Implementing the OECD Principles: some personal reflections

The OECD has published a report titled "Using the OECD Principles of Corporate Governance: A Boardroom Perspective". The following extract explains well the purpose of the report and the insights it provides:

Chapter VI of the OECD Principles – The Responsibilities of the Board is underpinned by the notion that the board directs the affairs of the company. The concept on paper is sound. We wanted to find out what happens in practice, in the imperfect world beyond compliance with  guidelines. To that end, we contacted chairpersons, CEOs, directors, general counsels, corporate secretaries and other practitioners from different sectors, regions, corporations and business cultures ... we asked contributors to provide their personal reflections upon what Chapter VI of the OECD Principles – The Responsibilities of the Board actually requires from a director. We encouraged them to share their thoughts about what they believe are the key challenges faced by directors where the law ends and individual discretion begins, and how they managed the challenges. A number of strong, common themes emerged from the interviews and we found that our own thinking was challenged in various ways".