About Board Appointment Service

Facilitating Appointment of Board-level Leaders

Companies in search of directors at times find it difficult to obtain a satisfactory match. This is especially so with listed companies seeking independent non-executive directors and promising companies looking for enhanced leadership at the board level.

The Hong Kong Institute of Directors facilitates companies with their search by introducing candidates from the Board Appointment Candidates Register, maintained by the Institute. This Board Appointment Service helps companies source qualified and suitable independent non-executive directors to fill strategic positions on their boards.
 
The Board Appointment Service may be used by any organization intending to strengthen its board leadership. Through this service, the Institute assists listed companies, in particular, to meet the Stock Exchange requirements which call for listed companies to appoint at least one-third of independent non-executive directors  to their board by 31 December 2012.

Venture capital firms and business development funds, which place independent non-executive directors on boards of financed companies in order to help steer their businesses to success, also benefit from this service.

Members of the Institute come from diverse industries and professions and command a wealth of experience in corporate governance. The Hong Kong Institute of Directors is a major source for recruitment of professional directors.


 
On the role of Non-Executive Directors

The Institute is of firm belief that non-executive directors (NED), particularly independent non-executive directors, can make a valuable contribution to the boards of companies. Companies are advised to consider which of the following roles of NED, in addition to undertaking fiduciary duties, suit their respective current and likely future development:-

"Wise-man" bringing knowledge and experience to the board and aiding decision-making
Specialist providing special skills and expertise to the board
"Window on the world" serving as the source of external information
Judge seeing issues in their totality and providing objective judgment
"Contact person" linking the board with useful networks, organizations or individuals
Catalyst questioning existing assumptions, introducing new ideas, stimulating change
Ambassador representing the company outside. Status provider bringing standing, credibility and reputation to the board
Monitor being an objective overseer of management; hiring and firing top managers
"Watchdog" acting as an independent voice, eg for minority shareholders
Confidant serving as a sounding-board for the chairman, chief executive, etc
"Safety valve" mediating in crises in major conflicts between board members
 
 



 

 
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