Following a number of high-profile corporate demises such as
Enron and Parmalat, the world of corporate governance underwent
significant changes. We saw the sprouting of legislation and codes
such as the OECD Principles of Corporate Governance, the
Sarbanes–Oxley Act, and various European national Corporate
Governance Codes to mention but a few. These sought to put
governance and boards under the microscope and highlight universal
principles which are primarily aimed at avoiding the corporate
failures of the past and enhancing awareness of the critical
importance of good governance.
Beyond a shadow of a doubt, good governance is a key ingredient
to the success of any corporate entity and a strong Board is
fundamental to good governance. The Board is the heart that pumps
blood across the organisation. It is the organ that is entrusted
with setting the right tone at the top. It is therefore fundamental
that at Board level, there is the appropriate mix of
