'Dependent' independent directors

Institutional investors, minority shareholders, employees - all these constituents should be given the right to choose at least one independent director each

Corporate governance, or “making boards more effective”, ranks right up there in executive training programmes. It’s in the august company of such timeless topics such as leadership, team work and strategy. If programmes on corporate governance have been going on for decades and we still need them, it’s a fair bet they haven’t been making much of a difference on the ground.

That’s also true of committees on corporate governance. There have been more committees on the subject worldwide than one would care to count. And yet the clamour for better governance refuses to die down. The Uday Kotak committee on