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SLID launches Independent Directors Forum


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The Sri Lanka Institute of Directors (SLID) launched its inaugural Independent Directors’ (INED) Forum last week with the participation of senior and experienced directors from the corporate business sector. 



In keeping with its firm commitment to foster good corporate governance and uphold the value of independent non-executive directors in Board processes, HNB Assurance PLC, supported the initiative by providing the venue and refreshments that evening.

SLID Chairman Preethi Jayawardena inaugurated the forum and made the opening speech followed by SLID Vice Chairman Faizal Salieh, who gave an overview of the forum, its purpose and objectives.

The discussions kicked off with Dr. Harsha Cabral, PC, Non-Executive Chairman Tokyo Cement and LOLC Finance making a short keynote speech about the role, duties and responsibilities of INEDs including their legal obligations interspersed with pertinent examples. The keynote address was followed by a lively and in-depth group discussion on the way forward for the forum. 



The idea to create such a forum emerged from the post event discussion of SLID Power Evening in February 2017 which was titled “Non Executive Independent Directors: Who are they? What do they do?” with regard to a greater need for the role, responsibility and accountability of INEDs. The initiative was spearheaded by Faizal Salieh.  “The primary objective of this Forum is to provide a constructive platform for the engagement of Independent Non-Executive Directors who are serving on the Boards of listed and unlisted companies in Sri Lanka and enable them to understand their roles and responsibilities, share and learn from each other’s experiences, and discuss issues and problems they encounter in discharging their roles in the boardroom, learn from and engage with those knowledgeable in relevant fields on new legislations, regulations and best practices, and to enhance their knowledge and skills on board processes and practices,” Salieh emphasised.

It is expected that INEDs who regularly and actively participate in the forum will have opportunities to discuss and develop solutions to common and specific issues and problems they experience in the boardroom, stay abreast of legislation, regulations and best practice, sharpen their boardroom process skills and enhance their effectiveness in the boardroom, and interact with one another and build lasting professional relationships. The forum will be an interactive platform for knowledge and experience sharing and learning among INEDs across diverse industries and businesses. Participation in the forum is not restricted to SLID members but will be by invitation. However, independent non-executive directors on private and public sector Boards who wish to actively and regularly participate in the forum may contact the SLID CEO Chaminda de Silva on 2301647 and express their interest in joining the forum.


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