This program showed practical ways to business owners, board members and top executives how by adhering to high corporate governance standards companies can get 10-40% valuation premiums, reduce their interest rates on loans by up to 0.5% and attract foreign investments. By adopting leading corporate governance practices like recruitment of independent professional board members or separation of management and steering...
This program showed practical ways to business owners, board members and top executives how by adhering to high corporate governance standards companies can get 10-40% valuation premiums, reduce their interest rates on loans by up to 0.5% and attract foreign investments. By adopting leading corporate governance practices like recruitment of independent professional board members or separation of management and steering roles, companies can strengthen their competitiveness on the global markets, increase their performance and transparency, and lower risk of corporate failures.
The focus of the program is Corporate Governance and the above objectives which are attainable only through adoption of leading governance practices. The program is particularly relevant to the Baltic business and especially today as it deals with issues like how to attract foreign investments, how to build better resilience to crises, how to raise competitiveness on the international markets. The speed and sustainability of recovery of the Baltic economies largely depends on how well the Baltic companies will address these challenges.
“Today the Baltic business needs not only look for what short-term recovery measures to adopt or where to borrow money, but focus on the strengths supporting its long-term competitive edge on the global arena. I believe that adoption of high corporate governance standards is today of primary importance to large, medium and small, privately and state-owned companies in the Baltic region”, – says Arminta Saladžienė, Chairman of the Executive Committee of BICG and Chairman of the Board, NASDAQ OMX Vilnius.
Antanas Zabulis, President of Omnitel, BICG Board member and alumni, adds: „The program is very relevant and a must for every owner, board member and senior manager. I feel responsibility of a true Corporate Governance ambassador and recommend this program to all my colleagues”.
Tomas Kučinskas, President of Carlsberg Baltic, assesses his experience at BICG: “It is probably the best Institute in the region which teaches how to direct and control your company”.
At the same time the Baltic Corporate Governance Board gathered for the first time to approve the strategy of the BICG and discuss further initiatives. It was agreed to work actively also in Estonia and Latvia in 2010, to offer top class education on corporate governance for businesses, public sector, and media, as well as to develop and maintain corporate governance guidelines for Baltic companies.
BICG also aims to establish close relationship with international bodies active in the corporate governance area as well as peer organizations in other countries to bring up-to-date knowledge and experience to the Baltic’s. BICG will work for alignment of the Baltic corporate governance practices with the best international practice and will advocate the Baltic governments for professional independent directors in state controlled companies.