What does good governance mean to you?

The annual event attracts more than 225 female corporate board directors from across the globe who gather to discuss issues that consistently plague the boardroom and affect the overall governance of a company.

At the event, the notion of good governance remained the dominant theme. Many corporate directors believe good governance means taking a multifaceted approach. According to the WCD, a diversified boardroom includes a set of ‘multi-gender, multi-skilled, multi-national, multi-ethnic and multi-generational’ professionals who will help lead a company through its toughest times.

‘No matter where you are in the world, good governance means looking ahead,’ says Ana Paula Chagas, an attendee and partner at Heidrick & Struggles’ Brazil office. ‘Before making a decision, directors need to look at everything – strategy, sustainability, compliance, risk, culture, stakeholder views, talent management, and so on, because that’s what governance is meant to do: bring every part of a company together and that will certainly result into better shareholder value.’  

Chagas, pictured left, founded the first WCD chapter in Brazil, which started out with only 20 members; now, just three years after its launch, the group has 90 members.  

‘In Brazil, we are grooming future women directors by providing them with the right training and coaching them to take on these top positions in the boardroom,’ adds Chagas.  

Many women might enter the boardroom for the first time this year in the wake of new regulations and mandatory quotas imposed on companies to increase female representation. Against this backdrop, Chagas believes the key to survival in the boardroom is remaining transparent at all times.

‘Always stick to your values and don’t try to imitate others. If you want to help the board achieve good governance, be yourself and set standards,’ she says. ‘What makes a difference on a board is developing and establishing a sense of trustworthiness and that will help you succeed.’