When founders take on the board

A diligent board needs to facilitate transition when founders pass on the baton, say experts

As the boardroom battle at Infosys plays out in the public domain it may be worthwhile to look at the statutory requirements for disclosure relating to remuneration, severance fee or other benefits to directors and key managerial personnel (KMP) in a company. Experts point out that just complying with the statutory requirements is a necessary, but not sufficient, condition for meeting the corporate governance standards set by a company.

Among the key lessons for corporate India from the Tata-Mistry spat and the ongoing tussle between the founders and the board at Infosys is that boards need to become more proactive in