Speaking before a national conference on corporate governance practices in Hyderabad, India, World Council for Corporate Governance President Madhav Mehra placed the blame for the financial crisis solely on poor risk management on the part of directors, according to the Business Standard. The two-day conference, which was organized by India’s Institute of Directors, is structured towards “unfolding a new principle-based approach to governance,” in keeping with its theme, “Getting Real with Corporate Governance.” “We don’t need independent directors, we need directors of independent mind,” said Mehra.
World Council for Corporate Governance Blames Crisis on Risk Mismanagement
Madhav Mehra, president of India’s World Council for Corporate Governance, has cast the blame for the recession on the shoulders of poor risk management.
August 21, 2009