The Aon Hewitt-Mint Best Managed Boards Study
The Companies Act 2013 (The New Act) has brought about a profound change in how companies view corporate governance. Enactment of the New Act can be said to be a transformative step towards making governance of Indian companies more effective and transparent and bringing them in line with global practices.
With increased governance requirements, it becomes interesting to see how the landscape of governance practices and reporting has changed since the enactment of the New Act. Aon Hewitt has always endorsed effective corporate governance practices and has been associated with various organizations in studying and evaluating their governance mechanisms.
In 2012, this Best Managed Boards study was launched as a collaborative effort between Aon Hewitt, BSE (Bombay Stock Exchange), NSE (National Stock Exchange) and the Mint newspaper. The study, which focused on identifying companies that went beyond the basics of governance norms to focus on the substance and principles of governance while managing their businesses, was a huge success and an eminent jury identified 6 winners from across India Inc. The boards of these companies were felicitated by Mr. Sachin Pilot, then Minister for Corporate Affairs.
It gives us great pleasure to launch the next chapter of this study in 2015. This year the study aims to closely evaluate the changing approach towards corporate governance practices across companies that constitute both the large cap and small cap spectrum of the market and recognizes a set of leading companies that show exemplary governance standards and processes. The 2012 debut helped build a comprehensive database of governance practices and processes for companies to refer to. This study will help enrich that database and hopefully add new elements to the same in light of the new changes in the regulatory environment.
We invite you to participate in this study and strongly believe that this study would, not only help you understand how your governance standards stack up against other organizations, but also provide you insights on the practices being adopted by the Best Managed Boards in the country. We would urge you to send in your confirmations by the 30th of November 2015 to:
Solution Lead – Executive Compensation and Governance
We hope to see your participation and support to make this a truly benchmark study in the history of Indian Corporate Governance.
Girish Joshi / V R Narasimhan