Boards need a reset but governance fundamentals still hold: Indranee Rajah

Indranee Rajah, Minister in the Prime Minister's Office, emphasized at the Singapore Institute of Directors' (SID) Directors Conference 2026 that while boards require a reset, they should not abandon fundamental governance principles. According to Rajah, this means adapting how boards implement these basics to new risks and circumstances while remaining vigilant about their broader impact on employees and society.

As part of this reset, Rajah unveiled the Company Director Fundamentals (CDF) programme, a joint initiative between SID and the Accounting and Corporate Regulatory Authority (Acra) supported by RSM Singapore and Rajah & Tann Singapore. The CDF programme aims to equip current and future directors with the necessary knowledge and skills to navigate Singapore's corporate governance landscape.

It consists of a free foundational module grounded in Acra's director responsibilities, supplemented by case studies, and a paid component covering topics such as directors' duties, financial literacy, decision-making, ESG considerations, and more.

Speaking at the conference, Temasek CEO Dilhan Pillay highlighted the need for boards to embody certain qualities in the face of uncertainty. These include boldness in preparing companies for the future, stability and long-term perspective, expertise and confidence in navigating disruptions, and independence in exercising objective oversight for the company's and stakeholders' long-term interests.

Pillay also stressed the importance of the relationship between the chairman and CEO as a key factor in board effectiveness, allowing major shareholders to take a step back and enable the board and management to function without interference.