1 The Role of IoDs in developing the standards of directors and boards Chris Pierce

2 Company Directorship should be a Profession. l Bounded and prescribed body of knowledge and skills l Distinct group of people l Training, Education and Development l Examinations l Code of conduct and Professional Standards l Self regulation l Public confidence l Continuing professional development

3 An Institute of Directors is expected to: l Develop and maintain professional standards l Be involved in advocacy and lobbying activities l Engage in commercial activities

4 Benefits of an IoD l More effective boards l More professional directors l More effective companies l Less corruption l Job creation l Economic growth l Poverty reduction

5 The UK experience l Established 100 years l Membership about 70,000 members l 7,000 members engaged in training and development activities. l 200 chartered directors

6 Chartered Directors l Examination l Professional Review l Code of conduct

7 Training and development Over 40 course titles including: l Role of the Director l The Director and the Law l Strategic Business Direction l Effective board decision making l Directing and leading change

8 Trainers and developers l Expert in their field l Currently directors l Excellent communication skills l Excellent group management skills

9 International IoDs l Target Every country to have its own IoD by end of 2004.

10 Activities Global Corporate Governance Forum Toolkit 1 l Start up l Funding l Membership development l Membership management l Marketing and PR l Training and development l Sustainability

11 Other activities l World Bank Country Assessments l Training networks and training l Private Sector Development Forums l Round tables l White paper development l OECD Corporate Governance Principles revisions

12 Chris Pierce Institute of Directors