The Business Times
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The changing face of board governance amid modern challenges

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    • Boards have moved beyond just overseeing company regulations and commercial interests, and must adeptly navigate complexities, foster trust through transparency and adapt to the changing demands of the business world.
    • Boards have moved beyond just overseeing company regulations and commercial interests, and must adeptly navigate complexities, foster trust through transparency and adapt to the changing demands of the business world. PHOTO: EPA-EFE

    Ty Francis

    Published Thu, Jan 4, 2024 · 05:00 AM

    THE fast-paced nature of the dynamic business world underscores the critical importance of effective board governance. With the rise of shareholder activism, boards now bear the responsibility of not only charting a course for long-term success but also skilfully navigating an array of modern complexities, encompassing the well-being of people in the organisation, the promotion of values, and the nurturing of corporate culture.

    The recent high-profile news stories surrounding the unusual governance structure of OpenAI’s board, the departure of Binance’s chief executive officer and its subsequent US$4.3 billion in penalties, NatWest’s CEO ousting, and the failure of Silicon Valley Bank all highlight how boards can no longer operate in silos.

    They are also a reminder that the role of boards and how they need to function are changing.

    Corporate boardsCorporate governanceESGShareholder activismCorporate culture

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