It is not often that the failure of a board of directors spills so openly into the public domain. But the ICICI board under the inept leadership of its Chairman, M.K. Sharma, has managed to make themselves the poster child for poor corporate governance in India. It has sullied the reputation of everyone associated with…
Tag: Corporate Governance
Is the ICICI Governance Problem Systemic?
The blog post on ICICI governance, despite appearing previously on the Bloomberg Quint website, was rather popular (30,000 views) when reposted on LinkedIn. Readers really engaged with it by offering several comments on how to improve corporate governance – Thank you. In this post, I would like to share some of the comments with my…
ICICI Bank: The Corporate Governance Problem of India Continues
I have previously written about the particular agency problem for promoter-led companies: protecting minority shareholders. Promoters have considerable leeway to siphon corporate resources away from the minority shareholders via skewed contracts with related companies (e.g., tunnelling profits to firms where the promoter shareholding is larger) and undeserving pecuniary benefits for promoters (e.g., paying for marriage…
Are Independent Directors Independent?
Thank you everyone for your support of last week’s blog “How Cyrus Mistry was Fired as Tata Chairman”. It received over a million views between my blog, social media, and websites of publications. Besides, it also appeared in the print editions of more than 30 national and regional newspapers. The separation of control from ownership…
Nirmalya Kumar 