BOARD, MANAGEMENT AND STAKEHOLDERS INTERFACE
Relationship between the board of directors and management is symbiotic. Neither the management nor the board can exist without each other. The board should monitor the management, the management needs to take the board into confidence about its decisions and hence both need each other to survive and flourish. The relationship must also be extended to the shareholders and other stakeholders. With a mix of seasoned professionals, powerful personalities and diverse stakeholders’ interests, it is essential to master how to navigate the expansive, complex and sometimes dilemma-filled landscape of board-management-stakeholders labyrinth. As Boards study the decisions taken by management, what should they examine to satisfy themselves that that there are no agency problems, conflicts of interest and asymmetries of information? How can boards leverage on the rich, varied experience and expertise from institutional investors? What initiatives can the board sanction to promote good corporate citizenship among the stakeholders?