Introduction

In recent years there has been a gradual change in the manner in which boards of directors have conducted their business activities. Board agendas are tighter and more focused, there are more detailed performance monitoring systems in place, accountability and responsibility throughout the organisation clearly defined, detailed attention to strategic issues has greatly improved and, generally speaking, shareholder wellbeing has become a major item demanding the board’s attention. Along with this, there has been increasing emphasis on risk management and compliance issues.

These changes have been driven by numerous influences, not the least being the financial meltdown a few years ago, the increasing evolution of technology driving business performance, the argument for greater diversity around the board table and the gradual rise of shareholder activism. Each of these behavioural and performance drivers could be viewed on their own as influences that in their own right require focused attention but with each individually impacting on the others in the business mix there was a requirement for a holistic mechanism and discipline which would hold together and focus all the various aspects influencing and driving business performance.

Thus was born the Corporate Governance process encapsulating all the various company related disciplines, expectations, strategic drivers, commercial behaviour and efficient compliance processes at a very high level. These processes enabled boards to vigorously monitor the company, ensuring it performed to the highest expectations of its shareholders, adhered to a high standard of ethical behaviour and met all of its legal obligations. These governance principles have evolved over time to meet market and shareholder demands until today most successful companies have these principles enshrined as director qualities at the very core of their leadership ethos.

Here at Endeavour, we have been at the forefront of auditing, promoting and introducing sound governance principles to boards of directors who, with their shareholders’ support, wish to further hone and improve their governance knowledge and performance. Governance is a corporate discipline in which we have been acknowledged as being a leader of in the business community. Recently I was invited by Professor Richard Leblanc to author a chapter on governance as a corporate discipline in a publication entitled The Handbook of Board Governance to be released early 2016. The publication will be sent to Universities and academics teaching sound governance practise and is expected to become a learning and reference publication for Chairman and directors worldwide.

Should you wish to discuss your governance issues and concerns, please do not hesitate to contact us. I trust you will enjoy the read and look forward to hearing from you in the near future.

Drew Stein
General Partner

Download

If you’re looking for something to read this coming long weekend, download the book using the link below and have a read of his introduction beneath the link.

For those looking for a printed copy or with any questions, comments or bones to pick, please contact Drew at dstein@ecap.co.nz