Boards are fundamental to the sound corporate governance and performance of state-owned enterprises. Over the last decade, an increasing number of governments have sought to make boards perform better, ensure their independence and shield them from ad hoc political intervention. Still, assuring a strong, autonomous role for SOE boards of directors is an issue that most countries grapple with. In this context, the main theme of the second meeting of the Global Network on Corporate Governance of State-Owned Enterprises meeting will be professionalising boards of directors in SOEs. The OECD will organise the meeting, jointly with the Hawkamah Institute for Corporate Governance, in Dubai, UAE, with support from the Ministry of Strategy and Finance of Korea. Through the process of knowledge sharing, the meeting aims at supporting ongoing efforts to help governments identify priorities for SOE board efficiency and implementation of the aspirational standards of SOE governance established by the newly revised OECD Guidelines on Corporate Governance of State-Owned Enterprises (SOE Guidelines).
The meeting will first stocktake the recent developments of SOE reform related to ownership practices, privatisation and corporate governance in select participant countries relative to the SOE Guidelines. It will be followed by Part I which will focus on identifying actionable ways in which governments – as shareholders in SOEs – can more effectively organise and professionalise boards of directors. The topics will include organising board function, nomination of directors and strengthening the autonomy and independence of boards. Part II will be dedicated to identifying what SOEs can do to improve the functioning of boards. It will cover board training, remuneration and incentives, as well as board evaluation and performance.
Format and Participation
The event will bring together representatives of governments, state ownership entities, individual SOEs and relevant experts invited to consider experiences on SOE governance reforms from a range of perspectives. This year’s meeting also coincides with the Annual Conference of the Hawkamah Institute for Corporate Governance, and it will be attended by a number of its members and associates from within the MENA region. The 1 ½ day Global Network meeting, which also serves as Hawkamah’s annual conference will be followed by a half-day Middle East and North Africa (MENA) workshop on the afternoon of 24 May, which will be reserved for representatives of relevant government ministries and agencies, state ownership entities and corporate practitioners in the MENA region only. This meeting is part of efforts to take the MENA Corporate Governance Working Group (part of the MENA-OECD Competitiveness Programme) into a new phase. Participation in both events is by invitation only. Simultaneous interpretation will be provided between Arabic and English.
DOCUMENTS AND LINKS
Chung-a Park Chung-A.Park@oecd.org