selection.
Independent Director Databank’s Value Propositions: Benefits and unique advantages offered to the industry.
Enhancing Search Firm Access to IDDB: Strategies to improve access and utilization of the IDDB by executive search firms.
Improving Utilization of Search Firms by Corporates: Collaborative opportunities to enhance board member recruitment effectiveness.
IICA Initiatives and Engagements:Current and future initiatives by IICA to support corporate governance excellence.
IICA remains committed to promoting good governance and responsible business practices. The insights from this roundtable will guide future strategies to improve the Independent Director Databank’s utility and relevance, alongside other initiatives aimed at advancing corporate governance excellence in India.
