George Theocharides, the chairman of CySEC, on Monday said that the role of directors has never been more crucial at the launch event of the Cyprus Institute of Directors & Corporate Governance.
“The responsibilities of directors carry additional weight,” he said. Decisions can carry significant outcomes, meaning direct need to “lead with vision, and hold economic standards”.
They also need to enhance their knowledge in good governance, he said, adding that the role is not static.
“The board of directors plays a vital role,” he said, mentioning that aside from profitability, they also need to promote a “strong culture of compliance”.
He said that at CySEC they have programs to become certified in compliance and regulation.
According to Theocharides, the decisions also extend to affecting the company, staff, and investors.
The institute, he said, will help directors to navigate the complexity of these decisions and a commitment for generations to come.
