The people’s patrimony

The people’s patrimony

The recent launch of a corporate governance training programme (see last Thursday’s paper) was encouraging. Sixteen young professionals started the second such pilot, to expand the potential pool of candidates to serve on supervisory boards.

Considering what has been going on at some of the government-owned companies, -foundations, etcetera, this seems quite welcome. There is also a Corporate Governance Council (CGC) that must be manned to advise particularly on appointments.

Depending on the nature of the enterprise, special technical, financial, legal or other expertise may be desirable and at times even required for at least some board members. However, general knowledge of related rules and the role itself would obviously be helpful.

Perhaps most important is to stop using these boards to reward supporters of parties in power. In other words: Put persons there based on their relevant capabilities rather than political affiliation, who actually have the capacity and strength of character to not only act in the best long-term interest of the company and its employees, but also effectively control the people’s patrimony on their behalf.

The Daily Herald

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