Are you looking for Non-Executive Directors (NEDs) to add diversity and skills to your board? This is a major challenge in South Africa where boards are dominated by a number of the regular “names” and there are question marks about their ability to exercise sufficient care and diligence in their fiduciary duties.
Despite these challenges, investments in the right NEDs can drive superior performance and is an area where many businesses can invest more of their energy.
Ginen Moodley, our partner from Moodley Attorneys recently wrote an opinion piece for Top Empowerment where he notes:
“Numerous studies have highlighted the positive correlation between diversity and business performance. According to the Institute of Directors of Southern Africa, companies with diverse boards achieve higher levels of innovation, stronger risk management, and improved financial performance. By embracing diversity, boards can tap into a wider array of ideas and insights, enabling them to navigate complex challenges and capitalise on emerging opportunities. Diversity also helps boards to better understand and respond to the diverse needs and preferences of their stakeholders, promoting inclusive decision-making and fostering trust.”