Event: “Building and Running Effective Boards: ROLES OF CHAIRPERSON & SUCCESSION PLANNING”
Time: 26/9/2018 (8:00 -11:45)
Venue: Sofitel Legend Metropole Hotel, Thăng Long Room, 15 Ngô Quyền, Hoàn Kiếm, Hà Nội
Hanoi, Vietnam,26/9/2018 – Today, the Vietnam Institute of Directors (VIOD), Global Integration Business Consultants (GIBC) and Talentnet co-organized an event on “Building and Running Effective Boards: ROLES OF CHAIRPERSON & SUCCESSION PLANNING”, in collaboration with Hochiminh Stock Exchange (HOSE), Hanoi Stock Exchange (HNX) and Advisory Board Architects (ABA), with technical support from the International Finance Corporation (IFC).
Two famous guest speakers from Advisory Board Architects (ABA) shared on what high performance boards do to add value and impact to companies What composition and structure these boards should have? Especially, how the roles of the Chairperson could contribute to succession planning based on the experiences that ABA had from working with companies around the world.
“ABA has worked with Boards all over the world and a common factor that we find is a board can be one of the most powerful strategic tools that a CEO can use to accelerate their business. Unfortunately, many Chairmen and CEO’s are following a standard board process that is so focused on reporting that the board becomes viewed as a simple regulatory body and not as a strategic accelerator that creates Enterprise Value.” Mr. Bob Arciniaga, Founder and Managing Partner of ABA shared ““Through the implementation of ABA’s High Impact Board process in over 1000 board meetings globally, we have proven that organizations can increase the strategic effectiveness and drive greater efficiency from their board processes.”
The Board Chairman has a critical influence on a board’s style, its composition, balance and performance. The role of the Chairman is going to become ever more critical in emerging market where independence alone is not sufficient – he or she has to know something about the business, particularly in setting the board’s agenda and ensuring that the focus of the board’s work properly identifies and analyses issues strategic to the business.
“With many years of professional experience as a consultant to businesses in Vietnam, I think there is a need for reforms in the way that Board of Directors perform their roles in order to create effectiveness and good practices for companies “said Ha Thu Thanh, Chairperson of VIOD and Deloitte Vietnam. “Rather than intervening in the day-to-day running of the company, the Board needs to provide more strategic direction to help the Management implement and monitor corporate performance.”
With the participation of nearly 80 guests who are Board chairmen and representatives listed companies from HOSE and HNX, investment funds and advisory firms as well as media representatives, this is one of the first professional events to draw remarkable interest of the market since the inception of VIOD since April this year.
“The topic of the event today is one of the most important topics in the corporate governance development trend in the world. As one of the active organizations in promoting the development of good corporate governance practices in Vietnam stock market, Hanoi Stock Exchange always encourages listed companies to apply the best practices of moderncorporate governance modern, aiming at greater transparency. The content of the discussion today will bring a lot of information and good experience, help businesses access information, improve the position to better meet the requirements of society, “said Nguyen Nhu Quynh, board member and deputy CEO of the Hanoi Stock Exchange.
The Vietnam Institute of Directors (VIOD) is an independent organization, which promotes corporate governance standards and best practices in the Vietnamese corporate sector. VIOD is a social enterprise, aims to advance board professionalism, promote business ethics and transparency, create a pool for independent directors, build a network to connect corporate leaders and stakeholders, and help companies inspire investor confidence.
VIOD is governed by a board of directors comprising private sector representatives — in collaboration with and supported by the SSC, HOSE and HNX under the Vietnam Corporate Governance Initiative. Our board members encompass a diverse group of business leaders and advocates of good corporate governance in Vietnam. They include senior dignitaries from investment funds, well-known international legal and accounting firms, and independent board members of prominent companies in the market.
VIOD was formed with technical support from the International Finance Corporation (IFC), a sister organization of the World Bank and a member of the World Bank Group and the Switzerland’s State Secretariat for Economic Affairs SECO. For more information, visit www.viod.vn
Founded with the vision of accompanying Vietnamese businesses on the journey toward sustainable growth and integration into the global economy, Global Integration Business Consultants (GIBC) brings together a diverse team of professionals and experts from various business and management backgrounds, including veteran leaders and senior managers from local and multinational firms and organizations, economic experts, accredited legal advisors, accomplished PR and communications specialists and professors from leading local and international universities.
GIBC aims to facilitate business growth for our customers and prepare them for global competition through strategy advisory and management consulting services, including: business restructuring insights, human resource consulting, risk management consulting, marketing, communication and CSR consulting, GIBC also serves as a center for executive education to develop leadership capabilities and management skills for senior managers. For more information, visit www.gibc.com.vn
Originating from the Human Resources Services unit of PricewaterhouseCoopers Vietnam, Talentnet is now acknowledged as the leading HR consulting firm in the country, with nearly 20 years of experience in the local labour market. With the vision “Make a difference in the lives of every employee”, Talentnet is passionate about contributing to a better working life for Vietnamese employees through professional HR solutions designed to meet the diverse needs of Vietnamese and international clients.
Most clients are multinationals (of which half are Fortune 500 companies) and large Vietnamese companies, making Talentnet experienced in addressing various problems with customised solutions. Local understanding enhanced by international methodology from two global partners give Talentnet a greater understanding of organisations when providing suitable solutions. For more information, visit www.talentnet.vn
Advisory Board Architects (ABA) design, build and leverage highly engaged boards in many countries around the world. They have been gathering data on what’s working and what are the successful practices used by companies running high performance boards.
They have developed a set of unique procedures which drive strategic value to a wide range of businesses, either from their fiduciary or advisory boards, using a predictive analytical approach to selecting directors and implementing measurable processes which guarantees quantifiable strategic value. For further information, visit: www.advisoryboardarchitects.com
Detailed Press Release (Vietnamese) here