IoD Introduces Higher Standards for Company Directors

Institute of Directors Introduces Higher Standards for Company Directors

The Institute of Directors says the introduction today of its Chartered Membership pathway will see higher professional standards for its members.

A key aspect of the pathway is the implementation of mandatory professional development for the majority of IoD members, starting today.

Directors renewing their membership of the organisation will commit to a programme of continuing professional development.

“Directors’ skills, experience, competence and currency of knowledge are their value proposition”, says Institute of Directors CEO Dr William Whittaker. “Current thinking and continual upskilling are critical to delivering best practice in the boardroom, and there’s always more to learn.”

“Continuing professional development allows our members to demonstrate their commitment to sound governance and offer stakeholders and investors an assurance that they have the knowledge to carry out their duties effectively.”

The move sees a new membership structure that offers a framework against which organisations can benchmark directors’ experience and expertise.

1109 senior directors have been made Chartered Members or Chartered Fellows of the IoD, confirming a Charter that commits them to:
• Acting with the utmost professional and personal integrity and accountability, consistent with the highest ethical standards
• Exercising the highest degree of skill, care and diligence in their governance roles
• Actively supporting and encouraging board diversity
• Demonstrating leadership both within their board roles and within the IoD
• Demonstrating good character and an ongoing commitment to professional development

The change transforms the Institute of Directors from member organisation to professional body and represents a significant step forward in its mission to raise the standard of governance across all areas of New Zealand business and society.

ENDS

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