Golden Peacock Global Award for Excellence in Corporate Governance (GPGAECG) Winners
Year 2018 «« Go Back To Home
Genpact Limited
USA
Doha Bank
Qatar
[BPO] [Financial Sector (Banking)]
Genpact, headquartered in USA, is a global professional services firm focused on delivering digital transformation. Its Board has 11 Directors, out of whom 10 are Independent Directors including the Chairman. Its Corporate Governance guidelines set forth the qualifications that each board member should possess. Board evaluations are undertaken annually through external evaluation process. In its overall Enterprise Risk Management (ERM) framework, Cyber Risk is a key component, assessed and monitored by the ERM team; and along with overall enterprise risks, discussed quarterly in the board. Board has regular access to members of management. Its whistle blowing system is centrally managed and employees can raise a complaint through various channels like Ombuds e-mail, Ombuds drop box etc. Doha Bank is a large commercial bank in Qatar. The Board consists of 9 members, out of whom 4 are executive members and 5 are non-executive members and 2 of them are independent. The Bank holds a minimum of six meetings every financial year. The Risk Management Group operates through an Enterprise-wide Risk Management Framework. It prepares financial statements in accordance with the International Financial Reporting Standard, and the external auditor prepares its report in accordance with international standards of auditing. It has a whistle blower policy wherein an employee can report issues without an issue of reprisal. The Board of Directors has a primary responsibility towards the shareholders of the Bank for its performance and result.
Tech Mahindra Limited
India
Marks and Spencer Group plc
UK
[IT] [Retail]
Tech Mahindra is ranked among the top 5 IT service providers in India, offering total range of IT services and industry specific solutions in 90 countries with annual revenue of USD 4.9 Billion in FY 2017-18. Its Board has 9 Directors, out of whom 5 are Independent Directors including 1 Woman Director. The company has developed a tool internally called as 'Board Room Portal' which has all the required information like Notice for Meetings, Agenda, Minutes of the Meetings, Financial Information and Press releases. It has developed unique set of Overarching Principles of Corporate Governance that ensures advantage over other competitors and focuses on ensuring the basics of an effective Corporate Governance framework; the rights of shareholders and key ownership functions; the equitable treatment of shareholders; the role of stakeholders in Corporate Governance and disclosures and transparency. Marks and Spencer Group Board has 9 members, out of whom 5 are Independent Directors and 2 Women Directors. It has 3 Board level committees: Audit Committee, Nomination Committee and emuneration Committee. Cyber security is a standing item at its Audit Committee. The Nomination Committee reviews composition, diversity and succession plan at least annually, and before any Board level or Senior Director change. Board evaluation is carried out as per the international norms. Cyber security infrastructure policy has been adopted in light of perpetually evolving threats. The Audit Committee is responsible for reviewing the effectiveness of the company’s whistle blowing procedure at least annually. Extensive changes have been made to the leadership team below board level to help the company deliver its transformation programme.
Year 2017
Volvo Car Corporation
Sweden
The Dun & Bradstreet Corporation
USA
[Automobile] [Business Services]
Volvo Car Corporation, Sweden is owned by Zhejiang Geely Holding Group Ltd and three institutional investors. It is a reputed car brand. Its Board of Directors has adopted regulations for the work of the board as a complement to the provisions in the Swedish Companies Act. Majority of board members at all times are independent. The company's goal is to have a balanced board in terms of gender by 2020 when each gender shall have minimum 40% representation. Board evaluation is conducted internally using a web based survey and analytics tool. Board level audit committee is responsible for monitoring the integrity of Financial Reporting System and reporting of risks, internal controls, operation procedure and enterprise risk framework. The Dun & Bradstreet Corporation, USA is a global technology service provider and listed on New York Stock Exchange (NYSE). The company has maintained that atleast two-thirds of the board meet the criteria for independence established by NYSE and applicable laws. The audit committee members are subject to heightened independence criteria. Diversity is an important consideration for the board. One-third of the board consists of female members. Cyber Security is an important board issue. The audit committee also oversees the company's major cyber security risk exposures. The board has complete access to company's senior managers.
Capgemini SE
France
IRPC Public Company Limited
Thailand
[Consultancy] [Petrochemical]
Capgemini SE, France is a leading strategy consulting company. It complies with the provisions of AFEP - MEDEF Corporate Governance Code revised in November 2016. Board has fifteen members, including three members representing employees. The vast majority of directors are independent, with an almost identical number of male and female. The board periodically reviews the personal profile of each director in the light of the definition of independence adopted by AFEP - MEDEF CG Code. Cyber Security being an important issue, the CySIP (Cyber Security and Information Protection) programme, aimed at reinforcing Groups competitiveness whilst anticipating new regulation, was launched in November 2014. IRPC Public Company Limited, Thailand is a listed private company involved in integrated petro-chemical basic infrastructure including deep sea port, tank farms and processing plant. The company has stipulated corporate governance and Code of Conduct which are directed by the board. It has fifteen board members, including seven independent directors and one woman director. Board has Risk Management Policy using the framework of COSO and ISO 31000. IRPC has implemented a Business Continuity Management System ISO 22301:2012 to protect stakeholder benefits, reputation, corporate image, and value added activities.
Year 2016
Doha Bank
Qatar
Dubai Electricity & Water Authority
UAE
[Financial Sector (Banking)] [Government]
Doha Bank provides domestic and international banking services for individuals, commercial, corporate and institutional clients in Qatar and other countries. The bank has three driving tenets, fairness, transparency, and accountability. It has separate Chairman and CEO and one Independent Member on the Board. It has a structured policy and procedure document for Public Disclosure, Code of Ethics and Whistle Blower, which is centrally maintained and reviewed at periodic intervals. Sustainability standards are being encouraged and an excellent Sustainability Report is prepared following GRI-G4 guidelines. Doha Bank has implemented Risk Management policies and procedures designed to identify and analyze the risks inherent in the bank's business and sets benchmark for other banking institutions. Dubai Electricity & Water Authority is publically owned utility and the exclusive provider of electricity and water to the Emirate of Dubai. The authority has established a unique framework of corporate governance though being from government sector, which ensures ethical and responsible decision making; accountability and organization; performance and monitoring; effective delegation; timely information and informed decision; and effective communication with external stakeholders. It undergoes through three assurance functions: Internal Audit, External Audit and Government Audit. The Conduct of the Board is subject to the principles which prohibit conflict of interest and other practices. The Board has been instrumental in establishing the Code of Conduct.
Infosys Limited
India
IRPC Public Company Limited
Thailand
[IT] [Petrochemical]
Infosys Limited, India is a global leader specializing in Consulting, Technology, Outsourcing and Next Generation services. The Board of Directors exercises Corporate Governance practices and ensures the management serves long-term interests of their stakeholders. The stakeholders' interests are at the core of Corporate Governance. Risk Management processes includes Risk Identification, Analysis and Evaluation, Risk Treatment, Risk Mitigation and Monitoring, and Risk Reporting in disclosures. Its Board has nine Members, two of whom are Executive Whole Time Directors, while the remaining seven are Independent Directors. Three Board Members are women. Sustainability Council is established and is headed by Chief Operating Officer. Infosys Leadership Institute drives “leadership mentoring programme and succession planning for senior leaders formulating them for the higher role”. IRPC Public Company Limited is a private owned corporation involved in refining and asset management. The Board consists of fifteen Directors, seven of which are Independent Directors and one Exceutive Director. The Chairman of the Board is a Non-Executive Director. Their Corporate Governance handbook stipulates good practices, business ethics, and a Code of Conduct. The Board has anti-corruption policies and related mechanisms to prevent corruption. The company has established IRPC Group Sustainable Business Operation Committee to guide all units in a uniform direction under international standards. The Corporate Governance practices focus on corruption control.
Qualcomm Incorporated
USA
Levi Strauss & Co.
USA
[Telecom Equipment] [Textile & Apparel]
Qualcomm Incorporated is a world leader in 3G, 4G and next-generation wireless technologies. The Board has only two Executive Directors and the rest are Independent Directors within the meaning of NASDAQ Rule 5605. The Governance Committee is responsible for reviewing the appropriate skills and characteristics required of Board Members in the context of prevailing business conditions and composition of the Board. The Board of Directors conducts annual assessment of its overall effectiveness and performance. It has three standing Board Committees: Audit, Compensation and Governance Committee. The Board oversees the exercise of corporate powers and the company's business affairs to ensure that they are managed to meet its stated goals and objectives. Training and skills development for directors is a thrust activity. Levi Strauss & Co is one of the world's largest apparel companies and a global leader in jeans. It has a Board of eleven Directors, out of which eight Directors do not have material relationship with the company; and four Directors are women. Board independence and gender diversity are unique features. The Nominating and Governance Committee conducts an annual review of Directors. The Board receives Code of Conduct training annually. It has a Whistle Blower Policy. Driving Leadership, Excellence and Innovation is primarily the responsibility of the company's Leadership Team. The Board is briefed five times a year on the key initiatives and long-term strategic decisions. The company gives detailed significant information about holistic approach to sustainability in its annual report.