15 November 2011 - The Singapore Management University (SMU) and Singapore Institute of Directors (SID) are proud to confer the Executive Diploma in Directorship on its pioneer batch of 20 Director Graduates today, while another 20 participants received the Executive Certificate in Directorship. Launched in 2007, the programme is the result of collaborative efforts between SMU and SID; the partnership brings together SMU's academic excellence and strength in designing and delivering executive programmes, and SID's strong network of senior business executives in the corporate sector.
Taught by expert faculty and industry professionals who are closely in touch with the business world, the programme is open to all senior executives, board of directors and aspiring directors, and is designed to help participants enhance their board level skills and knowledge to lead in challenging times. The programme is organised in two tiers – participants have the option of attaining the Executive Diploma in Directorship upon completion of six assessable modules or the Executive Certificate in Directorship which comprises three assessable modules. About 200 directors and senior executives have participated in the programme over the years and 41 participants have received the Executive Certificate in Directorship.
“I'm really happy that the programme has taken off with such good response from diverse sectors of the industry. We started off with the intent to enhance our participants' proficiency in corporate governance, legal requirements and the position of trust that is required of them in their roles as executive and non-executive directors. However, from dialogue and feedback, we've taken note that it is just as important that we continue to enhance our programme modules so that participants are kept abreast of the latest trends, developments and issues pertinent to corporate directors,” said Associate Professor Annie Koh, SMU's Dean of Executive Education.
“It is with this in mind that we have enhanced the programme with new modules for 2012, which will include topics such as risk and crisis management, investor relations and compensation decisions,” she added.
The cohort of 40 graduates this year come from varied backgrounds. They include Presidents, Chairmen, Chief Executive Officers, and Executive Directors from sectors such as banking, consultancy services, engineering services, food services, hospitality, IT, pharmaceutical, and telecommunications.
In conjunction with the graduation of the first batch of Executive Diploma in Directorship participants, the SID will also introduce an accreditation system for Directors. SID will establish a register of its members who have successfully completed the above-mentioned joint programme with SMU, or SID's two core training programmes, and have served a minimum of five years as a director in at least one listed company on the Singapore Exchange. The accredited directors will be eligible to use the letters 'ACD' (Accredited Company Director) after their names.
"SID has been very focused on providing relevant training programmes for directors and potential directors so as to develop effective boards and promote high standards of corporate governance in Singapore. We have also been enabling effective board searches and providing a board appointment service. The accreditation system, when it is set up before the end of this year, will give confidence that the individuals have undergone relevant training and have attained pertinent know-how, and help companies find competent and experienced directors for their boards,” said John Lim, SID's Chairman.
Annex 1 – Fact Sheet on ‘Executive Skills for Board Members in Challenging Times'
About the Singapore Institute of Directors
The Singapore Institute of Directors ( www.sid.org.sg ) is the national association of company directors. SID promotes the professional development of directors and corporate leaders. It works closely with private sector professional firms, academia and regulators, its network of members and professionals, to promote the highest standards of corporate governance and ethical conduct. Formed in 1998, the membership of SID comprises mainly directors of Singapore companies (both publicly listed and private companies), lawyers, accountants, academics and other professionals interested or involved in the field of corporate governance.
Through its training programmes, SID aims to increase the pool of individuals who are qualified to serve as directors (executive as well as independent directors) in listed companies. Members have access to a wide range of resource material on corporate governance published by SID. In addition to individual membership, SID has in 2010 also introduced corporate membership with a view to engaging with companies in Singapore to collaborate on efforts to improve corporate governance practices here. Corporate Members will be provided with various benefits, including the professional training of directors and senior management at concessionary rates.