Expert-Grup

The Importance of Boards of Directors for Good Governance of State-Owned Companies Discussed at a Press Club

Friday, 14 June 20242816 views
The Importance of Boards of Directors for Good Governance of State-Owned Companies Discussed at a Press Club

Automatically translated summary. The full article is available in Romanian.

The Independent Think Tank “Expert-Grup”, in partnership with Soros Foundation Moldova, held a press club on the reform of state-owned companies. The discussion focused on the role of boards of directors in ensuring good corporate governance, including the plan to attract independent members, notably from the diaspora.

Natalia Vrabie of the Public Property Agency said the 2023-2030 state property strategy (Government Decision 911) is being implemented. A model corporate governance code has been approved, and 29 of 31 joint-stock companies have adopted codes. The selection procedure and commission for independent members, including civil society and diaspora representatives, are approved, and the competition will start soon.

Ina Crețu of Soros Foundation Moldova argued that independent members will professionalise boards, increase transparency and impartiality, and improve efficiency. Vitalie Rapcea of Expert-Grup announced information sessions in EU countries for diaspora members with board experience. Expert Uwe Konst presented a study stressing that independent members bring complementary expertise, a distinct perspective, consensus-building, rigour, critical assessment of management and objective hiring and promotion.

View the original article in Romanian