Business Times

Corporate governance message must be taken to every part of the country: SLID President

Taking the message of corporate governance to every part of Sri Lanka would be the main focus of Ronnie Peiris’ term of office in his role as the new President of the 500-member Sri Lanka Institute of Directors (SLID).

He made this comment at a press conference soon after being elected at SLID’s 11th Annual General Meeting held in Colombo on Wednesday.

Mr. Peiris, Group Finance Director at John Keells Holdings (JKH), said SLID planned to step up recruitment amongst groups not fully accessed in the past, including directors from outside the Western Province, public sector officials, non-governmental organisations (NGOs), etc. Also indicated, the organisation's constitution would be amended over the next three months, followed by a review by members, to make it "friendly" for this recruitment drive.

Of the 500 SLID members, 33 are so-called associate members who are not corporate board members but, instead, involved in partnerships, etc. Mr. Peiris also noted that, while the institute currently charges Rs. 5,000 for one-time registration and a Rs. 5,000 annual membership fee, this was not enough and would likely increase.

SLID officials have also suggested plans for the new term to include setting up a secretariat, a technical advisory committee to help members with business queries, a handbook for directors published in conjunction with the Chartered Institute of Managemnt Accountants (CIMA), and special programmes for the "rapid assimilation of knowledge" for young directors so they can quickly become productive board members as well as Continuing Professional Development (CPD) for all members. Also planned, an ongoing series of seminars, discussion panels, training courses and workshops on topics related to directorships.

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