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The value of corporate governance in 2022

  • The Ashneer Grover fiasco is emblematic of the battle between the entrepreneur and the board. It ended with a vitriolic resignation letter he wrote to the shareholders. It was reminiscent of the whole fiasco with Housing CEO Rahul Yadav and its board, calling the investors intellectually incapable. To be a founder of anything demands a particular set of qualities. Only a brave and confident person can take such a bold step like building something on their own in the face of adversity and obstacles. Being laser-focused, the ability to think critically, capitalist mindset and being antifragile: these qualities are often seen in founders. Coming back to the case of BharatPe, which became a unicorn in just 3 and a half years, Ashneer Grover stated that the Investor-Founder relation in India is one of Master and Slave. He deems himself the rebel slave that must be hung by the tree, so none of the other slaves can dare to be like him ever again. These instances are reminders of the disdain founders may have towards institutions required to keep founders realistic and the overall culture may fetishize the idea of an infallible entrepreneur who doesn't need any governance. Yet, there needs to be board governance and oversight in order to hold management accountable to its shareholders and inculcate a structure, ethics and values in a company. Hence, founders need to appreciate a solid governance structure to ensure robust processes and keep internal systems functional, while founders may sometimes chase unrealistic goals. So what's the role of the board and corporate governance in a broader sense? What should founder DNA look like in 2022? How can strong governance be inculcated? How can founders decide the kind of operational role they are going to play? How can there be a shared vision between founders and investors? Catch industry experts Anjali Bansal, Founder- Avaana Capital, Tarun Bhatia, MD & Head of South Asia- Kroll and Anchal Dhir, Partner- Cyril Amarchand Mangaldas break it all down

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